Revenue for the quarter was $194 million, with lower oil prices the main driver of the 17 per cent decline. At quarter end, cash reserves were $249 million with the debt facility of $300 million remaining undrawn.
Strong gas production, underpinned by the South Australian Cooper Basin Joint Venture (SACB JV) infill drilling program, and the continued outperformance of the Bauer field resulted in strong December quarterly production of 2.4 MMboe, in line with the prior quarter.
First half production was 4.8 MMboe, only slightly down on the prior corresponding period.
As a result, Beach has narrowed its ...
The Australian Petroleum Production & Exploration Association (APPEA) has opposed the moratorium on CSG exploration that will stay in place until a year-long parliamentary inquiry is complete.
AGL has suspended operations at its Gloucester CSG extraction project after the detection of BTEX in samples of flowback water taken from two of the four wells and from an aboveground water storage tank.
The Australian Petroleum Production and Exploration Association (APPEA) said the Productivity Commission's review of Australia's workplace relations provides an opportunity for much-needed reform of a system that is failing the national interest.
Santos has recorded strong sales revenue in its fourth-quarter report, reflecting the successful ramp-up of production from the PNG LNG project as well as higher Cooper Basin production.
Junior oil and gas explorer FAR Ltd has appointed respected oil industry analyst and advisor Gordon Ramsay as its Executive General Manager of Business Development.