Oil and gas explorer Whitebark Energy has started a formal process for the sale of its wholly owned Warro gas field in Western Australia (WA).
The Warro gas field is located in blocks EP 407 and EP 321 onshore, within the Perth Basin in WA. It is 200km north of Perth.
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It covers an area of 7,000ha and is located at a depth of 3,750m. The field is considered as one of the largest undeveloped onshore gas fields in WA.
Whitebark Energy is evaluating opportunities to maximise the full potential of the Warro gas field and is seeking a buyer for the project.
Whitebark Energy managing director David Messina said: “The Warro field contains an enormous amount of gas, but it requires an operator with the expertise to commercialise a technically challenging field and leverage off the work that has already been undertaken.
“Whitebark has had success at the Wizard Lake oil project in Canada and will continue to focus there. The lifting of the Moratorium in WA and the increasing interest in new gas sources in WA means that we can identify and consider options on how best to develop and realise value from our remaining Western Australian asset.”
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By GlobalDataAdelaide Equity Partners has been appointed by Whitebark to facilitate the process, which may involve the full or partial sale of the asset.
In March, Whitebark’s wholly owned subsidiary Salt Bush Energy terminated the definitive agreement to acquire the residual 40% interest of the Wizard Lake Oilfield in Canada.
