Integrated alternative and renewable energy business Renergen’s subsidiary, Tetra4, now has a total proven methane net gas reserve of 40.76-billion cubic feet and a proven helium net gas reserve of 1.01-billion cubic feet, following an updated independent reserve review undertaken by MHA Petroleum Consultants.
The updated reserves represent a 12.2% increase in methane and a 16.1% increase in helium on a proven basis relative to the independent review undertaken by MHA in March 2018.
Proved and probable methane net gas reserves amount to about 138.99-billion cubic feet, while proven, probable and possible methane reserves are about 284.18-billion cubic feet.
Proven and probable helium net gas reserves are estimated at 3.41-billion cubic feet, while proven, probable and possible reserves are about 6.86-billion cubic feet.
Renergen CEO Stefano Marani says the company is “pleased with the trajectory of the business” and adds that, through collecting more geological data, the company can remove more risk and better understand how and where to extract the reserves in order to maximise shareholder value.