Energy Club NT - CTP: June Quarter Report highlights a 28% increase in half year sale revenues

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CTP: June Quarter Report highlights a 28% increase in half year sale revenues

CTP: June Quarter Report highlights a 28% increase in half year sale revenues

28 Jul 2025 1:50 PM | Anonymous

MEREENIE OIL AND GAS FIELD (OL4 AND OL5) – NORTHERN TERRITORY

CTP - 25% interest (and Operator), Echelon Mereenie Pty Ltd - 42.5%, Horizon Australia Energy Pty Ltd - 25%, Cue Mereenie Pty Ltd - 7.5%

Average gross gas sales from the Mereenie field were 3% higher than the previous quarter, averaging 28.0 TJ/d (100% JV), slightly below full capacity due to maintenance activity and temporary oil offtake constraints. The two new Mereenie wells continue to perform above pre-drill expectations and are contributing almost 25% of Mereenie’s current total sale volume capacity.

The gas sales capacity of the Mereenie field (excluding the temporary impact of oil offtake constraints) was approximately 30 TJ/d (100% JV) at the end of the quarter.

Oil sales averaged 287 bbls/d (100% JV) during the quarter. Oil sales have been partially constrained under the existing offtake arrangements. To manage this constraint, Central has temporarily shut in four lower gas-to-oil ratio wells and reduced total oil sales volume by approximately 37 bbls/d (Central share). When these wells are offline, Central’s share of Mereenie’s sales gas capacity is reduced by approximately 5%, or 0.4 TJ/d (1.4 TJ/d 100% JV). The constraint on Mereenie’s production is expected to be resolved over the coming months and is not anticipated to have an ongoing long-term impact.

PALM VALLEY (OL3) – NORTHERN TERRITORY

CTP - 50% interest (and Operator), Echelon Palm Valley Pty Ltd - 35%, Cue Palm Valley Pty Ltd - 15%

Production from the Palm Valley field averaged 6.9 TJ/d over the quarter (Central share: 3.45 TJ/d), 3% lower than the previous quarter due to planned maintenance and natural field decline. Sales capacity was approximately 7.0 TJ/d (100% JV) at the end of the quarter. The Palm Valley JV has been progressing permitting and approvals for two new Palm Valley appraisal wells to increase field production capacity, subject to market conditions and a joint venture final investment decision.

DINGO GAS FIELD (L7) – NORTHERN TERRITORY

CTP - 50% interest (and Operator), Echelon Dingo Pty Ltd - 35%, Cue Dingo Pty Ltd - 15%

The Dingo gas field supplies gas directly to the Owen Springs Power Station in Alice Springs. Sales volumes were 1% lower than the previous quarter, averaging 4.2 TJ/d (Central share: 2.1 TJ/d).

Source: Central Petroleum

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