Exploration & Production

Spending rises as Aussie market responds to price signals

Australia’s exploration programmes and M&A activities appear to be showing signs of recovery Australia’s exploration programmes and M&A activities appear to be showing signs of recovery.
By Sally Bogle 4 August 2017 0 27059
A Beach Energy drill rig in the Cooper Basin. (Beach Energy)

Further signs are emerging that the downturn in Australia’s spending on gas exploration may be bottoming out. 

Several operators have announced renewed exploration investment programmes in recent months in response to demand and price signals. Merger and acquisition activity also appears to be picking up as operators target potential growth assets, experts have said. Companies are kickstarting exploration programmes at a local level after at least two years of plummeting investment. 

“The moratorium on fracking [in several Australian states] may be boosting upstream spend into other areas,”...