Flow tests from the deepest well ever drilled in Australia are expected within days, but it has already refocused attention on the oil and gas industry in the Perth basin.
Two local engineering services firms have reported contrasting full-year results today, with Valmec announcing record underlying earnings while profit at Lycopodium fell 9.8 per cent.
Western Australia will be carbon neutral by 2050 under an aspirational policy announced by the state government today, although it is not yet clear what mechanism will be used to achieve the goal.
Strike Energy shares have surged 90 per cent and Warrego Energy’s by 68 per cent after the joint venture partners announced a significant gas discovery as part of the West Erregulla-2 drilling campaign in the Perth Basin.
A move to reactivate a dividend reinvestment plan and a $US 1.5 billion debt deal should be read as a sign Woodside Petroleum is confident that its Browse and Scarborough projects are moving forward, chief executive Peter Coleman said.
SPECIAL REPORT: An alliance between two big unions will put pressure on oil and gas contractors at a time when many enterprise agreements reach their expiry and a big projects are set to get under way.
SPECIAL REPORT: Business News spoke to green advocates to explore how the petroleum industry might find common cause with the environmental movement, as pressure builds on billions of dollars of projects.
SPECIAL REPORT: Four prospective domestic gas projects will be key to ensuring adequate supply in WA in the next decade, despite new facilities recently starting up.
The $2 billion carbon capture and storage facility at Chevron’s Gorgon LNG plant has entered operation, more than three years after first gas was shipped from Barrow Island.
Woodside Petroleum has awarded a contract to Netherlands-based Boskalis to undertake seabed intervention and shore crossing works for the proposed Scarborough export gas pipeline.
Resources services provider Babylon Pump & Power has entered into a conditional agreement to acquire diesel engine specialist Primepower Queensland for up to $4.2 million.
Fremantle-based MMA Offshore will acquire Neptune Marine Services in a cash-and-scrip deal worth around $18.5 million, as it seeks to expand its services business.
Carnarvon Petroleum plans a $79 million share placement and a $5 million share purchase plan to fund ongoing appraisal activities and initial development phases of its Dorado oil and gas discovery.
Woodside Petroleum has reported a 32 per cent drop in second-quarter revenue, the first decline in six quarters, as it was hit by an extension of planned maintenance at its Pluto liquefied natural gas facility and weaker prices.
Oil Search says both its second-quarter production and revenue have dipped by 5 per cent as expected, but analysts were reportedly looking for a more substantial first-half recovery after last year's earthquake in Papua New Guinea.
Australia exported 75.1 million tonnes of LNG in the 2019 financial year, 21.2 per cent higher than the previous fiscal year prior, and is expected to become the largest LNG producer in the world this financial year.
Shareholders have welcomed Matrix Composites & Engineering’s market update, as the company said it expects the half-year to June 30 to be its best six months since 2016.
Shares in Pura Vida Energy surged more than 80 per cent higher today, to 3.1 cents, after it secured a binding farm-in agreement with UK-based Gemini Resources to earn a 35 per cent interest in two onshore oil and gas projects in Poland.
Calima Energy has raised around $12.7 million, via a placement and entitlement offer, with the funds set to be primarily used for general working capital purposes.
Oil Search has exercised a $US450 million ($A642 million) option to double its stake in a string of Alaskan exploration leases, while also affirming plans to sell off a portion of its first major venture outside Papua New Guinea.
Shell has shipped the long-awaited first cargo of liquefied natural gas from its massive Prelude floating LNG plant off north-west Australia, sealing the nation's position as the world's top exporter of the fuel.
