EXPLORATION

Energy Briefs

IN TODAY'S Energy Briefs: Geodynamics receives rebate; Statoil springs leak; OMV NZ disappointed;...

Karoon Gas

Karoon Gas has placed itself in a trading halt pending an update to the market on its drilling operations in the Browse Basin.

The company expects to make its announcement on February 3 and is set to resume by February 4.

Geodynamics

Geothermal exploration company Geodynamics has received a research and development tax incentive refund from the Australian government for $8.5 million.

Under the scheme, companies making less than $20 million in turnover are entitled to a cash refund of 45c per dollar spent on eligible R&D in Australia.

The company's claim covers operations in the Cooper Basin enhanced geothermal systems project where the 1 megawatt Habanero pilot plant was commissioned during the 2013 financial year.

Statoil

Production has resumed at the Statfjord C platform after it was closed down due to an oil leak.

According to Statoil's report of the incident, 32 cubic metres of oil leaked into the sea during the incident.

An investigation is underway by Statoil and the Petroleum Safety Authority Norway.

WHL Energy

WHL has requested a trading halt pending an announcement on its Seychelles acreage.

The company's securities will return to the market on February 4 or when an earlier announcement is made.

OMV New Zealand

OMV New Zealand has completed drilling operations at its Matuku-1 exploration well in the Taranaki Basin with disappointing results.

The well encountered sandstones in the primary and secondary targets but did not identify the presence of commercial hydrocarbons.

Logging and drilling data acquired from the well will be used to update geological models of the permit area.

"Although it is disappointing that we didn't discover a new major oil field, this is the nature of oil and gas exploration," OMV NZ managing director Peter Zeilinger said.

"The probability of making a new discovery is typically well below 50%.

"To be a successful explorer requires a long-term commitment and a willingness to continuously re-evaluate your geological model based on new information becoming available."

Austin Exploration

Austin Exploration has requested a trading halt on the ASX pending an announcement on a capital raising project.

The company's securities are expected to go back into trading on Wednesday or upon the announcement being made.

Oilex

Oilex is on track to maintain its spud date for the Cambay-77H site between February 22 and March 9.

All 149 packages for the building of the LR-4 rig have been delivered and unloaded onsite.

TOPICS:

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB CCS Report 2024

ENB’s CCS Report 2024 finds that CCS could be the much-needed magic bullet for Australia’s decarbonisation drive

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry