Register      Login
Australian Energy Producers Journal Australian Energy Producers Journal Society
Journal of Australian Energy Producers
RESEARCH ARTICLE (Non peer reviewed)

PESA Australian exploration review 2019

Ian Cockerill
+ Author Affiliations
- Author Affiliations

RISC 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.


References

Beach Energy (2019a). Beharra Springs Deep gas discovery. ASX Announcement, 28 October 2019. Available at https://yourir.info/resources/0c5a441cf54ff229/announcements/bpt.asx/2A1182487/BPT_Beharra_Springs_Deep_gas_discovery.pdf [Verified 7 April 2020].

Beach Energy (2019b). Beharra Springs Deep update. ASX Announcement, 16 December 2019. Available at https://yourir.info/resources/0c5a441cf54ff229/announcements/bpt.asx/2A1193167/BPT_Beharra_Springs_Deep_update.pdf [Verified 7 April 2020].

Carnarvon Petroleum (2019a). Dorado contingent resources. ASX Announcement, 15 July 2019. Available at https://www.carnarvon.com.au/wp-content/uploads/2019/07/Dorado-contingent-resources.pdf [Verified 7 April 2020].

Carnarvon Petroleum (2019b). Dorado-3 appraisal well. ASX Announcement, 18 July 2019. Available at https://www.carnarvon.com.au/wp-content/uploads/2019/07/Dorado-3-Appraisal-Well.pdf [Verified 7 April 2020].

Cue Energy Resources (2018). Good Oil Conference. ASX Announcement, 13 September 2018. Available at http://www.cuenrg.com.au/irm/PDF/03605918-926c-441c-87c7-f67ece862fae/GoodOilConferencePresentation [Verified 7 April 2020].

Nippon Oil Exploration (Vulcan) (1999). Circinus-1–ST1 Final Geological Report Vol 1, October 1999. NOPIMS Open File Report. Nippon Oil Exploration Ltd, Tokyo.

Norwest Energy (2019). NWE approves Lockyer Deep for drilling in H1 2020. ASX Announcement, 9 December 2019. Available at https://www.asx.com.au/asxpdf/20191209/pdf/44cdg9jhlfcpgq.pdf [Verified 7 April 2020].

PTTEP Australia (2014). ACP54 Sandalford Seismic Interpretation Report, June 2014. NOPIMS Open File Report. PTTEP Australia, Perth.

PTTEP Australia (2019). PTTEP makes new gas discovery in Orchid-1, offshore Australia. Press release, 8 March 2019. Available at https://www.pttep.com/en/Newsandnmedia/Mediacorner/Pressreleases/Pttepmakesnewgasdiscoveryinorchid1offshoreaustralia.aspx [Verified 7 April 2020].

Santos (2019a). Strong Caley oil flow advances Dorado. ASX Announcement, 8 October 2019. Available at https://www.santos.com/wp-content/uploads/2020/02/strong-caley-oil-flow-advances-dorado.pdf [Verified 7 April 2020].

Santos (2019b). Completed Baxter flow test in Dorado-3 exceeds expectations. ASX Announcement, 23 September 2019. Available at https://www.santos.com/wp-content/uploads/2020/02/santos-dorado-3-asx-release-final.pdf [verified 7 April 2020].

Santos (2019c). Successful Corvus-2 appraisal well discovers significant offshore resource. ASX Announcement, 16 April 2019. Available at https://www.santos.com/wp-content/uploads/2020/02/190416-b-successful-corvus-2-appraisal-well-discovers-significant-offshore-resource.pdf [Verified 7 April 2020].

Shell (2019). Bratwurst: a significant discovery for Shell. Media release, 20 December 2019. Available at https://www.shell.com.au/media/2019-media-releases/shell-significant-discovery.html [Verified 7 April 2020].

Strike Energy (2019a). Good Oil Conference: West Erregulla-2 results. Available at https://www.asx.com.au/asxpdf/20190912/pdf/448gjhr64b9jg2.pdf [Verified 24 April 2020].

Strike Energy (2019b). Outstanding flow test results from Kingia Sandstone at West Erregulla. ASX Announcement, 25 October 2019. Available at https://www.asx.com.au/asxpdf/20191025/pdf/449vnj5lfpybl9.pdf [Verified 7 April 2020].

Strike Energy (2019c). West Erregulla resource statement. ASX Announcement, 11 November 2019. Available at https://www.asx.com.au/asxpdf/20191111/pdf/44bfw6119vtjpp.pdf [Verified 7 April 2020].

Strike Energy (2020). Exploration portfolio update. ASX Announcement, 17 February 2020. Available at https://www.asx.com.au/asxpdf/20200217/pdf/44f45dch41rr9b.pdf [Verified 7 April 2020].