Queensland Targets 9,000 Barrels Daily Oil Production
Fresh discussions regarding oil drilling have emerged in Moonie, Queensland, after more than 60 years since the area last struck oil. Queensland officials are evaluating the resumption of oil drilling operations in the Mooney region. Current estimates suggest production could reach approximately 9,000 barrels per day within two years. The resource is located approximately 5,000 feet below the surface in cleared scrub areas. Recent developments in the region have caused activity on stock exchanges. Local excitement regarding the output potential remains high. The industry has evolved from an initial production level of approximately 1,600 barrels per day primarily from gas. Geologists noted a strong water drive contributed to the industry's growth in the Mooney region. The development follows historical challenges with communication infrastructure in the area.
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Sources · 7 independent
“after more than 60 years after they struck oil, there's now fresh talk about drilling for black gold in Queensland again.”
“Now we're taking you to a place now that once caused pandemonium on the stock exchange because of an oil strike... there's now fresh talk about drilling for black gold in Queensland again.”
“What's been happening here in recent weeks has caused pandemonium on the stock exchanges. And if Mooney keeps its early promise to us, Australia will never be the same again.”
“Mooney in Queensland, this bare patch of cleared scrub. at about 9,000 barrels per day within two years. Five thousand feet below me is oil.”
“When I started there it was doing about 1,600 barrels a day and that was on gas. Then it started, the water drive there was very strong.”
“The Queensland Government is once again looking at southern Queensland for answers to fuel. Northwest of Mooney is the Tarum Trough, an oil and gas area about the size of Singapore.”
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