Metgasco says it needs about 1000 wells to make the money it predicts in a recent economic forecast report
Metgasco says it will need about 1000 wells operating in the Casino area to make its economic forecasts come true.
A recent report commissioned by the company estimates it will inject about $2 billion into the Northern Rivers economy over 20 years.
It also predicts 1000 jobs will be created during the construction phase, with about 950 permanent positions available when production starts.
Metgasco’s chief executive, Peter Henderson, says the number of wells needed could shrink as technology improves.
“In round figures about 1000 wells or so but the number of wells depends on a whole range of factors,” he said.
“Not only the size of the total sales, but also in the productivity of the wells.
“So that if we can get twice as much gas per well, then we can reduce the number of wells we need.
“Clearly that’s the goal we have, to minimise our own cost but also to minimise the imprint we have on the land.”
Source ABC News