BHP’s fresh punt on Bass Strait

Original article by Perry Williams
The Australian – Page: 13 & 20 : 3-Jul-20

BHP is one of several companies that provided funding for a 11,500sq km seismic survey in Bass Strait. This has prompted speculation that BHP may be hoping to make a new gas discovery as a prelude to divesting its 50 per cent stake in the Bass Strait joint venture. ExxonMobil is pressing ahead with plans to sell its stake; some observers believe that BHP’s non-operating stake could be more appealing to prospective buyers, and that it could potentially secure a deal before ExxonMobil.

CORPORATES
BHP GROUP LIMITED – ASX BHP, EXXONMOBIL CORPORATION

Gas find off Victoria lifts hopes for supply from late 2021

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: Online : 7-Sep-19

Cooper Energy and Mitsui have reported a new gas find off the coast of Victoria, with the Annie-1 discovery being located near to an existing gas plant and pipeline. Cooper Energy MD David Maxwell indicated that drilling results indicated a discovery in line with expectations before the well was drilled, which suggests a ‘best estimate’ of 70.5 billion cubic feet, and possibly as much as 137 bcf. Supply from Annie-1 could commence as soon as late 2021.

CORPORATES
COOPER ENERGY LIMITED – ASX COE, MITSUI AND COMPANY (AUSTRALIA) LIMITED

Exxon coy on Bass drill test

Original article by Matt Chambers
The Australian – Page: 17 & 20 : 16-Oct-18

ExxonMobil has advised that it is evaluating data from its Baldfish gas well in Bass Strait, but its lack of disclosure regarding the drilling program has prompted speculation about a large gas find. The gas well is located within the Dory prospect, which ExxonMobil acquired in 2017. Australian Industrial Energy has estimated that it could potentially cost at least $4bn and 10 years to develop the Dory field. AIE has advocated the construction of an LNG import terminal.

CORPORATES
EXXONMOBIL CORPORATION, AUSTRALIAN INDUSTRIAL ENERGY PTY LTD, LIBERTY PETROLEUM, APACHE ENERGY LIMITED, BHP BILLITON LIMITED – ASX BHP

Gas crisis looms as Bass Strait dries up

Original article by Glenda Korporaal
The Australian – Page: 19 : 29-Mar-18

A report from the Australian Energy Market Operator forecasts that Victoria’s gas production will fall to 187 petajoules in 2022, compared with 435 petajoules in 2017. Damien Sanford of AEMO has warned that Victoria faces a gas supply shortfall from 2022 unless new sources of gas are found. The Bass Strait gas fields are rapidly being depleted, and AEMO says Victorians could face the prospect of having to restrict gas consumption on days of peak demand from 2022.

CORPORATES
AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, ESSO AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Gas supply at mercy of low Bass Strait fields

Original article by Paul Garvey
The Australian – Page: 9 : 24-Nov-17

The Bass Strait gas fields are likely to start running out of gas in the medium term, according to a report to be released by the Department of ­Industry, Innovation and ­Science on 24 November. The report states the fields could start to run out even sooner if production is boosted in an effort to meet any rise in demand or deficit in supply. It notes that production in Bass Strait will increasingly move from shallow gas fields of high volume and quality to deeper fields of low volume and low quality. Federal Resources Minister Matt Canavan says the report demonstrates the need for states to lift their bans and moratoriums on on-shore gas exploration and development as soon as possible.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY

Exxon’s Dory could ease east coast gas shortage

Original article by Matt Chambers
The Australian – Page: 20 : 8-Aug-17

Saul Kavonic of Wood Mackenzie says the Dory gas discovery in Bass Strait could potentially relieve pressure on east coast gas supplies in the long-term. However, he adds that this assumes that the contingent resource estimate of 2.2 trillion cubic feet is proven by further exploration work. Kavonic also notes that no major production at Dory would be likely until at least 2023. ExxonMobil acquired the Dory gas field from Liberty Petroleum earlier in 2017.

CORPORATES
EXXONMOBIL CORPORATION, LIBERTY PETROLEUM, WOOD MACKENZIE, BHP BILLITON LIMITED – ASX BHP, APACHE CORPORATION