Elixir (ASX:EXR) start for stimulation on Grandis Gas

Elixir (ASX:EXR) start for stimulation on Grandis Gas

December 20, 2023 Off By Tom Duggan

Elixir Energy has the wellhead in place at Daydream-2 and the rig has been released with the planning for stimulation and testing phase now being refined in the wake of the rousing results at its fully owned Grandis Gas Project in Queensland’s Bowen Basin.

Results from lab analysis are due in January, and Elixir has signed a pact with world-leading Halliburton, not just for stimulation, but for R&D collaboration focused on optimisation through applying the multiple technological advancements of the past decade.

The plan is to stimulate both the conventional sandstone and unconventional coal zone, where if gas flows, it is expected to offer a large material increase to Elixir’s contingent resources.

Drilling was already showing elevated gas flows exceeding pre-drill estimates when the decision was made to go an extra hundred metres to total depth, leading to the discovery of an unexpected, naturally permeable gas bearing zone flowing to surface without stimulation.

Elixir Managing Director Neil Young said that following the highly successful completion of this drill phase, the company is now moving on multiple fronts to prepare for stimulation and flow.

“As part of that, we are pleased to once again add to our suite of Agreements with world leading partners for our Grandis program,” Mr Young said,

Our recently struck arrangements with Halliburton are not just for the provision of services – but also a recognition of the enormous potential of the Taroom Trough – and how that can be liberated by cutting edge stimulation techniques.”

Elixir expects the first stages of its physical work program to begin in February as it continues advancing the prospects of its novel idea for a large-scale gas play in a Taroom Trough emerging as a new Australian energy Super Basin.

up arrow$0.115

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified. 

MO and CI logo redraw Socials Profile reversed

MarketOpen is an online media business connecting companies and investors. Through its flagship MarketOpen.com.au media channel the Australian publisher’s experienced journalists cover breaking news and analysis on mining, oil and gas, technology and biotechnology companies listed on the Australian Securities Exchange and other markets. MarketOpen’s video and podcasting channels feature original interviews with Australia’s small-cap corporate leaders, while its Stock Soirée networking events, Watchlist webinars, and online events connect investors and brokers with CEOs and board members. The publisher also offers a suite of agency services to its corporate members, including media, video, podcasting and social media services, along with writing, editing, reviewing and content creation services.

Contact info

Suite 3, 47 Havelock Street
West Perth WA 6005

Stewart Walters
Managing Director
+61 414 644 166

Amanda Ellis
+61 438 003 868

Important links

Follow us