Santos drilled 16 wells in the GLNG acreage during the first quarter, which included 15 development wells in Roma and one appraisal well in Fairview, while 39 wells were completed as producers.
As a result of this decision, all Chevron equity interests in the joint ventures will return to Beach Energy for nil consideration.
Productive wells are the product every company seeks; proper execution and coordination of all team members are the keys to unlocking value.
With hydrocarbons plentiful, the region is a sleeping giant for the oil and gas industry.
As supply and demand alter market conditions, activity in Australia pushes forward.
Santos has been awarded two exploration permits close to its existing acreage in the vicinity of the giant ongoing Ichthys LNG development in the Browse Basin offshore Western Australia.
The giant Inpex-operated Ichthys LNG Project has hit a couple of significant milestones, with the start of deepwater pipelay work on the 889-km gas export pipeline and the start of the development drilling program.
Browse FLNG development operator Woodside has pushed back its schedule for the large project to focus further on reducing costs, according to CEO Peter Coleman.
Plans for a newbuild semisubmersible production facility off North Western Australia look to be back on the development path.
A production test is to get underway on an oil discovery offshore Brazil that is expanding nicely in terms of its size and scope as operator Karoon Gas Australia continues to firm up more reserves.
Australia has the seventh-biggest potential shale gas resources and sixth-biggest shale oil resources, EIA said, according to Bloomberg. Chevron’s recent pullout from Nappamerri Trough signals the country’s overall shale challenges.
Offshore geosciences company Benthic received a contract to conduct a geotechnical investigation in the Sea Lion Field in the Bass Strait offshore southeastern Australia from Carnarvon Hibiscus Pty Ltd.
Orca said the sale to Senex is “prudent” while oil prices are low, and will allow Orca to focus on its Seabiscuit project in Matagorda County, Texas.
The acquisition was made in cooperation with BGP Explorer.
Stanleys-1, on the Western Flank, reached total depth on March 5 and had strong oil shows.
Subsea 7 has won a contract from Woodside Petroleum for the Persephone development.
Origin Energy’s Speculant-1 exploration well has discovered potentially commercial quantities of gas in Waarre Formation reservoirs in Australia’s Otway Basin, offshore Victoria within the Origin-operated VIC/L1(v) permit.
Senex Energy Ltd. has started production from the recently discovered Martlet oil field in the Western flank of the Cooper Basin.
Participants in the North West Shelf (NWS) gas development project have approved the Persephone Project off the northwest coast of Australia, operator Woodside Energy Ltd. said in a news release.
Senex has completed a flow test of the Hornet-1 gas well during which gas flowed to surface at a rate of more than 2 MMcf/d.
The government of Timor Lesté wants gas from the Greater Sunrise fields in the Timor Gap processed onshore and is willing to buy out operator Woodside Petroleum and any other partner who wants to sell.
The EPA of Western Australia has approved plans for expansion of the Greater Gorgon subsea gas-to-LNG project on Barrow Island into a fourth train.
The Inpex group has begun development drilling at the Ichthys gas/condensate field in the Browse Basin, 200 km offshore northwest Western Australia.
The Western Australian Parliament has approved legislation to increase its share of Browse Basin gas fields following reclassification of the state’s offshore boundaries.
Australian minnows Neon Energy and MEO Australia have decided to merge into a 50:50 new entity.
The transaction is expected to close mid-year 2015 and is subject to necessary government and regulatory approvals and customary post-closing adjustments.
Woodside Petroleum and Apache Corp. closed the Australian Wheatstone LNG and Balnaves oil component transaction on April 2 for a total cost of US$2.817 billion, including a closing adjustment of US$567 million, according to a news release.
In a short statement to the market this morning, Woodside advised it took the precautionary measure after a drilling rig, which had been contracted to another party, became loose and drifted near gas flowlines at Pluto LNG.
Wood Group Kenny has secured a contract with Woodside to provide the FEED of the flowline system and associated procurement support for the proposed Greater Western Flank Phase 2 development.
Ennsub was responsible for the design and supply of all equipment, including downline recovery winches, remote disconnect heads and isolation plugs.