Carbon Energy (CNX) has declared an approximate six-fold increase of its combined 3P gas reserves and 2C contingent resources for a total of almost 14PJ (or ~13TCF) of gross SNG. This provides strong support to the company’s plans for a 25PJ a year keyseam operation, which could be supplying gas by 2017.
Increased 2P reserves give 45-year life at 25PJ/year
CNX has announced a 28% increase in its proved and probable (2P) Surat Basin gas reserves to 1,128 petajules (PJ) of synthetic natural gas (SNG). SNG, like natural gas, is pipeline-quality methane (CH4).
The 2P reserves are in Mineral Development Licence (MDL) 374 and have been calculated by an independent consultant. CNX also reported a fivefold increase in 2C contingent resources at Exploration Permit Coal (EPC) 869 plus substantial additional 3P reserves and contingent resources in EPC 867 and EPC 1132 where reserves and resources have not been reported before.