Strike Energy, Jaws-1, Australia oil and gas, Halliburton, oil exploration drilling

Strike Energy is in the hunt for a gas prize estimated at up to 11 trillion cubic feet.

APPEA Extols East Australia Virtues But Lashes The West

Association’s chief urges states to back off fracking inquiries to facilitate greater supply in the east.

Statoil, Great Australia Bight, Australia oil and gas, exploration permit

The Norwegian oil and gas company has swapped interests in exploration permits with BP in the Great Australian Bight area.

natural gas, LNG, South Australia, Senex, Beach, Strike, Santos, energy

Beach Energy, Santos, Strike and Senex have been named recipients of AU$24 million in grants from the South Australian government.

In an astonishing paradox, Australia is hurtling towards chronic domestic gas shortages and power outages just as it becomes the world’s biggest LNG exporter.

Land & Leasing

An exit from the shale business is one of the main demands for BHP by activist shareholders led by New York-based Elliott Management.

The Anglo-Dutch company said in another statement that "following strong demand from institutional investors," it upsized its sale to 111.8 million shares worth a total of $2.7 billion before tax proceeds.

The deal will triple Beach’s oil and gas reserves, transforming a company valued at A$1.5 billion (US$1.2 billion) that has long been focused on one basin in central Australia to give it a foothold across Australia and New Zealand, onshore and offshore.

BHP CEO Andrew Mackenzie said the preference would be a small number of trade sales, but refused to give a timetable for quitting the U.S. shale business.

Origin Energy said it increased its share in the undeveloped shale gas prospect to 70%, after purchasing a 35% share from Sasol Petroleum Australia Ltd. It did not disclose a purchase price.

Reservoir Evaluation

Norwest Energy NL, the permit operator of TP/15, confirmed hydrocarbons at Xanadu-1 stemming from a successful drilling program.

AWE Ltd. has confirmed the extension of the Waitsia Field in Australia with the Waitsia-3 well encountering natural gas shows in the Kingia and High Cliff sandstone reservoirs, the company said in a July 4 news release.

The company plans to perform a three- to six-month extended production test starting in third-quarter 2017, following the completion in April of a light oil resource volume assessment, to help determine the commerciality of the discovery.

The company's 2P reserves for its ATP814P coal seam gas asset ​have jumped by 29 percent to about 2 Bcm (71 Bcf). Meanwhile 3P reserves have jumped by 49 percent to about 8 Bcm (284 Bcf).

The projects 2P reserves have increased by 36 percent to 30 petajoules (28 Bcf) while 3P reserves now stand at 219 PJ, (208 Bcf) representing a 77 percent increase.

Wildcats & Stepouts

The company said its Marauder-1 well, located in PEL 104, encountered good oil shows within Birkhead sands with evaluation of logs indicating net pay of up to 8.6 m within a 17.5 m gross oil column.

Transerv executive director Stephen Keenihan described the results as outstanding because they extended the known parameters of the gas at Warro, both at depth and laterally.

Wireline logs indicate a gross oil-bearing interval of about 23 meters at the top of the Ungani Dolomite section in the well, Buru Energy said.

Stanleys-1, on the Western Flank, reached total depth on March 5 and had strong oil shows. 

The PEL 513 joint venture made its second wet gas discovery in Cooper Basin, Australia.