This seismic survey, contracted to Terrex Seismic of Australia, will fulfill the Northern Territory government work commitments for permit retention, will delineate the southern and northwest basin margins and help outline prospective hydrocarbon target areas.
The company secured $15.5 million in investment, enough to drill eight wells.
The conference, which examines unconventional gas development (coal-seam gas, tight-gas and shales) in Australia, will be held Aug. 27-29 in Brisbane's Royal International Convention Centre.
Under the amended farm-in agreement, Statoil could spend a total of up to $175 million by the end of 2016 before PetroFrontier will be required to contribute further.
"The North American Shale Revolution: Analogues For Australian Success" provides proven strategies for resource plays.
Australia has considerable petroleum, natural gas and coal reserves and is one of the few countries belonging to the Organization for Economic Cooperation and Development (OECD) that is a significant net hydrocarbon exporter, exporting about two-thirds of its total energy production.
Kingston Rule-1 is located in southern Cooper basin permit PEL 115 (Senex, operator, 80% and Orca Energy, 20%) on the western flank of the Mettika Embayment.
The country has identified 392 trillion cubic feet (Tcf) of conventional gas resources, and another 631 Tcf of resource from unconventional sources such as coal-seam gas (coalbed methane to North Americans, CSG to Aussies) and, yes, shale too.
The well reached total depth at 4,267 m (14,000 ft), after which a 14-stage fracture stimulation program was completed through the whole of the gas-saturated Permian target zone.
As a result of this farm-out to Chevron, Beach is positioned for long-term appraisal and development of the Nappamerri Trough gas resources.