S&P Global Recognises Lion-1 as a High Impact Well

Leading international firm Global Commodity Insights (S&P) has recognised Lion-1, Gulf Energy’s proposed first exploration well in the Bamaga basin, as a High Impact Well (HIW). S&P provides high quality research and insights and essential intelligence about the oil and gas industry.

In a S&P December 2022 article entitled “2022 exploration drilling review and 2023 High Impact well (HIW) drilling outlook”, written by Jack Rivers and Stuart Lewis, list the 2022 exploration wells that found the most oil and gas and their impact on the overall global petroleum reserves situation.

They also pinpoint HIW for 2023 and on their list is Lion-1, the first Gulf Energy exploration well planned for its Q/23P project in the Gulf of Carpentaria, Queensland.

The Lion Prospect is a four-way dip closure covering 245 square kilometres, with the potential to hold 3.8 Tcf of natural gas recoverable resources (Base Case), and possibly as much as 10.3 Tcf.

S&P indicate Lion-1 will be drilled this year but it is more likely to be drilled in 2024.

You can read the full S&P Global article here.