Aussie exploration race begins as eastern shortage looms

Strike Energy is beginning exploration in the Cooper Basin, backed by an unusual deal in which the buyer is funding the programme in exchange for cheaper long-term supplies further down the road
By Sara Stefanini 8 November 2013
Strike Energy’s licences in Australia.

Strike Energy is under a tight deadline. Having secured a long-term buyer and funding, the Aussie minnow is racing to appraise and test its promising unconventional gas prospects and – if all goes well – begin commercial output in 2017, a crucial year for eastern Australian gas buyers.

The Sydney-based company started drilling this month on the first of two appraisal wells – Le Chiffre 1 and Klebb 1 – in the South Australian part of the Cooper Basin. It expects to finish drilling them by...

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Sign in

Not a subscriber?

To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.

Sign up