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Curzon

Regency owns 8.9% of Curzon Energy Plc, which is developing its 100% owned Coos Bay, Oregon coal bed methane project in the United States.

Key Facts

Gas assets located in the Pacific Northwest

Operated by Curzon Energy Plc

Curzon's Wells are Located in a Historic Logging Region
Curzon’s Wells are Located in a Historic Logging Region

 

5 Wells with Pads and Water Tanks are In Place
5 Wells with Pads and Water Tanks are In Place

 

  • Curzon Energy is 100% owner and operator of approximately 47,000 acres of known and tested Coalbed Methane (CBM) Gas accumulations in the Coos Bay area of Oregon.
  • Eocene aged Coal Bed Methane Gas in Coos Bay Oregon at a depth from 4000ft to the surface
  • CBM is created during the formation of coal. Methane is trapped by water within a coal seam. Relatively low cost wells are drilled into the coal seam and when the water is pumped out the coal starts releasing methane gas.
  • Previous operator has spent C. $37m to date and has drilled 5 wells and laid 4 miles of pipeline running from these 5 wells. This existing pipeline infrastructure is ready to be connected and within 15 metres of the regional pipeline. The regional Coos Bay pipeline has a capacity of 3.9 BCF/day.
  • The 5 wells tested gas up to 100 Mscf/day each in an area selected for initial development due to proximity to a regional gas pipeline. Nearby wells test up to 500 Mscf/day.
  • The Coos Bay asset contains 86 to 419 BCF of contingent resources and up to 1,000 BCF of CBM gas in-place, and an average gas content of 148 scf/ton.
  • Total net thickness up to 70+ ft from over 10 coal seems, and average permeability of 6 md.
  • CBM wells are different from conventional gas wells as they tend to be cheaper to drill as are mainly a lot shallower. CBM wells also produce gas for a lot longer than conventional gas wells.

Phase 1 (Currently ongoing): Reentry and and produce from 5 x existing wells, drill 2 x new wells, add gas compression and water disposal infrastructure, connect to 12in regional pipeline – Midcase resource estimate of 2.75 BCF

Phase 2 (36 Months): Up to 58 New Developmental Wells – Midcase resource estimate of 22.4 BCF – Equity and Debt Funded

Phase 3: (< 5 Years): Up to 400 new wells – Funded by Debt

One of 5 Existing Wells Awaiting Long Term Testing and Connection to the Regional Pipeline
One of 5 Existing Wells Awaiting Long Term Testing and Connection to the Regional Pipeline

 

Gas, widely considered the “fuel of the future”, continues to be the preferred fossil fuel in the United States having risen in 2015 to 33% of US power consumption with steadily increasing demand and relatively low levels of development activity and the Board of Regency considers Curzon an ideal access vehicle to this growth market.

12in Coos Bay Gas Pipeline Runs Across the Property is <10m from Existing Field Infrastructure
12in Coos Bay Gas Pipeline Runs Across the Property is <10m from Existing Field Infrastructure

Other Operations and Investments