The company announced on Thursday that an independent assessment on its Bloodwood Creek site had increased the proven and probable UCG gas reserves from 743 petajoules (about 700 billion cubic feet) to 1362 PJ (1.28 trillion cubic feet).
According to Carbon, this upgrade ranks the company as one of the biggest gas producers in the Australian state of Queensland.
“Carbon Energy is poised to potentially play a key role in meeting the emerging shortfall in gas supply for Eastern Australia,” Carbon chief executive Morne Engelbrecht said in a statement.
The
