PROJECT VALHALLA
Unlocking One of Australia’s Last Undeveloped Major Gas Projects
Project Overview
Project Valhalla is located in the Fitzroy Trough, west of the Fitzroy River, within the Canning Basin—one of the largest undeveloped gas reservoirs in the world.
Its strategic location provides a permanent competitive advantage, positioned near key gas markets, including serving Western Australia’s domestic supply. Supported by conditional government approval for export, the project is advancing environmental permitting and formal approvals. Strong partnerships with local stakeholders and Traditional Owner groups further strengthen its development potential.
Led by an experienced team, Project Valhalla is poised to unlock a scalable, long-term energy solution for Australia’s energy security.
PROJECT VALHALLA
Unlocking One of Australia’s Last Undeveloped Major Gas Resource
Project Overview
Project Valhalla is located in the Fitzroy Trough, west of the Fitzroy River, within the Canning Basin—one of the largest undeveloped gas reservoirs in the world.
Its strategic location provides a permanent competitive advantage, positioned near key gas markets, including serving Western Australia’s domestic supply. Supported by conditional government approval for export, the project is advancing environmental permitting and formal approvals. Strong partnerships with local stakeholders and Traditional Owner groups further strengthen its development potential.
Led by an experienced team, Project Valhalla is poised to unlock a scalable, long-term energy solution for Australia’s energy security.
Proven and Progressing Resource
Project Valhalla has a strong foundation, historically held by Buru Energy and Mitsubishi, with three existing wells and successful gas flows to the surface. Independent technical experts have estimated 1.5 TCF of contingent gas resources and 29.6 MMbbl of condensate, defined by these historical vertical wells.
As part of our development strategy, 2D seismic and appraisal drilling plans are progressing, with a roadmap to execute seismic surveys, secure approvals, and drill the first horizontal appraisal wells. Basin-wide drilling and seismic campaigns provide an opportunity to leverage operational synergies and accelerate activity, supported by engaged local communities and Traditional Owners.
Favorable market conditions, including global gas shortages, rising prices, and spare ullage at onshore LNG plants, create a clear path to commercialization.
By The Numbers
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TCFe
Total estimated natural gas opportunity
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TCFe
Contingent natural gas resources (2U estimate)
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TCFe
Prospective natural gas resources (2U estimate)
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0
km²
Exploration permit area (~905,000 acres)
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0
km²
Gross contiguous acreage (~1.7 million acres)
Proven and Progressing Resource
Project Valhalla has a strong foundation, historically held by Buru Energy and Mitsubishi, with three existing wells and successful gas flows to the surface. Independent technical experts have estimated 1.5 TCF of contingent gas resources and 29.6 MMbbl of condensate, defined by these historical vertical wells.
As part of our development strategy, 2D seismic and appraisal drilling plans are progressing, with a roadmap to execute seismic surveys, secure approvals, and drill the first horizontal appraisal wells. Basin-wide drilling and seismic campaigns provide an opportunity to leverage operational synergies and accelerate activity, supported by engaged local communities and Traditional Owners.
Favorable market conditions, including global gas shortages, rising prices, and spare ullage at onshore LNG plants, create a clear path to commercialization.
By The Numbers
0
TCFe
Total estimated natural gas opportunity
0
TCFe
Contingent natural gas resources (2U estimate)
0
TCFe
Prospective natural gas resources (2U estimate)
~
0
km²
Exploration permit area (~905,000 acres)
~
0
km²
Gross contiguous acreage (~1.7 million acres)
Strategic Market Access
Project Valhalla’s proximity to key gas markets provides multiple commercialization pathways, primarily supplying Western Australia’s domestic gas market, with additional opportunities in Eastern Australia and international LNG exports.
The project benefits from several potential gas commercialization routes, including existing LNG facilities, downstream production assets, Northern Territory LNG infrastructure, greenfield export opportunities, and short-term gas sales.
Potential commercial pathways:
- Existing LNG facilities or WA gas market
- Downstream production asset
- Existing Northern Territory LNG facilities
- Greenfield export opportunities
- Domestic East and SE coast gas market
- Short term gas sales
Project Documents
State Approval Process
Commonwealth Approval Process
Other Documents
Project Updates
For the latest announcements and updates on Project Valhalla, please visit our Project Updates announcements page.
Black Mountain recognises Aboriginal and Torres Strait Islander peoples as Australia’s first peoples. We acknowledge the unique connection that First Nations peoples have to land, waters and the environment. We extend this recognition and respect to First Nations peoples and communities around the world.
Project Updates
For the latest announcements and updates on Project Valhalla, please visit our Project Updates announcements page.
Black Mountain recognises Aboriginal and Torres Strait Islander peoples as Australia’s first peoples. We acknowledge the unique connection that First Nations peoples have to land, waters and the environment. We extend this recognition and respect to First Nations peoples and communities around the world.