• 4 minutes US-backed coup in Venezuela not so smooth
  • 7 minutes Why Trump will win the wall fight
  • 11 minutes Oil imports by countries
  • 13 minutes Maduro Asks OPEC For Help Against U.S. Sanctions
  • 51 mins Climate Change: A Summer of Storms and Smog Is Coming
  • 14 hours Venezuela: Nicolas Maduro closes border with Brazil
  • 4 hours Teens For Climate: Swedish Student Leader Wins EU Pledge To Spend Billions On Climate
  • 4 hours Iran Starts Gulf War Games, To Test Submarine-Launched Missiles
  • 2 hours The Quick Read On MBS's Tour of Pakistan, India And China
  • 13 hours Tension On The Edge: Pakistan Urges U.N. To Intervene Over Kashmir Tension With India
  • 3 hours BMW to add 2,000 more jobs at Dingolfing plant
  • 12 hours Itt looks like natural gas may be at its lowest price ever.
  • 15 hours Amazon’s Exit Could Scare Off Tech Companies From New York
  • 1 day students walk out of school in protest of climate change
  • 11 hours Saudi A to Splash $100 Bln on India
  • 6 hours NEW FERUKA REFINERY
Alt Text

U.S. LNG Exports Rising As Gas Prices Drop

After a brief interruption caused…

Alt Text

5 Things To Watch In Natural Gas

Global LNG markets are geared…

Jen Alic

Jen Alic

 

More Info

Trending Discussions

Chevron Hits Australian Shale Gas Market in $349m Farm-In

Chevron (NYSE: CVX) has descended on the Australian shale gas market with a $349 million farm-in for two shale prospects covering some 810,000 acres in central Australia’s Cooper Basin.

Chevron will initially acquire a 30% working interest in block PEL 218 in South Australia, and an 18% working interest in block ATP 855 in Queensland. The blocks are controlled by Australia’s Beach Energy.

The deal gives Chevron the option of later increasing its interest in PEL 218 to 60% and its interest in ATP 855 to 36%.

The Cooper Basin is expected to have as much as 85 trillion cubic feet of gas, but we’re still up to 18 months away from commercial viability determinations at Cooper Basin.

Related article: Surging Australian Gas Prices Turn Asian Consumers Towards Russia

Earlier this month, PetroChina and ConocoPhillips also announced a shale gas exploration deal in Western Australia.

Australia's current annual domestic gas usage stands at 1 trillion cubic feet of gas.

We are now seeing a new trend in Australia that has foreign investors moving away from the focus on the country’s large conventional gas reserves and increasingly towards the unconventional plays. 

In 2012, Australia started talking about its shale gas resources, billing them as lower in liquids due to geological advantages. However, extraction and export will require significant investment in infrastructure. Cooper Basin, however, is one area where infrastructure is already largely in place because it has also been a focus of conventional production since the 1960s.

By. Jen Alic of Oilprice.com




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News