Aurora Oil & Gas Limited (TSX:AEF, ASX:AUT) announced the release of the company’s financial results for 2012 and for the fourth quarter, which showed an annual revenue of $295M.
Articles Tagged "australia"
Bengal Energy Ltd. (TSX:BNG) announced that it has received initial production testing results from recently-drilled wells at the Australian Cuisinier oil field, commenting that new oil production from three of the four wells totals about 1,800 barrels of oil per day — more than was expected initially.
The Sydney Morning Herald reported that BHP Billiton Ltd. (ASX:BHP) and ExxonMobil Corp. (NYSE:XOM) may make a decision on how to develop Western Australia's Scarborough gas field in less than a year. The field contains an estimated 10 trillion cubic feet of gas, but its appeal has been mitigated by the fact that it is located in remote, rough seas.
Falcon Oil & Gas Ltd. (TSXV:FO) announced that it has been granted one-year extensions for three permits in Australia's Beetaloo Basin, as well as for one other adjacent permit. The permits are wholly owned by Falcon Oil & Gas Australia Ltd., the company's subsidiary.
The Wall Street Journal reported that PetroChina Company Ltd. (HKEX:0857) has set aside $15.7 billion for overseas oil and gas investments this year, and is on the hunt for acquisitions in Central Asia, East Africa, Australia and Canada.
Bloomberg reported that large-scale oil and gas production in Australia likely will not happen for up to a decade unless companies focus on higher-priced oil and liquids.
Bloomberg reported that obstacles such as a lack of drilling equipment and increased labor and infrastructure costs could mean that Australian shale explorers will not reach large-scale oil and gas production for another ten years.
Bloomberg reported that the Australian government has put forward 27 areas that could be explored for oil and gas. The locations suggested are off the coasts of the Northern Territory, Western and South Australia, and Victoria and Tasmania.
The Energy Information Administration (EIA) forecasts that increasing consumption in 2012, led by strong growth in the electric power sector, should contribute to higher prices and to an economic incentive for producers to resume drilling.
Reuters reported that Chevron (NYSE:CVX) is putting significant investment into two Australian natural gas projects.