Archives for October 2024

October 2024

Viridien and SLB complete the data acquisition for a multi-client survey in Bonaparte Basin, offshore Australia

25/10/2024 Posted by Dale

Viridien and SLB have recently completed the acquisition of a new multi-client survey in the Bonaparte Basin, off the NW coast of Australia, that has received industry support and prefunding. The resulting 6,760 sq km ultramodern PSDM seismic data set will provide a thorough evaluation of this highly prospective and underexplored area to improve industry understanding. The data is currently being processed and the final data will be available in Q2 2025.

The complex geological area has been historically challenging to image due to the presence of carbonates and the shallow water.

Kinetiko Slumps on ‘Unexpected’ Drill Result in South Africa

24/10/2024 Posted by Dale

'Kinetiko Energy Ltd (ASX: KKO) has seen its share price plunge 28% after the first of a five-well drilling program failed to find commercial gas quantities.

The Perth-based explorer is developing an energy solution for South Africa focused on commercialising its 100% owned advanced shallow conventional gas projects in the Mpumalanga Province. At press time KKO as priced at 6.8c.

Drilling at well 271-23PT commenced on Friday, 27 September and was completed ahead of schedule on 16 October 2025.

Oil and Gas Operation Unearths Massive Lithium Discovery in the USA

24/10/2024 Posted by Dale

Using a combination of water testing and machine learning, a U.S. Geological Survey-led study estimated between 5 and 19 million tons of lithium reserves are located beneath southwestern Arkansas, in the USA. If commercially recoverable, the amount of lithium present would meet projected 2030 world demand for lithium in car batteries nine times over.

The study’s novel methodology, carried out collaboratively by the USGS and the Arkansas Department of Energy and Environment’s Office of the State Geologist, made it possible to quantify the amount of lithium present in brines located in a geological unit known as the Smackover Formation.

‘Hydrogen Aviation Has to be done Properly, or Not at All’

24/10/2024 Posted by Dale

By Dr James Jeffs,Principal Technology Analyst at IDTechEx

IDTechEx’s report, “Sustainable Future Aviation 2025-2045: Trends, Technologies, Forecasts”, finds that hydrogen is likely to be a main contender for decarbonizing the aviation industry. The report finds that the hydrogen commercial airliner market will exceed US$20 billion in 2045. However, the technology used on the planes and the source of the hydrogen needs to be considered carefully before the industry can celebrate significant carbon reductions. If done incorrectly, hydrogen planes could be worse for the environment than existing jet fuel-powered planes.

There are three key issues and choices that...

Santos Announces Financing of Darwin LNG Life Extension Works

23/10/2024 Posted by Dale

Santos has announced the Darwin LNG joint venture -operated by Santos and in which Santos holds a 43.43 per cent interest -has achieved financial close of new syndicated bank loan facilities totalling US$800 million.

The facilities comprise a US$350 million 7-year, partially amortising loan maturing in 2031 and a US$450 million, 12-year partially amortising loan maturing in 2036. The facilities are senior-secured by Darwin LNG Pty Ltd. The shareholders in Darwin LNG Pty Ltd, including Santos, have granted security over their shares in that company.

The facilities received strong support from existing and new syndicated banking relationships and the proceeds will be used to fund the DLNG life extension works.

Woodside to Delist from London Stock Exchange

22/10/2024 Posted by Dale

Woodside has reviewed its current listing structure and decided to delist from the London StockExchange (LSE).

Woodside shares represented by depositary interests account for approximately 1%of Woodside’s issued share capital.

Trading volumes of Woodside shares on the LSE were low and delisting from the LSE will reduce Woodside’s administration costs, the company said.

Woodside has applied to the UK Financial Conduct Authority (FCA) and the LSE to cancel theadmission of Woodside shares to listing in the International Commercial Companies SecondaryListing category of the Official List of the FCA and trading under the ticker “WDS” on the Main Marketfor listed securities of the LSE.

Shearwater Secures Towed Streamer Projects in Asia Pacific

22/10/2024 Posted by Dale

Shearwate has announced the award of two consecutive towed streamer survey projects in the Asia Pacific Region with a combined duration of three months.

The Shearwater multi-sensor vessel Geo Coral is allocated to the projects which commences early in Q4 2024.

Shearwater is a global marine geoscience and technology business that specialises in collecting data offshore. The organisation uses state-of-the art seismic vessels and equipment to explore the seabed and processes the data using market-leading proprietary software.

These insights help clients understand the Earth and make informed decisions about accelerating responsible use of its resources.

PESA WA Technical Luncheon: Unlocking New Gas Potential in Queensland’s Taroom Trough

21/10/2024 Posted by Dale

By Xipo Zhang

On Thursday, 17th October 2024, PESA WA hosted a well-attended technical luncheon at the Parmelia Hilton in Perth. Over 50 industry professionals gathered to hear Neil Young, Managing Director of Elixir Energy, deliver an insightful presentation titled “A New Play is Being Proven in Queensland’s Taroom Trough”.

Neil Young’s presentation focused on the Grandis Project, Elixir Energy’s groundbreaking initiative in the Taroom Trough — a promising unconventional gas,play. Located in the Southern Bowen Basin, the Taroom Trough holds immense potential to supply gas to both East Coast and international markets.

Strike Energy hits a few Chords Drilling Eregulla Deep-1 in the Perth Basin

21/10/2024 Posted by Dale

Strike Energy Limited (Strike - ASX: STX) as operator of the EP469/L25 Joint Venture, whichincludes the West Erregulla gas field, has completed the flow testing program at the Erregulla Deep-1 (ED-1) discovery well in EP469 with "excellent results".ED-1, which is the deepest well ever drilled onshore Australia, flow tested the Kingia gas discovery individually and the High Cliff gas discovery via a comingled test.ED-1, had 24m of perforations across the Kingia from 4,805m TVDSS and 12m of perforationsacross the High Cliff from 4,850m TVDSS.

Wärtsilä “supports South Australia’s energy transition with new 150 MW / 300 MWh energy storage system for Amp Energy”

20/10/2024 Posted by Dale

Technology group Wärtsilä has been selected to deliver its second major energy storage project in South Australia. Located in Bungama, stage 1 of this multi-stage project will be supplied to Amp Energy, a global energy transition platform.

The standalone battery energy storage system (BESS) will have a 150 MW / 300 MWh capacity and will support energy security and reliability as renewable energy supply increases, pacing South Australia’s ongoing energy transition. The order was booked in September 2024.

The project will be built with Wärtsilä’s Quantum High Energy storage technology, recognised for its "advanced safety features and enhanced energy density".