About State Gas
STATE GAS LIMITED (ASX: GAS) is a developer of a conventional gas field located in the Bowen Basin in Central Queensland.
It is Operator and 80%-owner of the Cattle Creek and Reid’s Dome Conventional Gas Project (PL 231) located 30 kilometres south west of Rolleston, approximately 50 kilometres from the Queensland Gas Pipeline.
Gas was discovered in 1955 at the Reid’s Dome project and infrastructure and markets for the gas did not exist until recent years.
When the project was last drilled, in 2006, the gas price was in the vicinity of $2/gj. In October 2017, UBS issued a report stating:
“We see gas prices in the $8-10/GJ (ex-field) range for the foreseeable future.”
(UBS, 19 October 2017, “The next wave of east coast gas supply)