Elixir Energy Ltd (ASX:EXR) managing director Neil Young joins Jonathan Jackson in the Proactive studio to provide an update on the Daydream-2 well drilling program at its 100%-owned Grandis Project in Queensland’s Taroom Trough.
The company completed a flow test of the Lorelle Sandstone, which was conducted at depths between 4,200 and 4,217 metres. The well was tested at multiple rates and choke sizes, achieving a maximum flow rate of 3.5 million standard cubic feet per day (MMSCFPD).
Stabilised rates ranged between 2.1 and 2.5 MMSCFPD. However, the presence of stimulation fluid in the wellbore suppressed the stabilised rate, suggesting that future production tests using a completion string could improve the flow rate to a stable 3.0 MMSCFPD. Minor amounts of condensate were recovered towards the end of the test. Previously, the unstimulated rate in April 2024 was 1.3 MMSCFPD, showing that the stimulation effectively increased gas flow.
Elixir has begun stimulating five additional zones as part of the ongoing Daydream-2 program, with further flow testing planned after the completion of these operations. The company anticipates reporting further updates in the coming weeks.
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