Even though oil prices remain in the low US $30 range, Australasian countries continue the push for natural gas resources.
Some industry observers have likened the basin to the Haynesville Shale in Louisiana, where production peaked at 100 billion cubic feet per day.
Former fund manager David Shearwood has big plans to turn Leigh Creek Energy into an underground coal gasification producer by 2018, and in the process, offer hope of future employment to the hundreds of workers affected by the Leigh Creek coalmine shutdown.
The Northern Territory government has shot down Palatine Energy’s plans to extract tight oil in the Watarrka national park, a move company managing director David Falvey has described as profoundly disappointing.
The Western Australia-based company reported that its revenue fell 44.6 percent year-on-year due to lower oil prices.
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.
The acquisition price includes a future payment, or contingent value right, that would be tied to the final estimates of the size of the Elk and Antelope fields following appraisals this year.
The companies are looking to market 13 fields, licenses and associated infrastructure held in the Gippsland Basin joint venture. The venture in Australia's Victoria state began operations in 1969, according to BHP's website.
David Maxwell, managing director, said Cooper Energy delivered a 260% increase in proved and probable oil reserves in KSO. Production increased to about 800 barrels per day of oil, he added.
J. Thomas Wilson, Magellan’s president and CEO, said Mereenie’s current estimated production is less than 1 Mboe/d, and noted that the Mereenie bonus was not recorded in condensed consolidated financial statements.
The bid adds to a spate of energy deals in Australia over the past year with acquirers seeking to swoop on beaten down assets, from Beach Energy's takeover of Drillsearch Energy to Woodside Petroleum's bid for Oil Search.
The circle of condensate suppliers is small, though; and Australia has the inside track on selling to Asia, especially with some Middle East producers building their own splitters, Reuters said.
GE Oil & Gas (NYSE:GE) has started production of four HP/HT dynamic flexible risers destined for the world’s largest floating liquefied natural gas (FLNG) facility, Prelude, to be operated by Shell offshore Western Australia, GE said in a news release.
The INPEX-operated Ichthys LNG Project announced a key milestone this week when it completed the installation of 140 km of rigid subsea flowlines offshore Western Australia.
The project includes the Stickle, Crosby, Tanglehead, Moondyne, Wild Bull and Ravensworth fields. It also includes the tie back of the Stickle 9 well to the existing Tanglehead manifold, Fugro said in the release.
The gas rate in the proof of concept short horizontal well continues to build, and there is about 360 m of coal. Since mid-December, the gas rate has increased over time, and is now beyond 361Mcf/d.
Woodside has decided to put its Browse FLNG project off Australia on ice after completing FEED work on the scheme.
A new report has found that the collapse in global oil prices during the past 12 months is now officially decimating oil and gas exploration activity in Australia—the lifeblood of feedstock for existing and future oil and gas projects.
The INPEX-operated Ichthys LNG Project reached a key milestone this week when it completed the installation of 140 km of rigid subsea flowlines.
Wood Group said it has secured a contract with Woodside to provide the detailed design of the Greater Western Flank Phase 2 (GWF-2) flowline system. The GWF-2 Project is located on the North West Shelf offshore Western Australia.
The Chevron-led Gorgon project is in the final stages of commissioning systems to allow startup of Train 1, Chevron Australia said.
Under the contract, Aqualis Offshore will manage the position keeping procedure and provide position keeping masters during the offshore operations, according to a news release. The contract value is undisclosed.
Cathal Smith became interim company secretary, effective immediately; he has been legal counsel and commercial manager for the last three years while he has been retained by the company.
Technip has been awarded an engineering services contract by Woodside to provide multi-disciplinary engineering services as part of an engineering panel. This contract covers all Woodside operated onshore, offshore and subsea producing assets.
Chevron promoted its deputy managing director in Australia Nigel Hearne to take over from long-time managing director Roy Krzywosinski, who will be moving to Houston as head of engineering in Chevron's Energy Technology Co.
In developing the competency standards with offshore pipeline engineers, APGA worked with the Society for Underwater Technology’s Perth, Australia, branch, which is producing a set of competency standards for all subsea engineering.