Sino Gas & Energy has announced a 227% increase in gas reserves at its coal bed methane blocks in the Ordos Basin, China, to one trillion ft3. This is an increase from 327 billion ft3 reported in March 2013.
“The increase during the year was driven by step-out drilling that increased the area of contingent resources and the seismic programs which almost doubled the percentage of acreage classified as prospective. The extensive drilling program also supported a further expansion of the discovered area, which increased 44% during the year,” the company said.
The economic valuation of Sino Gas’ share in the project increased by 45% in 2013 from US$ 1.6 to US$ 2.3 billion.
The assessment was carried out by Australia based RISC Operations Pty Ltd.
Sino Gas holds a 49% interest in Sino Gas & Energy through the strategic partnership with MIE Holdings Corporation.
Edited from various sources by Katie Woodward
Read the article online at: https://www.worldcoal.com/cbm/17032014/increased_reserves_at_chinese_cbm_blocks_624/