Santos Ltd. reported a 24 percent drop in fourth-quarter sales and flagged asset writedowns after a further decline in oil prices since its November announcement of $2.5 billion program to cut debt.
Quarterly sales fell to A$828 million from A$1.09 billion a year earlier, the Adelaide-based company said Friday. That beat estimates from UBS Group AG and Macquarie Group Ltd. Output dropped 1 percent to 14.9 million barrels of oil equivalent, and spending decreased 43 percent to A$477 million.
Oil major Chevron said the current vice president of the company’s Appalachia business will be moving to become deputy managing director of its Australian unit.
Oil major Chevron will soon mark a milestone in its preparations to start exports from its Gorgon LNG project in Australia.
The company's $54billion project could soon be marking its first shipment after the company said an LNG cargo had arrived at its plant on Barrow Island.
Diving specialist Neptune been awarded a marine maintenance diving contract by Chevron in Australia for various natural gas assets in Western Australia.
Beach Energy has appointed a new chief executive to lead the company.
Matthew Kay will take over from July with more than 25 years’ experience in the oil and gas industry.
POSH Terasea has won a deal to project manage, tow and position Shell’s Prelude FLNG (Floating, Liquefied Natural Gas) platform from South Korea to its offshore gas field in Australia.
The Prelude is the world’s largest offshore gas facility ever constructed and the deal will see the company tow the Shell Prelude FLNG over 3,000 nautical miles from the Samsung Shipyard in Geoje to Australia where it will be deployed.
Shareholders of Drillsearch Energy Ltd. look set to approve a A$384million ($266million) takeover of the Cooper Basin oil and gas producer in Australia by Beach Energy Ltd. later this month, the Australian Financial Review reported.
Buru Energy said it has identified a five metre sandstone interval at the Ungani Far West 1 well in North Western Australia.
The company said an oil sample was recovered with interpretation of pressure data indicating a potential oil column of at least 14 metres with around five metres of net pay.
A sampling program is continuing with results expected to be on going.
The joint venture between Clough and AMEC has been awarded a three-year contract by ConocoPhillips to provide asset support, operations and maintenance services to the Bayu-Undan offshore field development, located in the Timor Sea, north of Australia.
Transerv said sustained gas flow and a continuous gas flare have been achieved from the Warro-6 well in Western Australia during the initial clean-up phase of the well.
The company said the flow rate has yet to be measured but the early stage result is considered to be a significant development in its strategy to establish Warro as a major economic gas project.
Warro is Australia’s largest undeveloped gas field with resources of 11.6trillion cubic feet of gas in place.
Woodside Petroleum and its partners have approved a $2billion natural gas project off Australia's northwest coast which is looking to develop more than 1.6trillion cubic feet of raw gas.
The decision signals the second phase of the Greater Western Flank project, which will mark the fourth major gas development in seven years in the venture, operated by Woodside.
Wood Group has secured a second front-end engineering design (FEED) contract for the proposed Browse floating liquefied natural gas (FLNG) Development offshore Western Australia.
Oil major Chevron is making headcount reduction from its staff in Australia as it looks to streamline costs across the globe.
The company previously announced it would be cutting between 6,000 and 7,000 jobs around the world as it looks to combat low oil prices.
Terra Nova Energy said it has spudded the Baikal 1 well in Southern Australia.
The company said the start of operations from the Baikal well had been completed using the Eastern Well 101 rig.
The chairman of Spitfire Oil said the junior oil and gas market had been severely, if not mortally wounded by the dramatic fall in the price of hydrocarbons.
Shares in Australian oil and gas giant Santos went on a trading halt on Wednesday amid speculation its retail investors bought only about a third of the A$1.35 billion ($987 million) of shares offered by the oil and gas producer in a move to pay down debt.
A hi-tech lab to test silica sand and ceramics for their fracking ability is helping a South Australian company break new ground in the oil and gas industry.
BG Group has begun commercial operations from the second train at its Queensland Curtis LNG plant in Australia, assuming full control of the facilities in the process.
