PESA Australian exploration review 2019
Ian CockerillRISC Advisory, Level 2, 1138 Hay Street, Perth, WA 6005, Australia. Email: ian.cockerill@riscadvisory.com
The APPEA Journal 60(2) 348-359 https://doi.org/10.1071/AJ20007
Accepted: 23 March 2020 Published: 15 May 2020
Abstract
Australia has continued its recent run of exploration success by yielding a series of impressive discoveries in 2019, despite a contraction in exploration activity. In 2019, Australian explorers were rewarded with six conventional onshore discoveries and three offshore discoveries, while only drilling 20 exploration wells. The exploration drilling highlights were the discoveries in the Vulcan Sub-basin (Bratwurst and Orchid) and the North Perth Basin (Beharra Springs Deep and West Erregulla). 2019 also saw successful appraisal drilling on the Dorado and Corvus discoveries as well as renewed exploration efforts in the Beetaloo Sub-basin unconventional plays. The exploration farm-in deals of note were Santos farming into Armour’s South Nicholson Basin acreage and Conoco farming into 3D Oil’s Otway Basin acreage. Australia is set for an exciting year of exploration with further drilling planned in the North Perth Basin and other high impact exploration wells on the North West Shelf. In a positive sign for future exploration, 13 new offshore permits were awarded with committed work programs or cash bids totalling AU$223 million. This is the first uptick in offshore permit awards since 2010.
Keywords: acreage, appraisal, Beach, Beharra Springs, Bratwurst, Corvus, Dorado, drilling, North Perth, North West Shelf, Orchid, Polarcus, Santos, seismic, strike, West Erregulla.
Ian has 20 years of experience as a geoscientist with a successful record of value creation through oil and gas discoveries, new venture development and asset/corporate promotion. He has a background in geological and geophysical interpretation with experience in conventional and unconventional exploration and development projects in the UK, South Africa, Canada, United States, Singapore and Australia. Ian has worked in technical positions for Hunt Oil and Apache Energy as well as in executive positions for Transerv Energy, Verona Energy and TSV Montney. Ian is currently Head of Geoscience at RISC Advisory. |
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