Acreage Releases

SA announces successful applicants for acreage in Cooper and Otway Basins

06/07/2020 Posted by Dale

The State Government of South Australia has announced the successful bids for five new Petroleum Exploration Licences (PELs) with a guaranteed work program valued at $58.85 million over the next five years.

The Department for Energy and Mining said the successful applicants for new PELs in the Cooper Basin are Leigh Creek Energy, Cordillo Energy, Gidgee Energy and Vintage Energy.

Minister for Energy and Mining, Dan van Holst Pellekaan said there were great opportunities to ramp up exploration activities as South Australia’s restrictions due to COVID-19 begin to ease.

“South Australia aims to rebound quickly from the pandemic-led slowdown and petroleum exploration will be a significant contributor to a sharp recovery,” said Minister van Holst Pellekaan.

Chevron, Total win blocks offshore Brazil

15/10/2019 Posted by Dale

Chevron and Total have been awarded blocks offshore Brazil in the country’s 16th bidding round.

The US supermajor and its partners, Wintershall Dea and Repsol, picked up acreage in the Santos and Campos basins comprising blocks S-M-766 and C-M-845, which contain pre-salt targets and a work program intended to conduct 3D seismic acquisition and prospect maturation.

French Total and co-venturers Qatar Petroleum and Petronas won the C-M-541 deep offshore block in the Campos Basin, which sits in water depths of 3000m. Total is the operator and 40% interest holder with Qatar weighing in with a 40% stake and Petronas 20%.

Gulf of Mexico Lease Sale Yields More Than $159 Million in High Bids

26/08/2019 Posted by Dale

United States Interior’s Deputy Assistant Secretary for Land and Minerals Management Andrea Travnicek has announced that region-wide Gulf of Mexico Lease Sale 253 generated $159,386,761 in high bids for 151 tracts covering 835,006 acres in federal waters of the Gulf of Mexico. A total of 27 companies participated in the lease sale, submitting $174,922,200 in all bids. “We are excited about the results from today’s lease sale, which show a continued upward trend for the year. The total from today’s lease sale and the March sale is the highest since 2015 for high bids,” said Deputy Assistant Secretary Travnicek.

Australia launches largest offshore acreage release since 2000

05/08/2019 Posted by Dale

Australia has released 64 areas for offshore oil and gas exploration in the 2019 Offshore Petroleum Acreage Release, representing the largest rollout of acreage in 19 years. Bidding will be open until 5 March 2020 with over 120,000km² released for a single round of work program bidding. Australia Minister for Resources Matt Canavan said the latest release was the first under a new streamlined system designed to deliver an annual investment cycle that “simplifies bidding, offers greater transparency and responds faster to the market demand”.

APPEA Connect Series: 2019 Offshore Petroleum Acreage Release

26/07/2019 Posted by Alison McLeod

APPEA, in collaboration with the Department of Industry, Innovation and Science will host an APPEA Connect Series Event to mark the launch of the 2019 Offshore Petroleum Exploration Acreage Release. In an APPEA first, the session will be live-streamed around the world for participants who cannot attend in person. This is the first release of areas under the new streamlined acreage release model. The Department will officially announce the 2019 areas, and provide a snapshot of the new approach – as well as the analysis undertaken to support it.

Seven Australian exploration permit awards target $530 million

06/11/2018 Posted by Dale

The Australian Government has awarded seven offshore exploration permits which it believes could yield an investment of more than $530 million over the next six years. Minister for Resources and Northern Australia Matt Canavan said the granting of seven permits finalised the Government’s 2017 Offshore Petroleum Exploration Acreage Release. According to the minister, strong bidding for round one of the 2018 Offshore Petroleum Exploration Acreage Release had been “encouraging” and new permits could see more than $530 million invested over the next six years.