Bass Oil (ASX: BAS) has reported an increase in production and revenue for January 2025, driven by higher output from its Cooper Basin operations and stable production from its Indonesian assets.
Total sales revenue for the month reached US$436,282 (A$700,854), up 2.9% from December. The company produced 7,644 barrels of oil, with an average daily production rate of 247 barrels per day (bopd).
Cooper Basin output rises following pump upgrade
Production from Bass Oil’s 100%-owned Worrior and Padulla fields in the Cooper Basin increased 6.6% to 3,662 barrels, while sales volumes rose 9.4% to 2,639 barrels. The company achieved an average sales price of A$127.53 per barrel, up 6.8% from December.
The production boost follows a successful pump change at Padulla 3 and strong uptime performance at both Worrior and Padulla, with operational efficiency of 99% and 97%, respectively.
Kiwi gas field analysis supports larger gas play
Bass has completed pressure transient analysis at the Kiwi-1 well, confirming no measurable pressure decline during the production test. The results suggest the presence of a larger stratigraphic trapping mechanism, indicating potential for an expanded gas resource in the Triassic formations surrounding the Arrabury Trough.
The company has begun a study to determine the extent of this gas play, which could unlock further development opportunities in the region.
Indonesian operations steady despite minor disruption
Production from the Tangai-Sukananti fields in Indonesia averaged 128 bopd, with 3,982 barrels produced and 3,954 barrels sold at an average price of US$75.01 per barrel. Production was slightly lower due to a temporary shutdown at Tangai-5 for flowline repairs.
Meanwhile, Bass is progressing with the Bunian-6 development well, located southwest of the producing Bunian-3 well. Site preparation is complete, and the company is finalising drilling rig availability to confirm a spud date.
Path forward
Bass Oil continues to focus on increasing production from its Australian and Indonesian assets while advancing its gas appraisal projects. The company expects to receive cash receipts for oil sales before the end of February and is targeting further development opportunities in the Cooper Basin and Sumatra.
