CURRENT PROJECTS
CANYON-1 PROJECT
The Canyon-1 project has made significant strides since its September 2024 spudding. The Canyon-1H horizontal well, drilled to a total depth of 4,616 metres with an 822-metre horizontal section, targets the Canyon Sandstone in the Permian Kianga Formation. A January 2025 Diagnostic Fracture Injection Test confirmed high overpressure of 0.79 psi/ft and favourable reservoir properties, setting the stage for the multi-stage hydraulic fracture stimulation that commenced on March 2, 2025.
With independently assessed gross contingent gas resources of 1.73 TCF (2C) and 4.50 TCF (3C), the project is currently in its flowback and well testing phase, positioning Omega to potentially address Eastern Australia’s projected gas supply shortfall.
CANYON-2 PROJECT
Spudded on March 19, 2023, the Canyon-2 well achieved outstanding exploration success, intersecting 293 metres of gas and liquid hydrocarbon shows within the Kianga Formation and upper Back Creek Group.Â
Drilled to a depth of 3,807 metres, the well exceeded expectations with confirmed hydrocarbon pay and average porosity surpassing 9%. This significant discovery is crucial for de-risking Omega’s prospective gas resource of 3TCF and 233mmbbls of associated liquids.
With lab analysis confirming liquids-rich gas presence and evidence of overpressure, Omega is now preparing for hydraulic stimulation and flow testing to further advance the project.
