Waitsia Gas Project Investor Site Tour 3 August 2017 David Biggs CEO and Managing Director
Strong Australian gas markets East coast gas market West coast gas market Market overview Market overview Energy supply issues across NW Shelf confirmed reduced southern Australia contributing supply to WA market to forecast price…
East coast struggling to meet demand Eastern and south-eastern Australia domestic gas production (excluding LNG), 201736 Casino gas to supply re-contracted gas from 2018 BassGas to supply re-contracted gas from 2019 Source…
New fields needed to meet WA demand Waitsia first gas mid 2020 Reproduced with permission. Source: Wood Mackenzie, May 2017. See disclaimer on slide 3. Waitsia Stage 2 and Gorgon Phase 2 needed to meet WA gas market demand…
WA gas market tightening Waitsia first gas mid 2020 Reproduced with permission. Source: Wood Mackenzie, May 2017. See disclaimer on slide 3. Waitsia gas production aligned with customer recontracting window 7
Waitsia Stage 1A exceeds expectations First gas achieved on time and under budget in August 2016 Stage 1A comprises 2 wells in extended production test Senecio-3 and Waitsia-1 Preliminary well performance has exceeded pre-production…
Waitsia Stage 2 growing in value Waitsia-3 and 4 appraisal wells being drilled over May-August 2017 Independent review of Waitsia 2P reserves1 is 34% higher than AWEs current estimate o Certifies capacity to deliver 100 TJ/d for 10…
Waitsia gas marketing strong demand Aiming to contract substantial gas volumes in 2017 ahead of FID Tender process completed in 2016 with positive feedback from potential customers o Waitsia gas increases competition, improves…
Waitsia exciting exploration potential Further development potential in Waitsia beyond Stage 2 Potential to increase production to 150 TJ/d from Stage 2 and existing facilities Largest exploration acreage position in the onshore…
Waitsia A new onshore gas resource for Western Australia Suzanne Hunt GM WA Assets and Engineering Investor Site Tour Dongara/Pt Denison 3rd August 2017
AWE Reserves & Contingent Resources The Reserves and Contingent Resources in this presentation are based on and fairly represent information and supporting documentation prepared by and under the supervision of qualified petroleum…
Agenda AWE in the Perth Basin Waitsia Discovery and History Waitsia Development Regional Setting Summary
AWE Acreage in WA AWE has a substantial Acreage position in the onshore northern Perth Basin; AWE has an interest in a significant number of gas and oil production facilities (Xyris, Dongara, Mt Horner, Beharra Springs, Woodada);…
Waitsia Significance Largest conventional onshore Australian discovery in 30 years Material development with access to existing infrastructure & markets New play has re-invigorated Perth Basin exploration & development Positive for…
Significant 2P+2C Reserves/Resources Upside Review underway to incorporate results of Waitsia-3 Significant upside in the basin from both tight gas (e.g. Senecio, Synaphea, Irwin) and new Kingia/High-Cliff plays yet to be drilled.…
Agenda AWE in the Perth Basin Waitsia Discovery and History Waitsia Development Regional Setting Summary
Onshore Sedimentary Basins and Discoveries Waitsia Western Australias sedimentary basins Significant hydrocarbon discoveries in the Perth Basin 9 Extensive oil and gas activity throughout the Perth Basin
Exploration history Pioneers in the Perth Basin 1952 large scale oil exploration began 1964 Yardarino discovery (which led on to the nearby Dongara discovery). The Premier, David Brand, the Minister for Mines, Arthur Griffith and Robin…
Exploration history onshore North Perth Basin 50 Years 120 exploration wells 13 commercial discoveries PRIOR to WAITSIA 2P reserves 740 BCF & 14 MMBBLS 95% PermoTriassic 95% produced Schematic only 11
Waitsia Fundamentals Permit: L1/L2 Waitsia Gas Project AWE 50% Dongara Production Facility (Operator), Origin 50% Location: the Waitsia gas field is located on agricultural land in the Shire of Irwin, about 14.5 kilometres east of…
PermoTriassic petroleum system & plays Kockatea Shale Senecio3 Regional Seal Oil and Gas Prone Source Rock Unconventional target Dongara DONGARA/WAGINA PLAY Beharra Springs 12 commercial discoveries Senecio/Irwin Carynginia…
The Discovery How did it happen Senecio3 well targeted the DongaraWagina sands. Below this intersection, the team observed further shows of gas. Drill bit was in good condition, well was under budget decision made to continue.…
Structure Lowside fault closure of 50 km2 Crest at 3000m with 350m gross gas column Trap defined by Mountain Bridge & Senecio faults Senecio fault seals despite small throw Stress suggests WE faults prone to…
Kingia & High Cliff correlation Gross thickness 150200m Beach & shoreface setting Quartz sand composition Intervals of good porosity 11% in Kingia & High Cliff good reservoir net sand marker 16 16
High Perm. vs Low Perm. Sandstone Comparison Waitsia Field Senecio/Synaphea/Irwin Fields Kingia/High Cliff Reservoir Dongara/Wagina Reservoir Clay Rims prevent Quartz Cementation Pervasive Quartz Cement with & preserve abundant…
Good reservoir is diagenetically controlled Porosity controlled by diagenesis NOT depth TIGHT GOOD Clay rim formation likely to be influenced by depositional environment Most Kingia wells have some good reservoir deepest to…
Waitsia Field Depth Top Kingia with GWC Senecio3 3348 m SSTVD Kingia/High Cliff 3D Model Waitsia1 Gross gas column of 350m Area 50 km2 Waitsia2 Status: Further Appraisal & Irwin1 Development Planning GWC Early startup with…
Stage 1A EPT Well Performance Results Stage 1A Extended Production Test Objectives Well Test minimum connected OGIP EPT Stage 1A minimum connected OGIP Gather long term well and field production behaviour for input into full field…
Waitsia3 Result Resource to Reserve Changes Indicated
Agenda AWE in the Perth Basin Waitsia Discovery and History Waitsia Development Regional Setting Summary
Discovery sequence Date Activity Result 2005 Senecio1/2 Dongara TIGHT GAS discovery 2013 Irwin 3D Improved mapping Senecio 1/2 in local fault zone 2014 Senecio3 Dongara better quality reservoir (not tested) Well deepened due to very high…
Major success at Waitsia1 Waitsia1 HCSS Oct 2015 3382.2 3405.5mMDRT (23.5m) After an 7 hour cleanup period, the well flowed at an average rate and pressure of 24.7MMscf/d and 1330 psig, constrained by tubing size, on a 60/64 choke…
Waitsia Stage 1A Refurbished Xyris Production Facility Stage 1A involved the construction of new flow lines and infrastructure to connect the Senecio-3 and Waitsia-1 wells to the refurbished Xyris Production Facility with the…
Waitsia1A first gas on time and budget UPDATE PICS 27 First gas from Waitsia Stage 1A (10 TJ/d) achieved in August 2016
Waitsia Stage 2 full field development 344 Bcf of gas gross 2P Reserves (172 Bcf or 30.4 mmboe net to AWE)* The Waitsia joint venture completed the concept select process and agreed to progress directly to a 100 TJ/d Stage 2 full…
Development Plan STAGE 1: DEVELOPMENT & APPRAISAL Connect existing wells to Xyris Production Facility for early sales & to establish drainage efficiency First gas delivered August 2016 Planning to drill 2 further appraisal wells to…
2017/2018 Budget Program Drilling Waitsia-3 and Waitsia-4 from June to August 2017. o These are the final appraisal wells planned ahead of stage 2 development and will provide valuable data and potentially increase our 2P reserves.…
Agenda AWE in the Perth Basin Waitsia Discovery and History Waitsia Development Regional Setting Summary
Environmental Setting Environmental o Development activity is predominantly in cleared, agricultural land so no potential significant environmental impacts o Low density and low traffic project area so minimal social amenity impacts…
Stakeholder Engagement AWE recognises social licence as an integral part of good business practice Social licence is maintained by demonstrating: compliance within regulatory framework striving for HSE excellence disclosure and…
Agenda AWE in the Perth Basin Waitsia Discovery and History Waitsia Development Regional Setting Summary
Summary Waitsia Stage 1A well performance in its year of operations exceeded AWEs preproduction expectations and confirmed high quality conventional reservoir system with excellent connectivity. PreFEED work for Waitsia Stage 2…
Development 36 Waitsia Stage-1A Flowline under construction May 2016
Questions 36 Waitsia Stage1A Flowline under construction May 2016
Conversion Tables Volume 1 cubic metre = 1 kilolitre = 35.3 cubic feet = 6.29 barrels 1 megalitre = 1,000 cubic metres Energy Value 1,000 standard cubic feet of sales gas yields about 1.055 gigajoules (GJ) of heat 1 petajoule…
Waitsia Stage 2 Investor Site Tour 3 August 2017 Steve McCracken Project Director
Waitsia Stage 2 Overview Pre FEED study completed Mar 2017 Internal assurance review completed Commenced design competition with three companies Jun 2017 Design reviews Aug/Sep/Oct 2017 Technical and commercial proposals due Nov…
WGP 2017 Work Plan Schedule 2017 Focus: Complete a successful design competition by Nov 2017 3
Gas Plant - Preliminary 3D Model 4
Field Layout Overview S-3 W-1 Dongara Plant Northern Hub Central Hub DBP Waitsia Gas Plant W-2 Mondarra Plant Cockburn Cement Lateral Xyris Plant W-4 Southern Hub W-3 5 Jul 2017
Field Gathering Schematic ANWA Senecio3 BNA Northern ANWB Waitsia1 BNB HUB BCENA BCENB Waitsia DBNGP Gas Plant Trunklines Parmelia CNWA PL Central Waitsia2 CGPB HUB DMONA CWA Waitsia4 CWfunA DMonB…
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