Business · Energy & Commodities · 1 hr ago
Omega's Canyon-4 well finds more oil and gas-bearing rock in Queensland
Omega Oil & Gas drilled the Canyon-4 well in Queensland’s Taroom Trough to assess its oil and gas potential.
The well found 197 metres of net pay, the company’s best result so far and more than the 170 metres found at Canyon-3.
Logging also measured 12.1% average porosity in the main Canyon Sandstone target, compared with 7.4% at Canyon-1.
Porosity is the space in rock that can hold oil or gas, and higher porosity may help these fluids flow.
The well also encountered several oil and gas-bearing reservoir intervals, supporting the company’s view that the play may extend across a wider area.
These findings could help Omega identify where to drill future appraisal and development wells, but more testing is needed to establish the resource and flow rates.
The company plans to move its rig to drill Canyon North-1, followed by Canyon North-2, to test the play’s northern extension.
Omega Oil & Gas said its Canyon-4 well in Queensland intersected 197 metres of net pay in an oil and gas-bearing sequence.
The well recorded 589 metres of gross oil and gas-bearing rock, compared with 526 metres at Canyon-3.
Average porosity in the primary Canyon Sandstone target was 12.1%, up from 7.4% at Canyon-1.
Omega said the results support resource growth potential and strengthen confidence in reservoir continuity across the Taroom Trough’s eastern flank.
The company plans to drill two more wells to test the play’s northern extension.
- Who
- Omega Oil & Gas, an Australian-listed company.
- What
- Its Canyon-4 well intersected oil and gas-bearing rock with 197 metres of aggregate net pay.
- When
- The results were reported on October 12, 2026.
- Where
- The Taroom Trough in Queensland, on its eastern flank.
- Why
- The well was drilled to test reservoir continuity, quality and hydrocarbon distribution across Omega’s acreage.
This story does not have two clearly opposing sides.
Encouragingly, we are encountering improved reservoir characteristics with each well drilled in our extensive appraisal program.
Each successful appraisal well gives us greater confidence in our geological model and improves our ability to predict the nature and distribution of these reservoirs, as we take the program north into ATP 2081 and evaluate the play’s potential continuation to the south.
Average porosity in the primary Canyon Sandstone target was 7.4%.
The well intersected 526 metres gross and 170 metres net pay.
The well was drilled about 8 kilometres south and 100 metres structurally updip from Canyon-3.
Stockhead reported Canyon-4’s results.
Omega said Canyon North-1 would test the play’s northern extension, with Canyon North-2 also planned.
- Canyon-4 gross sequence
- 589 metres
- Canyon-4 aggregate net pay
- 197 metres
- Canyon-4 Canyon Sandstone porosity
- 12.1%
- Canyon-3 aggregate net pay
- 170 metres
- Canyon-4 location
- About 8 kilometres south and 100 metres structurally updip from Canyon-3
Sources
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