Project Profile
Location: Canning Basin, Australia
Area: 45,000 sq. km
ConocoPhillips entered into a farm-in agreement in 2011, where it agreed to spend US$109.5 million to fund four phases of staged exploration work to earn a 75% stake in the project. The initial three wells would target zones in the Goldwyer shale.
The Goldwyer shale acreage covers 45,000 sq km in the northern area of the Great Sandy Desert and includes exploration permits 443, 450, 451 and 456, as well as application areas 1/09-0, 2/09-0 and 5/09-0. The project potentially compares favorably with successful shale plays in the US and Canada. The primary objective of the of the first phase of the drilling campaign, including the Gibb Maitland-1 well, is to gather a comprehensive modern data set over the Goldwyer Formation via a detailed evaluation program consisting of mud logging, logging-while-drilling, coring and wireline logging. The Bongabini formation also falls within the target zones.
Operators:
New Standard Energy: Operator with 25% interest
ConocoPhillips: 46% interest
PetroChina: 29% interest