Pilot Energy Secures Approval for 400km 3D Seismic Survey Targeting 1.1 TCF Gas
Pilot Energy has secured crucial environmental approval to conduct a 3D seismic survey offshore Perth Basin, propelling its exploration and farmout ambitions forward while supporting carbon storage initiatives.
- Environmental approval granted by NOPSEMA for 400km Eureka 3D seismic survey
- Survey targets Kingia Gas Play Fairway and 1.1 TCF Leander Gas Prospect
- Approval supports advanced WA-481-P farmout process and drilling readiness
- Seismic data to aid Cliff Head Carbon Storage Project’s CO2 storage assessment
- Farmout shortlist finalized with management presentations imminent
Environmental Approval Unlocks Exploration Potential
Pilot Energy Limited (ASX – PGY) has taken a significant step forward in its offshore Perth Basin exploration program by securing environmental approval from the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA). This green light allows the company to proceed with the Eureka 3D seismic survey, a minimum 400-kilometre operation designed to map subsurface geology across the Kingia Gas Play Fairway, including the promising Leander Gas Prospect.
Targeting a Major Gas Resource
The Leander Gas Prospect, situated about 15 kilometres west of existing infrastructure at Cliff Head, holds an estimated prospective resource of 1.1 trillion cubic feet (TCF) of recoverable gas. The prospect’s primary target is the Kingia Sandstone, a prolific gas producer onshore but underexplored offshore. The 3D seismic data will be critical in refining well placement and maturing adjacent prospects, thereby increasing the chances of successful drilling outcomes.
Farmout Process Gains Momentum
With the environmental approval secured, Pilot Energy is advancing its farmout process for WA-481-P, seeking partners to share exploration risk and capital. The company has shortlisted interested parties and plans detailed management presentations soon, aiming to finalize a preferred farminee by year-end. This approval provides confidence to potential partners that seismic acquisition; and subsequent drilling; can proceed without regulatory delays.
Synergies with Carbon Storage Initiatives
Beyond hydrocarbon exploration, the seismic survey overlaps with Pilot’s G-12-AP Greenhouse Gas Assessment Permit and the Cliff Head Carbon Storage Project’s declared storage area. The subsurface data gathered will support evaluation of additional CO2 storage capacity, aligning with Pilot’s broader strategy to diversify into carbon management and clean energy projects.
Looking Ahead
Managing Director Brad Lingo emphasised the seismic survey’s role in fast-tracking the Leander Prospect towards drilling readiness and eventual gas production. As Pilot Energy balances exploration with emerging clean energy ambitions, this approval marks a pivotal milestone in unlocking offshore Perth Basin resources while supporting Australia’s energy transition goals.
Bottom Line?
Pilot Energy’s seismic approval sets the stage for a decisive farmout and potential drilling campaign that could reshape its offshore gas prospects and carbon storage ambitions.
Questions in the middle?
- When will the Eureka 3D seismic survey commence and how long will it take?
- Which partners are shortlisted for the WA-481-P farmout and what terms are expected?
- How might the seismic data influence the valuation and development timeline of the Leander Gas Prospect?
