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.
With a proven history of production, plenty of invested players and a bright unconventional resources outlook, the venerable basin is still alive and kicking.
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.
As part of the deal, Hony, one of China's most successful private equity funds, will buy a stake in a unit of ENN Group, looking to help drive ENN's expansion offshore.
Bidding on the blocks would be open until September and the results would be announced in December, the government said. The government received nine bids in 2015, Reuters reported.
Santos has completed the sale of its 35% non-operated interest in the Kipper gas field to Mitsui E&P Australia (Mitsui) for $520 million, according to a news release.
Gas project in New South Wales delivered "disappointing gas flow" and "the economic returns to support the investment of approximately AU$1 billion were not adequate," the company said, Reuters reported.
Fugro’s work will include seabed and shallow geological investigations including in areas of difficult terrain.
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.
The deviated well in the Turi Formation, which tests Miocene and Eocene objectives, was drilled successfully. Completing it fulfills all of Cue’s remaining permit PEP 51149 obligations.
Natural gas supplies from the $54 billion project will come to market just as a raft of other Australian projects come on line and the U.S. is due to export its first cargo from abundant shale gas supplies.
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.
As part of AWE Ltd.'s succession plan, the company has named David Biggs as its new CEO and managing director, starting in early May 2016, the company said in a news release. He is replacing Bruce Clement.
First LNG cargo is scheduled to ship next week, the company said March 7. The project is supplied from the Gorgon and Jansz-Io gas fields in the Greater Gorgon area
Australian Securities and Investments Commission continues proceedings against the company and its former chairman. It said a judge found substantial and serious misconduct and mismanagement, Reuters reported.
Pickard, who joins Woodside as an independent director, retired on Feb. 1 from Royal Dutch Shell, where she held numerous positions during her 15-year tenure with the company, a news release said.
CEO Peter Coleman said capital deployment must not be reckless at this time, Reuters reported. Coleman said the company had not lined up any customers for the LNG.