In a world first move, Carbon Energy obtained independent certification of its UCG reserves using Society of Petroleum Engineers (SPE) guidelines, with MHA Petroleum Consultants (MHA) certifying 2P reserves at approximately 744 PJ.
MHA identified 1042.8 PJ of 3P reserves and, in addition, a further 1,927.7 PJ of contingent resources within the Bloodwood Creek and Kogan areas, capacity that will support Carbon Energy’s goal to develop the region into a major energy and industrial hub.
“This is an important step in the development of a national UCG market as it is the first time that UCG syngas volumes have had independent third party certification under the SPE guidelines anywhere in the world,” commented Carbon Energy Managing Director Andrew Dash.
“This is our first resource statement of this kind and clearly establishes Carbon Energy as a major energy player."