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.

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