How Bridgeport Energy’s 4.1 Million Barrel 2P Reserves Shape Its Future
Bridgeport Energy reports stable petroleum reserves of 4.1 million barrels of oil equivalent and 4.9 million barrels of contingent resources as of July 2025, underpinning its ongoing production and future gas development plans.
- 2P reserves at 4.1 million barrels of oil equivalent
- 2C contingent resources total 4.9 million barrels of oil equivalent
- Stable production from nine Queensland oil projects
- Advancing appraisal and early production system for Vali Odin gas field
- Domestic sales priced at a premium to dated Brent crude
Bridgeport Energy’s 2025 Reserves Overview
Bridgeport Energy Pty Limited, a wholly owned subsidiary of New Hope Corporation Limited, has released its 2025 petroleum reserves and contingent resources statement as at 31 July 2025. The company reported net 2P reserves of 4.1 million barrels of oil equivalent (boe) and 2C contingent resources of 4.9 million boe. These figures reflect a consistent reserve base supporting Bridgeport’s ongoing operations and future growth potential.
The reserves are predominantly oil, comprising 94% of the 2P volumes, with gas making up the remaining 6%. Bridgeport operates nine onshore oil projects across Queensland, including fields such as Moonie, Bodalla South, and Kenmore, while also holding exploration tenements in South Australia and Victoria. Additionally, the company has non-operated interests in the Santos-operated Cooper Basin joint ventures and gas discoveries in ATP 2021 and PRL 211.
Stable Production and Premium Pricing
Bridgeport’s oil production remains steady, with crude oil trucked to the IOR refinery in Eromanga, Queensland, and non-operated production sent to the Santos-operated Cooper Basin Joint Venture. The company benefits from crude oil sales agreements that price its production at a premium to dated Brent, underscoring the value of its domestic market positioning. This premium pricing supports Bridgeport’s financial resilience amid fluctuating global oil markets.
Gas Development Prospects at Vali Odin
Beyond oil, Bridgeport is advancing its gas interests through the Vali Odin fields in southwest Queensland. The 2P reserves reported include expected gas volumes from the five-well Early Production System (EPS), while the 2C contingent resources highlight the potential for a future gas development pending further appraisal and investment decisions. CEO Chris Way emphasized that the EPS is providing valuable data to support a full field gas project, signaling a strategic diversification into gas production.
Governance and Reporting Standards
The reserves and resources estimates comply with the Society of Petroleum Engineers’ Petroleum Resources Management System (2018 update), ensuring rigorous and transparent reporting. Qualified professionals within Bridgeport, including senior reservoir engineers and geoscientists, have reviewed and consented to the statement. This adherence to industry standards reinforces confidence in the reliability of the reported figures.
Looking ahead, Bridgeport’s stable reserve base and ongoing appraisal activities position the company well to sustain production and explore new development opportunities, particularly in gas. Investors will be watching closely for updates on the Vali Odin project and any shifts in production or reserve volumes in coming quarters.
Bottom Line?
Bridgeport Energy’s steady reserves and advancing gas appraisal set the stage for its next growth phase.
Questions in the middle?
- When will Bridgeport make a final investment decision on the Vali Odin gas development?
- How might future oil price fluctuations impact Bridgeport’s premium domestic sales agreements?
- What are the company’s plans for exploration or acquisitions to expand its reserves beyond current levels?
