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Australia-listed Comet Ridge revealed Thursday that it has spud its third coal seam gas pilot well, Mira 5, at its ATP 337P Mahalo asset in the onshore Bowen Basin, Queensland.
The drilling of the well, performed by Atlas Rig 3, is expected to be completed in four to five days, Comet Ridge's Managing Director Tor McCaul, told Rigzone in an interview.
Mira 5 – the third well in an eight-well program for the Mahalo joint venture and the third of four pilot wells in the Mira field – is sited less than 1 mile from the recently drilled Mira 4 well and 155 miles (250 kilometers) west of Gladstone. Mira 5 will be drilled to 1,017 feet (310 meters), similar to Mira 4.
Commenting on the Mahalo Project's timeline, McCaul said: "The drilling of the Mira wells is progressing as scheduled. We expect to spud the fourth pilot well before the end of this month."
Comet Ridge is also in the midst of constructing field facilities and tanks needed at the Mahalo pilot project. The company is targeting for start-up of the facilities by the end of 1Q 2013, as previously announced in November last year.
McCaul said that while temperatures have been relatively high in Queensland, operations on the Mahalo Project have not been affected.
Queensland has been placed on high alert since the start of this week, with eight bushfires burning across the state. Australia's Bureau of Meteorology issued a warning Wednesday, stating that the January heatwave is set to continue, with "extreme temperatures to continue for the next week."
Comet Ridge holds a 35 percent interest in the permit, while Santos and APLNG each hold a 30 percent share. Stanwell Corporation, which retains an option to increase its share in the project, holds the remaining 5 percent stake.
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