Wednesday, May 15, 2013

Shale Compendium: Australia and New Zealand

  • First commercial shale gas well in Australia launched by Santos Ltd. In October 2012 (Nasdaq)
  • Chevron entered into joint venture with Beach Energy in February 2013 acquiring a share in Australia’s shale gas. The deal valued at $349 million. (Forbes; Bloomberg)
  • ConocoPhillips invested 109.5M into Canning basin shale to fund a four-phase exploration program. (Oil & Gas Journal)
  • Queensland Energy got approval from Queensland state government to develop commercial oil shale operations (Oil & Gas Journal)
  • Chevron, Statoil, Total and PetroChina hold interests in Australian shale assets (The Australian)

New Zealand
  • Tag Oil received government approval to drill two shale wells in New Zealand (Upstream)
  • New Zealand awarded 10 petroleum exploration permits covering several shale formations in 2012 (Oil and Gas Journal)
  • TAG Oil spudded an exploratory well in the black shale and source rock formations in the East Coast basin in New Zealand. (Oil & Gas Journal Apr. 2013)

Written by Anna Leonenko, Research Fellow
Penn State Law, Agricultural Law Center
May 2013

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