TMK Energy Limited (ASX: TMK) Reports Successful Pilot Production
Operational Efficiency
TMK Energy Limited (ASX: TMK) announced that all six pilot production wells at the Gurvantes XXXV Coal Seam Gas Project operated at close to 100% uptime throughout December 2024. Gas production from the original three pilot wells resumed quickly after returning to normal pump speeds.
Production Update
The new wells (LF-04, LF-05, and LF-06) are showing promising results with strong water production, indicating good permeability as fluid levels are gradually reduced. Approximately 30% of the fluid levels have been drawn down, and the company expects all wells to reach their design fluid levels within the next 2-3 weeks.
Data Collection and Future Steps
Distributed Temperature Sensing (DTS) data is being successfully collected from wells LF-04 and LF-05. This data will assist in identifying which zones are contributing the most water and gas. Further analysis and interpretation of this data are expected in the coming months as more information is gathered.
CEO Comments
Mr Dougal Ferguson, TMK Energy’s Chief Executive Officer, stated, “We are pleased to report that the wells and facilities have operated very efficiently throughout the month of December 2024 and the wells are performing in line with expectations.” He also noted, “Once the new wells reach their design fluid levels, we expect to see increased gas production.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.