AWE records 2P reserves increase at Waitsia Martin Kovacs, 9 Aug 2017

AWE has advised that it has increased its share of 2P reserves at the Waitsia gas field in the northern Western Australian Perth Basin by 25% to 228 PJ of sales gas as at June 30 following the drilling of the Waitsia-3 well in May-June.

AWE stated that the reserves increase reflects the reclassification of a portion of 2C contingent resources, previously held for the southern extension of the field, to 2P reserves.

AWE has additionally advised that at the BassGas project in the Bass Strait, following a 2016 reserves downgrade, both the operator and AWE had undertaken independent modelling of the Yolla reservoirs, and after comparing the operator’s model with its own work, AWE has revised upwards its share of 2P reserves for the Yolla field by 13%, up 1 MMboe.

After allowing for production and the reclassification of a small portion of 2P reserves to 2C contingent resources, AWE stated that its share of BassGas 2P reserves as at June 30 decreased by 6% to 6.96 MMboe.

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