Australian-listed Bass Oil secures 100% interest in a shut-in gas field with 1.1 billion cubic feet of prior production.
Bass Oil has finalized the acquisition of the Vanessa gas field in South Australia’s Cooper Basin, gaining full control of PPL 268 and PRL 135. The deal includes a shut-in production well, a gas processing facility with a 10 mscf/d capacity, and a 5km pipeline connected to the regional network. Regulatory approval from the South Australian Department of Energy & Mining was the final hurdle before ownership transfer.
The Vanessa field, drilled in 2007 and operational by 2018, produced 1.1 billion cubic feet at an initial flow rate of 3.5 mscf/d during its first two years. The facility has been idle but is now slated for recommissioning, with engineering assessments already underway. Bass Oil targets first gas sales from the field by late 2026, supported by GPA Engineering’s certification efforts.
Managing director Tino Guglielmo highlighted the acquisition as a strategic entry into the East Coast gas market, citing strong demand and pricing as key drivers for profitability. The move aligns with Bass Oil’s push to expand its production footprint in a tightening domestic gas market.