FinTechFunding

Galilee Energy: Secures rig for Glenaras gas drilling program

Galilee Energy Secures rig for Glenaras gas drilling program

  • Galilee Energy (GLL) secures a rig for the upcoming drilling program at the Glenaras multi-well pilot in Queensland
  • Following a successful $11.8 million capital raising, the company has now signed a drilling contract with Silver City for Rig 23
  • All landowner and environmental approvals have been received for the new well locations and civil construction works are progressing with lease pads now under construction
  • Drilling at the site is expected to commence in mid-April for five new vertical production wells
  • On the market, Galilee was down 6.45 per cent and trading at 29 cents
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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