GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
I'm thinking this is ECS finishing the Empire rig on Sept 1.
https://www.facebook.com/ExpressCargoServices/photos/a.857992790911937/3570462776331578/?type=3&theater
Some good results from them would sure help us. No frac till next year though.
ECS Project Logistics was back in the NT doing some pre-work in Alice Springs for an upcoming job. Pic was taken 3 weeks ago. I know that's closer to Central Petroleum permits (they're on hold), but it's the highway to the Beetaloo. Could be Empire's rig.
https://www.facebook.com/ExpressCargoServices/photos/a.857992790911937/3510442712333585/?type=3&theater
Empire looking for more $$. Could be why they are proactive on the PR.
https://www.afr.com/street-talk/empire-energy-readies-raising-morgans-blue-ocean-at-hand-20200825-p55ozi
"NAIF funding, the NCCC, those sorts of things are all very much aligned in terms of what this particular infrastructure does, not just for the Northern Territory but really for the entire east coast gas market in terms of bringing cost-efficient gas to the markets that are really short on that," Central Petroleum chief executive Leon Devaney told The Australian Financial Review.
"It's a great piece of infrastructure, it makes a lot of sense."
Shares in Central, a junior oil and gas producer, were up 4.5 per cent at 9.3¢ in mid-afternoon trading.
A final go-ahead for construction is targeted for the second half of 2021, with gas to flow in the March quarter of 2024, Central advised.
However gas prices delivered through the pipeline are going to be in the $8-$10 a gigajoule range, not the $4-$6/GJ targeted by the NCCC's manufacturing taskforce and which manufacturers are calling for, Mr Devaney said.
"We’re going to be a very strong, cost-competitive source of gas and we expect to be able to compete aggressively with every producer on the east coast," Mr Devaney said.
"We are at a point where $4 is not going to be economically viable, you are just not going to get costs of production down there."
Central and Macquarie Mereenie, 50 per cent partners in the Palm Valley, Dingo and other gas fields near Alice Springs, would be the foundation customers for the pipeline, which would be built by Australian Gas Infrastructure Group, a pipeline business owned by Cheung Kong.
The proposed pipeline could deliver 124 terajoules a day of gas, or 45 petajoules a year, and could be expanded by adding compression.
Conventional gas fields operated by Central in the Amadeus Basin have about 200 petajoules of uncontracted reserves, which could be supplied through the pipeline, while other prospects lie nearby. The project does not depend on resources that require fracking, Mr Devaney said. The controversial process has become a campaign issue for the NT election on August 22.
The agreement between the three remains at the "memorandum of understanding stage", between Central, Macquarie Mereenie and AGIG.
Mr Devaney described the implications of the pipeline project as "huge" not only for the companies involved and for the NT, but for the east coast gas market, particularly as traditional gas supplies from the Bass Strait and Cooper Basin declined.
AGIG chief executive Ben Wilson said the company was "delighted" to partner with Central and Macquarie in the MOU and was focused on delivering gas for customers.
https://outline.com/Pv4dcV
Expecting a mid September spud date. Fracking after the wet season. Not sure why the greenies were upset they were drilling in the wet season.
https://au.finance.yahoo.com/news/empire-energy-group-ltd-asx-214700515.html
Page 7 of this one shows a capex of over $90M (primarily Beetaloo) for FY2020 drilling.
https://www.originenergy.com.au/content/dam/origin/about/investors-media/documents/200731_quarterly_report_jun20_final.pdf
• Capex spend primarily relates to Beetaloo E&A activity
including Kyalla and Velkerri civil works, rig
mobilisation and Kyalla drilling
• Results to date from the Kyalla well demonstrate good
reservoir continuity, conductive natural fractures, and
continuous gas shows
Empire had a JV until the death of Aubrey McClendon. They have mentioned they are looking for another JV. They don't have the $$ for the drilling that is required to claim a commercial find....IMO. If Empire makes it to the end, they won't own 100%.
Sorry! Opened fine on the phone...
East coast gas market hopeful Tamboran Resources is in front of fund managers outlining the biggest mooted Australian oil and gas sector initial public offering in years.
Tamboran Resources is seeking to raise $195 million in the coming six months to fund commitments across its three assets, including one jointly owned with local heavyweight Santos.
More than $US350 million has been spent exploring the Betaloo Basin since the 1960s, and Origin Energy and Santos’ emergence in recent years combined with regulatory changes has revived interest. James Davies
Its pitch is about becoming the ASX’s only pure-play Beetaloo Basin project developer (and later producer) of size, at a time when Australia’s east coast gas market is screaming out for new sources of supply.
The Beetaloo Basin is one logical place to help fill the gas market supply shortfall, which is forecast from 2024. Tamboran has three assets in the McArthur Basin, within the Beetaloo sub-basin, which is located about 500 kilometres south of Darwin.
Tamboran has told potential investors its goal is to develop at least 5 trillion cubic feet of proven and probable reserves to help with the shortfall, with initial production of at least 36 petajoules a year. It says more than $US350 million has been spent exploring the Beetaloo Basin on and off since the 1960s, and Origin Energy and Santos’ emergence in recent years combined with regulatory changes has revived interest.
First, though, Tamboran needs fresh capital. It is seeking to raise $30 million to $50 million in a pre-initial public offering raising via Bell Potter Securities to fund pressing commitments now, with plans to return to the market for another $160 million in an IPO slated for as soon as the December quarter.
Funds raised would be used to complete a pair of acquisitions – including Paul Fudge’s Pangaea Resources for $19 million, and an American company called Sweetpea Petroleum, both of which are neighbours in the Beetaloo.
Whopper deal
It’s a mammoth raising in Australian oil and gas and particularly given challenges in energy markets globally. The world leaders in shale, the US producers, are mostly either in distress or even bankrupt. Locally, there are doubts about how much time Santos and others will spend trying to progress their Northern Territory projects next year.
But fund managers reckon that if anyone could pull it off, it could be Tamboran whose team is spearheaded by some US shale pioneers and Australian industry players. Chairman Patrick Elliott founded Eastern Star Gas, which Santos bought for $924 million in 2011, while former Petrohawk Energy Corp founder and president Dick Stoneburner is a director. BHP bought Petrohawk for $US12.1 billion.
After their purchase of Sweetpea and Pangaea
https://www.afr.com/street-talk/beetaloo-gas-play-tamboran-pitches-whopper-ipo-to-investors-20200721-p55dy3
Continuing the story...like the 2 reader's comments though..
https://www.alicespringsnews.com.au/2020/07/06/tweedledum-and-tweedledee-both-like-fracking/