Article originally published by Market Index.

• Omega has started drilling its Canyon-2 well in Bowen Basin, Queensland, as part of its Permian Deep Gas program.
• The program is considered key to the development of Omega’s estimated 3 trillion cubic feet of prospective gas resources and will prove the viability of gas finds in the Kianga Formation and coals in the Permian-aged rocks.
• Fracking program set to kick off later in 2023.

Omega (ASX: OMA) managing director Lauren Bennett hailed the important step as another milestone in helping to secure Australia’s energy security and phase out coal-fired power.

The Canyon-2 well in Bowen Basin, Central Queensland, will be drilled to approximately 3,600 metres with further work – including production testing – expected to be completed later this year.