Latest News

Technology can strengthen Australia’s gas advantage

Technology can strengthen the role Australian gas plays in the diverse energy mix beyond 2030 as outlined in a new vision launched today by the gas industry. Gas Vision 2050 was developed by Australia’s peak gas industry bodies and demonstrates how gas can continue to provide Australians with reliable and affordable energy in a low carbon energy future. The vision was presented to the Minister for the Environment and Energy, [...]

Rey takes 100% of Derby Block as OBL focuses on Judith

JUNIOR explorer Rey Resources Limited has moved to take 100% operatorship of a large onshore block in Western Australia’s after reaching an agreement with acquire Oil Basin Ltd’s 50% stake in the permit. Rey’s wholly owned subsidiary Rey Derby Block Pty Ltd has agreed to acquire the 50% interest in petroleum exploration permit EP-487 from its joint venture partner Oil Basins Ltd (OBL) in the approximately 5,000 sq. km block. [...]

SA Government to build $360m gas plant

THE South Australian Government will build a $360 million gas plant to help alleviate the spate of power issues that have affected the State in recent years. The 250 MW gas plant is part of a comprehensive $550 million plan that includes plans to attract local gas production for use in the State and the addition of battery storage facilities. After being hit with a State-wide blackout last year and [...]

Baker Hughes releases adaptive drill bit

BAKER Hughes has announced the commercial release of its TerrAdapt adaptive drill bit, which it says can deliver dramatic improvements in drilling economics by using automation to mitigate downhole dysfunctions that cause inefficient drilling and costly tool failures. The company said that the release contains the industry’s first self-adjusting depth-of-cut (DOC) control elements, with the TerrAdapt bit automatically changing its aggressiveness based on the formation through which it is drilling [...]

Reports says Governments hold responsibility for high cost gas

A NEW report has warned State and Territory governments that gas prices in eastern Australia are likely to double by 2030 unless urgent action is taken to develop new supply. This warning is contained in the study “Meeting east Australia’s gas supply challenge” by McKinsey & Company. Australian Petroleum Production and Exploration Association (APPEA) chief executive Dr Malcolm Roberts said the report was an urgent call to action for policymakers, [...]

Senex ready to spud $15 million Silver Star-1 well

SENEX Energy Limited has announced it is preparing to spud the high profile Silver Star-1 gas exploration well in the South Australian Cooper Basin. With a budget of approximately $15 million, Silver Star-1 forms part of the work program being progressed by Senex in joint venture with Origin Energy. Senex managing director and CEO Ian Davies said the drilling programme reflected its continued commitment to onshore gas exploration and to [...]

Report raises major concerns over east coast gas supply levels

A leading Australian oil and gas industry analyst has raised major concerns about the amount of gas that is available to support the multi-billion dollar Queensland CSG-LNG projects. Described as a “highly forensic review of Australia’s east coast gas sector”, a new report from EnergyQuest has found that estimates of commercial gas reserves to service Queensland’s new Gladstone-based LNG industry and local domestic gas consumption, carry substantial risks that are not widely appreciated. The review’s [...]

MMA selling Dampier and Broome Supply Bases

MMA Offshore Limited has entered into agreements with Toll Group for the sale of its Dampier and Broome Supply Base assets. The sale of both assets is part of MMA’s ongoing capital management strategy to rationalise non-core assets and reduce debt over the course of the 2017 financial year. MMA will realise approximately $44.1 million from the sale of the Dampier Supply Base asset and $8.7 million from its 50% [...]

AOG 2017 PROVIDES POSITIVES FOR AUSTRALIAN OIL AD GAS SECTOR

Strong attendances and a very positive response to the inaugural industry “Forum” series of presentations and roundtables were some of the highlights of a highly successful 2017 Australasian Oil & Gas Exhibition & Conference (AOG) this week. Staged for the 36th time, AOG ran from February 22 – 24 at the Perth Convention and Exhibition Centre (PCEC). In a reflection that the global petroleum sector is starting to see “green [...]

Woodside and GE investigate ways to power WA with LNG

WOODSIDE has signed an agreement with multinational conglomerate GE to work on expanding the use of LNG as a fuel in Western Australia. The announcement of the agreement follows recent pronouncement by Woodside on the potential of expanding its Pluto LNG operations in WA to provide a wide range of LNG fuelled opportunities. Woodside said the aim of the agreement with GE is to provide customers with the option of [...]