Galilee Energy’s Zydeco-1 well in Louisiana has intersected the Homeseeker B sand as predicted, revealing strong gas indications that were not factored into prior financial models. Drilling now advances toward the primary Tweedel Sand target, with electric logging due late July to assess commercial viability.
- Zydeco-1 intersects Homeseeker B sand on prognosis at 8,946 ft
- Strong continuous gas shows recorded, de-risking project economics
- Homeseeker B sands comparable to proven MacCabees B-1 well
- Drilling progressing to primary Tweedel Sand target
- Prospective resources up to 13.7 BCFG and 610,000 barrels condensate
Homeseeker B Sand Confirms Strong Hydrocarbon Presence
Galilee Energy’s (ASX:GLL) Zydeco-1 well has struck the Homeseeker B sand at the predicted depth of approximately 8,946 feet true vertical depth (TVD) in Acadia Parish, Louisiana. Continuous high-pressure gas readings while drilling through this interval signal a robust hydrocarbon presence that was not included in the company’s initial financial model, effectively lowering project risk and enhancing upside potential.
The thickness and quality of the Homeseeker B sand closely mirror those of the MacCabees B-1 well, a key offset well that has demonstrated production. This correlation supports Galilee’s pre-drill structural model and confirms the consistency of Homeseeker B depths across the Zydeco area, underpinning confidence in reservoir continuity.
Drilling Advances to Primary Tweedel Sand Target
Following the encouraging Homeseeker B results, drilling is continuing toward the primary target, the Tweedel Sand, where electric logging is scheduled for late July. This next phase will be critical to confirming hydrocarbon pay zones and reservoir quality. Should logs confirm commercial viability, Galilee plans to proceed with well completion, surface facilities installation, and tie-in to the Texas Gas Pipeline, leveraging existing infrastructure for rapid commercialisation.
Zydeco-1 targets a substantial conventional gas-condensate accumulation within the proven Gulf Coast fairway, with unrisked prospective resources estimated at up to 13.7 billion cubic feet of gas (BCFG) and 610,000 barrels of condensate. The well’s positioning approximately 300 feet structurally up-dip from MacCabees et al. B-1 and up-dip of an oil test in the Homeseeker B interval enhances its low-risk profile.
Strategic Growth Anchored by Zydeco Gas Project
Galilee is executing a scalable US Gulf Coast growth strategy centred on low-risk development opportunities and near-term production. The Zydeco Gas Project, covering 325 acres of mineral leases, benefits from proximity to producing fields and a short gas spur line to the Texas Gas Pipeline, facilitating expedited market access.
The company’s US Advisory Board, including recently appointed Gulf Coast geologist Jenni Kessler, brings extensive regional expertise to support exploration and development. Kessler’s track record includes managing multi-million-dollar exploration projects and successful asset divestments, bolstering Galilee’s operational capabilities.
With drilling progressing on schedule and promising early results, Zydeco-1 remains a pivotal catalyst for Galilee’s ambitions to establish a mid-tier US oil and gas presence. The coming electric logging results will be closely watched as they hold the key to unlocking commercial production and validating the broader resource potential.
Bottom Line?
The Homeseeker B gas shows materially de-risk Zydeco-1, but the critical test lies in upcoming Tweedel Sand logging to confirm commercial viability.
Questions in the middle?
- Will electric logs confirm commercial hydrocarbon pay in the Tweedel Sand?
- How will the inclusion of Homeseeker B resources reshape Galilee’s project economics?
- What are the timelines and capital requirements for completing and tying into the Texas Gas Pipeline?