Black Mountain Energy is creating its Valhalla project to unlock a new natural gas resource for Western Australia while pursuing a significant undeveloped hydrocarbon potential in multiple formations in its Half Moon Project.
Developing the project will enable us to supply and export gas from Western Australia, with multiple commerciality pathways, including LNG backfill, direct export, and blue hydrogen. The project has attractive cost of development and scalability compared to other undeveloped resources. There is also a strategic permanent advantage in BME’s proximity to Asian LNG offtakers for Australian natural gas.
We are working closely with local stakeholders and Traditional Owner groups who are supportive of Project Valhalla and want to see the project succeed.
BME has the right skillset to commercialize Valhalla, using our experience in developing natural gas projects in other parts of the world in a new Australian setting, and we have received approval from the Western Australian Government “allowing the export of gas from the Valhalla gas field”.
Learn more about Valhalla here
Black Mountain Energy Ltd through its wholly owned subsidiary, Seven Rivers Operating LLC, owns acreage and 8 producing wells in the Permian Basin New Mexico. We are aggressively developing the Company’s interest in the Permian under the leadership of Rhett Bennett who has previously, as CEO of Black Mountain Oil & Gas, sold 21,000 net surface acres largely in the Permian’s Northern Delaware basin of New Mexico for USD$700 million in cash.
The Company commenced its Permian campaign in early 2023 with the acquisition of 8 producing wells and 3,200 acres gross (1,310 net) non-operated acreage. While the acquisition has provided immediate gas production and revenue from the older late life wells, the Company believes that significant undeveloped hydrocarbon potential exists in multiple formations which underpinned the rationale of the January 2023 Half Moon prospect acquisition.
The Permian Basin is renowned for vast oil and gas reserves and record-breaking daily production levels that established the United States as the largest producer in the world. The geology of the Permian Basin is arguably special because it contains multiple “stacked plays.” These enable a single well to produce oil and natural gas from several layers of rock in different geological zones. That multiplies the basin's natural resource potential.
The Permian Basin, with its abundant resources, favourable geological structures, and advanced drilling technology, the region is poised to remain a major player in the energy market for years to come.
Learn more about Half Moon here