Galilee Energy Readies Zydeco-1 Gas-Condensate Well for First-Week July Spud

Galilee Energy (ASX: GLL) has reached the final major visible pre-spud milestone at its Zydeco-1 gas-condensate well in Acadia Parish, Louisiana, after raising the drilling derrick over the well centre.

RFC Drilling Rig 103 has arrived on site and now stands in position for final rig-up, safety checks, and pre-spud readiness activities.

The company remains on schedule to spud, or start drilling, Zydeco-1 in the first week of July.

Galilee holds a 100% working interest in the Zydeco oil and gas project and a 70% net revenue interest.

Final Rig-Up Underway

Galilee has completed key pre-spud works including conductor installation, cellar preparation, and removal of the temporary conductor-driving structure.

The operations team has also completed heavy-lift rig-up using crawler cranes, man-lifts, and supporting equipment to position the rig substructure and associated equipment on the prepared pad.

Survey crews have verified the planned well centre, conductor position, and rig alignment before drilling begins.

The company confirmed operations continue to progress safely, on schedule, and within budget, with no significant operational issues identified ahead of spud.

High-Impact Gulf Coast Test

Zydeco-1 will test the Upper Tweedel and Lower Tweedel objectives within a proven Gulf Coast gas-condensate fairway, targeting a conventional unrisked prospective gas accumulation of up to 13.7 billion cubic feet of gas and 610,000 barrels of condensate across multiple reservoirs.

The project area covers 325.3 acres of mineral leases in Louisiana and sits near the producing Indigo and Frey fields.

Galilee expects drilling to proceed to a planned total depth of approximately 9,800 feet after spud, and then plans to follow drilling with wireline logging, interpretation, and testing as appropriate.

A successful result would allow Galilee to pursue rapid commercialisation using existing regional infrastructure, with a pathway to first production within about six months of drilling success.

The project benefits from a short gas spur line to the Texas Gas Pipeline and would require simple development facilities including condensate stripping, storage and truck loading.

Growth Strategy Platform

Zydeco represents the first execution point in Galilee’s strategy to build a scalable US Gulf Coast oil and gas business, with managing director Joseph Graham describing is as a “potentially transformative well for Galilee.”

“The rig is on location, the derrick is standing over the well centre and the team is now completing the last checks before drilling begins,” he added.

Galilee’s US Advisory Board has helped advance Zydeco from acquisition to drilling and continues to support asset evaluation, drilling execution, commercial structuring, and regional expansion opportunities.

The company is targeting low-risk development and redevelopment opportunities, near-term production and cash flow generation, disciplined capital allocation and repeatable growth through reinvestment and acquisition.

Final participation structures and funding arrangements for additional opportunities are expected to be formalised after a successful Zydeco-1 result.