The Western Australia-based company reported that its revenue fell 44.6 percent year-on-year due to lower oil prices.
With a proven history of production, plenty of invested players and a bright unconventional resources outlook, the venerable basin is still alive and kicking.
A ban on fracking by the Western Australia Labor Party would hold until it was shown that fracking doesn't compromise the environment, groundwater, public health or contribute adversely to climate change.
The company said it is well positioned in northern Australia to develop brownfields.
Armour Energy and American Energy Partners will explore and develop Armour’s extensive oil and gas prone McArthur Basin Project.
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.
Having received shareholder approval for American Energy’s US$130 million Northern Territory farm‐out, American Energy’s proportional bid for 13.62% of each Armour share priced at 25 cents will now proceed.
Santos, scrambling to pay down A$8.8 billion ($6.3 billion) in net debt, had been looking to sell its two-thirds stake in Stag before it effectively put all its assets up for sale in August.
The first zone tested, the High Cliff Sandstone, flowed gas at a rate of 24.7 million standard cubic feet per day (mmscf/d), while AWE said Oct. 27 that the second zone, the shallower Kingia Formation, had flowed gas at an average rate and pressure of 25.7 mmscf/d.
The first zone being flow tested is the deeper High Cliff Sandstone, where a 23.5m interval has been perforated.
Oil Search rejected proposed all-share offer from Australia's biggest oil and gas producer in September, saying offer undervalued LNG stake and gas exploration assets in Papua New Guinea, Reuters said.
The central processing facility, understood to be the world’s largest semisubmersible, was officially launched from the offshore floating dock at the Samsung Heavy Industries shipyard in Geoje, South Korea, where it has been under construction since 2013.
INPEX will raise the annual LNG production capacity by about 6% to 8.9 million tons per annum (MTPA) from the initially planned 8.4 MTPA.
Warro Field is 200 kilometers north of Perth and 30 kilometers from the Dampier Bunbury Natural Gas and Parmelia pipelines. Wells could cost $30 million to $40 million.
Gorgon was initially slated to produce gas in early 2015 at a cost of US$37 billion when the final investment decision was made.
The BassGas project consists of the Yolla offshore well head platform connected by pipeline to the gas processing facility at Lang Lang, Victoria, AWE Ltd. said in a news release.
OneSubsea has bagged a FEED contract for Woodside Petroleum’s Greater Enfield Area development offshore northwest Australia.
Chevron’s Gorgon project has hit industrial action turbulence with hundreds of workers on the giant LNG project on Barrow Island voting to take industrial action over demands for more favourable work rosters.
AWE could book a $110 million non-cash impairment on the BassGas (SEN, 31/19) asset in Victoria in the wake of a reduction in the project’s reserves.
Cooper Energy is confident a $560mn subsea option for the development of the Manta gas field in Victoria’s offshore Gippsland Basin could deliver gas within two years of a financial investment decision.
The Western Australian government has signed a Key Principles Agreement with the proponents of the Browse FLNG project for the provision of domestic gas and to locate a supply chain in Western Australia.
The primary scope of work includes in-service verification of the Ichthys facilities; the central processing facility (CPF), floating, production, storage and offloading (FPSO), subsea production system, gas export pipeline, onshore combined cycle power plant and onshore LNG plant, a news release said.
Majority of 200 jobs to be cut will be in the Adelaide headquarters. Recently, 565 jobs were cut. Santos is streamlining eastern Australia business, including Cooper Basin operations, Reuters said.
The FEED contract is for the Greater Enfield Area development offshore northwest Australia, OneSubsea said in a news release.
Walter Simpson has been working in an acting CEO capacity since July. Simpson joined Drillsearch as COO in March 2015 from BG Group subsidiary QGC.
Woodside last week sought exclusive talks with the Papua New Guinea-focused oil and gas producer on a one-for-four share offer.