Conventional oil & gas
Cooper – Eromanga Basin
Bridgeport Energy holds 850 km² of net oil producing acreage over nine production projects, located in the Cooper-Eromanga Basin.
Figure 1 – Cooper-Eromanga Basin Bridgeport Assets.
Greater Kenmore – Bodalla Area (GKBA) – PL 31: Bodalla South, PL 32: Kenmore, PL 47: Black Stump, PL 1063: Bargie and PL 1064: Marcoola, Glenvale / Coolum & Byrock oil fields – 589 km² gross, 100% interest.
These seven oil fields are located on the south-eastern flank of the Cooper-Eromanga Basin in southwest Queensland. Bridgeport owns substantial production infrastructure, including separator, tanks, flowlines and generator-driven pumps. As part of the pre-acquisition due diligence, numerous workover candidates were identified that provided Bridgeport (Cooper Basin) Pty Ltd with cost effective reserves replacement.
PL 98: Inland Oil Field – 40 km² gross, 100% interest.
Bridgeport (Eromanga) Pty Ltd is the sole interest holder and operator of the Inland Oil Field. The field is located west of Windorah, southwestern Queensland. Bridgeport owns the producing infrastructure, a facility capable of storing up to 3,000 barrels of oil, in addition to the equipment inventory and access roads.
PL 214: Utopia Oil Field – 220 km² gross, 100% interest.
The Utopia Oil Field is situated southeast of the Eromanga Township, in southwestern Queensland. Bridgeport’s subsidiary, Oilwells, Inc. of Kentucky, is the operator. Utopia is not normally manned, and Oilwells, Inc. of Kentucky owns and manages the equipment inventory, the producing infrastructure, facilities, and access roads.
PL 303: Cuisinier Oil Field – 76 km² gross, 15% interest.
The Cuisinier Oil Field is operated by Santos in PL 303 & PL 1028, southwest Queensland. These leases cover 76 km² in area and are located approximately 15 km west of the Cook Facility, also operated by Santos. Besides its 15% producing interest, Bridgeport (Cooper Basin) Pty Ltd has contracted rights to export its crude through the nearby Cook facility to the Moomba inlet and then to Port Bonython, SA.
ATP 1189N: Jackson / Naccowlah Area – 2,007 km² gross, 2% interest.
Bridgeport (Eromanga) Pty Ltd has a 2% interest in 25 PLs in the Jackson production area, and in the ATP 1189N exploration block, which are operated by Santos. In 2021, Bridgeport acquired 100% ownership of the Jackson oil truck loading facility, which allows alternative crude transportation through IOR.
In addition to its producing assets, Bridgeport holds net exploration acreage totalling 2,152 km², in a substantial portfolio of exploration tenements across the Cooper-Eromanga Basin.
ATP 2021: Vali and Kinta Gas Fields – 370 km2 gross, 25% interest.
Vintage Energy is operator of ATP 2021, an exploration permit in southwest Queensland, adjacent to the border with South Australia. The permit includes two developing gas fields, Vali and Kinta and a portion of the Odin field, which extends into the adjacent PRL 211 in South Australia. As of Q1-2023, the Vali Field is producing gas.
PRL 211: Odin Gas Field – 99 km² gross, 25% interest.
In Q2-2021 the Odin-1 well (PRL 211) was drilled to a depth of 3,140 metres in northeast South Australia, on a four-way closure that is interpreted from 3D seismic to extend into Queensland (ATP 2021) approximately 5 km west of the Vali Field. Odin-1 discovered gas pay in the Patchawarra, Epsilon, Toolachee, and Tirrawarra Formations and is now producing gas into the Santos transport facilities.
ATP 752: Barta / Wompi Blocks – 472 km² gross, 15% / 17.5% interest, respectively.
ATP 752 comprises the Barta (381 km²) and Wompi (91 km²) blocks, both operated by Santos Limited. Bridgeport’s interest in the northern Barta block is 15% and in the southern Wompi block is 17.5%. ATP 752 is covered by three PCAs; one on Wompi (PCA 155) and two on Barta (PCAs 206 and 207).
ATP 2022: Morney – 441 km² gross, 100% interest.
ATP 2022 is an exploration tenement on the north-eastern flank of the Cooper Eromanga Basin in southwest Queensland, west of the Windorah Township. This tenement encompasses the Morney High, which is a massive anticlinal structure immediately up-dip of the Inland Oil Field. Three wells (Morney-1, 2, & 3) have been drilled, with oil shows being reported in Morney-1 and 2. A gravity meter survey was recorded in the tenement in CY2023 followed by the acquisition of a small 2D seismic survey.
ATP 2023: Akama – 434 km² gross, 30% interest.
ATP 2023 is located on the southeast margin of the Cooper Basin in southwest Queensland. The Permit grant occurred in Q2-2020 for an initial 4-year term exploration period. Bridgeport subsequently farmed out 20% working interest to Banjo Energy Pty Ltd & Gas Pty Ltd and a 50% interest to Santos Limited, who is the designated operator.
ATP 2024: Olba – 421 km² gross, 80% interest.
ATP 2024 is located on the southeast margin of the Cooper Basin in southwest Queensland, the southern boundary of which is only 5 km north of the large Jackson Oil Field. Bridgeport operates on behalf of a joint venture comprising Banjo Energy Pty Ltd – 20% and Bridgeport – 80% interest. A 200 km² 3D seismic survey was acquired in late 2022 to mature oil plays for the drilling of two wells in CY2024.
Jundah Project – ATP 2025, ATP 2026, ATP 736, ATP 737, & ATP 738: 4,213 km² gross, 25% interest.
These tenements are located on the eastern flank of the Cooper-Eromanga Basin in southwest Queensland, in proximity to the Jundah Township. Origin Energy, the operator, is in the process of transferring back to Bridgeport its 75% interest of each permit. This process will result in Bridgeport Energy (QLD) Pty Limited being the 100% owner and operator of the Project.
Surat Basin
Bridgeport Energy’s producing asset within the Surat Basin is the iconic Moonie Oil Field – an important piece of Australian oil history with a great future.
Figure 2 – Surat Basin Bridgeport Assets.
PL 1 (1): Moonie Oil Field – 201 km² gross, 100% interest.
The first petroleum lease in Queensland, PL 1, is located in southeast Queensland and is approximately 250 km southeast of Roma Township. Bridgeport (Surat Basin) Pty Ltd acquired the Moonie Oil Field from Santos in 2016. The 1961, Moonie-1 discovery well intersected oil within sandstones of the Precipice (primary reservoir) and Evergreen formations. Bridgeport operates and maintains the wells, oil tank storage, flowlines and evaporation ponds, while co-produced gas satisfies a part of the onsite fuel requirements. Significant contingent resources have been assigned from the Company’s enhanced oil recovery (EOR) project.
PL 1 (2): Cabawin Gas-Condensate Field, 54 km2 gross, 83.3% interest.
Bridgeport (at 83.3%) also operates the Cabawin Field in PL 1 (2), located approximately 30 km north of the Moonie Field. The primary reservoir is the Late Permian Kianga Formation, which contains undeveloped gas and liquids resources. Industry interest in this area has increased since the Canyon-2 Permian gas discovery by Omega Energy in March/April 2024.
PL 15: FO – 259 km2 gross, 25% interest.
Bridgeport Energy (QLD) Pty Limited holds a 25% interest in PL 15FO, situated approximately 30 km south of the Surat Township, in south-eastern Queensland. AGL Energy is the operator of PL 15.
Otway Basin
Bridgeport Energy has three exploration permits in the Otway Basin; two onshore (PEP 150 & 151) and one offshore (Vic/P007191(v)) – totalling 4,508 km2 of exploration acreage. Recently, there has been renewed industry interest in the Otway Basin, following the lifting of the onshore petroleum exploration moratorium in July 2021. Bridgeport is currently seeking farm-in interest in its oil and gas-prone exploration tenements.
PEP 150: Digby – 3,210 km² gross, 100% interest.
PEP 150 is located in the onshore Otway Basin in southwest Victoria. Bridgeport has a 100% interest in this permit which was granted in Q2-2013. The Portland Township is in the southern region of the permit, which is serviced by nearby gas pipelines. Several large leads, including Hoss, have been identified within the tenement and numerous hydrocarbon recoveries in nearby wells indicate that a working petroleum system is present.
PEP 151: Arkarua – 859 km² gross, 100% interest.
PEP 151 is adjacent to PEP 150, in the Otway Basin. Bridgeport (Eromanga) Pty Ltd presently holds 100% interest in the permit. The 2D Morgan seismic survey, acquired in 2014, successfully identified conventional prospective resources within the Casterton Formation in the Arkarua-1 well.
VIC / P007191 (V): Bonanza – 439 km2 gross, 100% interest.
This Otway Basin exploration block is in the State waters of southwestern Victoria and is contiguous with Bridgeport (Eromanga) Pty Ltd’s onshore PEP 150 tenement. The permit contains two large gas leads; the Bonanza structure (108 km2) and the Ponderosa lead (55 km2) targeting sandstone reservoirs in the Waarre Formation.
Environment & sustainability projects
Moonie CO2 – EOR Project
The Moonie tertiary enhanced oil recovery (EOR) project using CO2 has been suspended indefinitely.
On 12 June 2024 the Queensland State Parliament passed legislation (the Mineral and Energy Resources and Other Legislation Amendment (MEROLA) Act 2024) banning all projects that inject greenhouse gas (GHG) streams, including CO2, within the area of the Great Artesian Basin.
The objectives of the Moonie CO2-EOR project were to recover up to 8 million barrels of additional oil through EOR, and sequestrate up to 10 million tonnes of CO2 in an environmentally responsible manner – CO2 that will now be emitted to the atmosphere.
Before this legislation was passed, using CO2 for carbon capture utilisation and storage (CCUS) projects was authorised under the Petroleum Act.
This legislation, implemented without industry consultation, has resulted in multiple lost opportunities for the state of Queensland:
- lost royalties from potential increased oil production, and
- fewer potential methods to meet the state’s ambitious GHG reduction targets by banning the ability to sequester CO2 in an area where oil currently is and has been extracted for decades.
Considerable resources have been devoted to this project, which was well advanced in the rigorous state government approval process.
Bridgeport intends to pursue other avenues to progress tertiary extraction of oil using non-GHGs, including nitrogen, to enhance oil recovery from the Moonie Oil Field.
Kenmore & Eromanga Energy Project
The Kenmore & Eromanga Energy Project (KEEP) explores the opportunity to generate hydrogen in the vicinity of the Kenmore Oil Field in southwest Queensland.
Currently Kenmore produces approximately 3.5ML per year of water associated with oil production – some of which is used by local landowners for stock watering, and some of which could be reused as part of this project.
The Project intends to provide clean water to the township of Eromanga, which will also be used as a feedstock for the production of green hydrogen to be used to partially decarbonise Bridgeport’s operations by displacing diesel with a renewable hydrogen dual fuel system, fitted to existing stationary engines and generating units.
The process involves distilling produced water through a flash distillation unit (FDU) then converting it to hydrogen through an electrolyser. Following initial testing in Australia in 2020, a second-generation FDU is now being developed and tested in the USA.
The FDU is powered by a large solar array that reflects and directs solar radiation into a distillation conduit.
As at August 2024, team at Bridgeport has completed a dual fuel feasibility study. Field testing of the FDU is expected to take place during 2025, and the outcomes will guide the next phase of the project.
As the hydrogen will be produced using solar energy and batteries, this may also provide an opportunity to supply renewable energy to the citizens and businesses of Eromanga within the Quilpie Shire Council area. The KEEP project is designed to meet the challenges of regional Queensland through provision of clean and secure electricity, green hydrogen production and water supply to remote communities.