Project Profile
Value: Undisclosed
Location: 180 kilometres south of Fitzroy Crossing in north Western Australia
Start-up Year: -
Area: 1.183 million acres
Green Rock Energy has relinquished all of its rights in the Laurel shale gas project, located in Western Australia’s Canning basin, to project partner New Standard Energy.
The Laurel project is located about 180 kilometres south of Fitzroy Crossing in north Western Australia and is comprised of exploration permit 417 and the Seven Lakes special prospecting authority. By acquiring Green Rock’s 40% stake in the Seven Lakes SPA, New Standard Energy will now hold a 100% operated interest in this block. New Standard will pay an upfront cash amount of US$1.1 million to Green Rock.
New Standard said the acquisition increased its net acreage position in the Laurel formation to 1.183 million acres and allowed the company to pursue further farm-out opportunities with various parties.
Operator:
New Standard Energy: Operator with 100% interest