Australian exploration review 2020
Ian CockerillThe APPEA Journal 61(2) 331-340 https://doi.org/10.1071/AJ21006
Accepted: 31 March 2021 Published: 2 July 2021
Abstract
Australian exploration battled on through the challenging headwinds of 2020 and surprisingly, 2020 saw an increase in exploration drilling on 2019 activity. Twenty-five exploration wells were drilled in 2020 versus 20 exploration wells drilled in 2019. Eight discoveries were made during the year, with the most significant being the Enterprise discovery in the Otway Basin. 2020 also saw a return to exploration drilling in the Beetaloo Sub-basin unconventional plays. Appraisal drilling was dominated by Cooper-Eromanga Basin and coal seam gas activity. There were no offshore appraisal wells in 2020. The exploration farm-in deals of note were Santos taking additional equity from Armour in their South Nicholson Basin unconventional project and Origin taking additional equity from Falcon in their Beetaloo Sub-basin unconventional project. Origin also farmed into the Canning Basin position of Buru Energy and Rey Resources. Australia is set for an exciting year of exploration ahead with a return to exploration drilling in the Bedout Sub-basin, further exploration drilling in the North Perth Basin and a continuation of drilling and testing of the unconventional plays in the Beetaloo Sub-basin.
Keywords: exploration, appraisal, seismic, drilling, acreage, Enterprise, Beetaloo, Beach, Santos.
Ian Cockerill has over 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 throughout the world. Ian has worked in technical positions for Hunt Oil, Apache Energy and RISC Advisory and in executive positions for Transerv Energy, Verona Energy and TSV Montney. He is currently New Ventures Manager for Beach Energy |
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