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WestSide Corporation boosts Queensland coal seam gas production by 22.4% to 305 terajoules

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WestSide Corporation (ASX:WCL) continues to ramp up production at its Meridian SeamGas project in Queensland’s Bowen Basin with gas output up 22.4% to 305 terajoules in March 2012 over the same period last year.

Coal seam gas production for the March 2012 quarter was also up 10.6% over the December 2011 quarter.

This upward trend has continued into the first week of April, with average daily net production reaching about 6.2 terajoules (12.2 terajoules gross production), up from average net production of just above 5 terajoules in March.

The company said this was due to another of its new dual lateral wells reaching the desorption point.

It added that all 7 of its new dual lateral and 3 new updip laterals were now on pump and that while just 4 were producing at significant volumes, the ramp up of the remaining 6 wells would further increase production.

WestSide had earlier this month successfully raised A$25.4 for its Queensland coal seam gas growth plans through an oversubscribed 2 for 5 pro rata non-renounceable entitlement offer.

The company is targeting production of 25 terajoules of gas per day by the end of this year from current output of about 11 terajoules per day.

Quick facts: WestSide Corporation Limited

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ASX:WCL
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