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PESA WA May Branch Luncheon

21/05/2019 Posted by Alison McLeod

“If you’ve got an unconventionals focused geologist in your company, go talk to them, you might be surprised at the learnings applicable to conventional hydrocarbon accumulations”. That was the takeaway from Avon McIntyre’s WA Branch May luncheon talk - “Bursting Source Rock and Strange Hydrocarbon Occurrences Around the World”. The presentation challenged attendees' thoughts on maturation, migration and charge-timing (all may be later than we think) through analysis of...

Shell gets NOPSEMA approval for Bratwurst-1 well

20/05/2019 Posted by Dale

Shell has won approval from NOPSEMA to drill the Bratwurst-1 exploration well in AC/P64 offshore Western Australia. The original plan was submitted by Shell in January this year for a well which is located within the Northern Browse Basin in Commonwealth Waters in water depths of approximately 155 meters. The plan was officially approved by NOPSEMA on May 15. Shell will target gas/condensate and has plans to deploy a semi-submersible rig for the operation. If successful and the...

CGG Begins First Multi-Client Ocean Bottom Node Survey in Mississippi Canyon, Gulf of Mexico

20/05/2019 Posted by Dale

CGG has announced commencement of its first multi-client ocean bottom node (OBN) survey, taking CGG’s offshore data library to the “next level of excellence”. Located in the north-central region of the Gulf of Mexico, this dense OBN survey will provide well-sampled, full azimuthal coverage with long offsets, to deliver exceptional data for imaging the geologically complex structures in Mississippi Canyon, CGG said. Acquisition services are being provided by Seabed Geosolutions...

Future plans in WA to lower costs without compromising service

20/05/2019 Posted by Dale

Lower revenue, lower costs and maintaining strong safety, reliability and service performance are thenfocus of proposed future plans announced recently for Western Australia's Dampier to Bunbury Natural Gas Pipeline (DBNGP) and its customers out to the year 2025. The pipeline - part of the Australian Gas Infrastructure Group (AGIG) - is the backbone of the WA economy, linking the gas fields in the State's north-west directly to mining, industrial, and commercial customers. AGIG's Chief...

APPEA welcomes Australian wholesale gas prices that are below Asian average

20/05/2019 Posted by Dale

Australia’s average gas prices are amongst the lowest in Asia, according to the latest international survey of wholesale gas prices. The 2019 International Gas Union’s Wholesale Gas Price Survey shows the average wholesale gas price in Australia last year ($US4.54/MMBTU) was about 40 per cent less than the average wholesale price for the Asia‑Pacific region. The Australian price was also around one-third less than the average wholesale price in Asia. Australia’s leading trade...

Oil price spike boosts Bass Oil’s bottom line, despite shutdowns

13/05/2019 Posted by Dale

Australian-based, Indonesian oil producer, Bass Oil has released a monthly operations update for April 2019 production from the Tangai-Sukananti field onshore Indonesia of 20,273 barrels of oil (11,150 barrels of oil net to Bass). Bass said monthly oil production and sales were down slightly during March with April production rates averaging 676 bopd. However, oil prices were up 8% during April. The average monthly realised oil price was US$67.39 compared with a monthly average oil...

Anadarko signals imminent FID for giant Mozambique LNG gas project

13/05/2019 Posted by Dale

Anadarko Petroleum is weeks away from an anticipated final investment decision for its Mozambique LNG project next month. Chevron exited takeover talks with Anadarko last week, but the company is still being wooed by Oxy and said that FID for the Mozambique offshore gas project would be made on June 18. Anadarko CEO Al Walker said: “With commitments for financing in place, off-take secured, and all other issues under negotiation successfully addressed, we are excited to take the next...

Otto acquires available interest in Gulf of Mexico lease

13/05/2019 Posted by Dale

West Perth-based Otto Energy has acquired the remaining 50% working interest in the VR 232 license located in the US Gulf of Mexico from Byron Energy. Otto announced that the lease is subject to a 12.5% Federal Government royalty and the lease rental is US$31,681 per annum. The lease expires in June 2023. VR 232 is adjacent to South Marsh Island Block 71 (SM 71) oil field and production platform, which is operated by Byron with partner Otto holding a 50% interest. The platform has...

APPEA applauds NT Budget for ‘vital role of gas investment’

13/05/2019 Posted by Dale

The Association of Petroleum Production and Exploration Association (APPEA) has responded to the recently released Northern Territory Budget, saying the blueprint ‘highlighted the key role the oil and gas industry will play in the long-term growth of the Territory’s economy’. ‘Treasurer Nicole Manison recommitted to the Government’s Gas Strategy which outlines a five-point plan to develop the NT’s substantial offshore and onshore gas resources to create new jobs and...

TGS acquires Spectrum in major merger deal

06/05/2019 Posted by Dale

TGS will acquire Spectrum in a deal which has been announced as a merger set to create a “leading provider of 2D and 3D seismic data”. This follows an agreement of shareholders of both companies, triggering a transaction which is expected to be completed as a statutory merger pursuant to Norwegian corporate law between TGS and Spectrum. Under the terms of the agreement, Spectrum shareholders will received 0.28 shares for one Spectrum share in addition to a cash consideration of...

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