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Drilling Down Under: Canadian Oil Companies in Australia

April 17, 2012 via CanadianOil Tagged With: australia oil and gas, australia oil and gas companies, australia oil companies, bengal energy, oil and gas Australia, oil Australia, petrofrontier, rodinia oil

australia georgina basin

There’s more to Australia than Kangaroos and Koalas such as 50 relatively under-explored sedimentary basins. Of those, only 12 are producing oil and gas while 4 have been confirmed to have non-commercial reserves. The remaining 34 basins have seen very little exploration if any as they have not been drilled to any significant extent.

Australia’s 30 on-shore drilling rigs are dwarfed by a fleet of more than 800 rigs in Canada. The bulk of petroleum spending in OZ is directed offshore leaving only 13% for onshore exploration. Australia is an LNG exporter but imports 55% of its domestic oil demand. … Continue Reading

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