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  • 19 Oct 2023 10:30 AM | Stephanie Berlin (Administrator)

    Robust sales revenue, production and free cash flow

    • Sales revenue of more than US$1.4 billion in the third quarter.
    • Third quarter production of 23.3 mmboe was slightly higher than the prior quarter primarily due to increased crude oil production in PNG.
    • Bayu-Undan continuing to produce with at least one more LNG cargo expected, followed by sales into the Australian domestic market until end of field life.
    • Free cash flow from operations of around US$470 million in the third quarter and US$1.6 billion year to date.

    Strong balance sheet to deliver development projects

    • Pikka drilling is progressing with rig operations completed on the first three wells and the fourth well in progress. One well has been stimulated and flowed back for cleanup and data collection.
    • Barossa project now 68 per cent complete, excluding Darwin Pipeline Duplication project. Drilling activities remain suspended pending assessment and acceptance of the associated environment plan by the regulator.
    • In October Santos notified NOPSEMA that it plans to commence pipelay activities on the Barossa Gas Project after complying with the requirements of the General Direction issued by the regulator.
    • In September Santos conducted a debt offering and successfully priced a US$850 million senior unsecured transaction in the US dollar 144A/RegS market.
    • Net debt of $4.3 billion and gearing at 19.3 per cent excluding operating leases (22.6 per cent including operating leases) at 30 September 2023.

    Santos Energy Solutions focused on decarbonising the energy supply chain

    • Moomba CCS project is 75 per cent complete with first injection on track for mid 2024. Moomba CCS is targeting ~US$24 per tonne, lifecycle breakeven which will make it one of the lower cost CCS projects globally.
    • The 0.25 tonnes per day Direct Air Capture (DAC) unit arrived in Moomba during the quarter with pre-field trials commissioning work  successfully completed in Perth.

    To view the full third quarter report, click here.

    To view the full third quarter report data tables, click here.

    Source: Santos  

  • 18 Oct 2023 3:55 PM | Stephanie Berlin (Administrator)

    Monadelphous Group Limited (ASX:MND) today announced it has received a letter of intent for a variation to its existing offshore maintenance services contract with INPEX Operations Australia P/L. 

    Engineering company Monadelphous Group Limited (ASX: MND) (“Monadelphous” or “the Company”) today announced it has received a letter of intent for a variation to its existing offshore maintenance services contract with INPEX Operations Australia P/L (“INPEX”).

    The existing contract includes operational, campaign and shutdown maintenance services and brownfield projects implementation associated with the INPEX-operated Ichthys LNG offshore facilities in the Browse Basin approximately 450 kilometres from Broome, Western Australia and was recently extended by four (4) years (refer to ASX announcement on 4 May 2023).

    The variation, which is valued at approximately $75 million per annum, will add to the Company’s scope of work under the existing contract to include the provision of similar services at the INPEX-operated Ichthys LNG onshore processing facilities at Bladin Point in Darwin, Northern Territory. Monadelphous is working closely with INPEX to finalise the terms of the variation. 

    to view the full ASX announcement, click here.

    Source: Monadelphous Group Limited

  • 18 Oct 2023 3:41 PM | Stephanie Berlin (Administrator)

    Western Australian-based mining services provider Monadelphous will take control of INPEX’s $75m a year on-shore maintenance contract under a deal flagged on Wednesday morning.

    About 400 employees at Inpex’s Middle Arm LNG processing plant will change boss next month if the proposed amendment to Inpex’s onshore maintenance contracts goes ahead. Shift changes at the worksite are also on the table.

    The new agreement will follow the termination of Inpex’s contract with Trace, which has had the company’s onshore maintenance contract since 2017.

    Workers were informed of the change during a town-hall meeting at Inpex’s Bladin Point site.

    All existing Trace employees will have the option of shifting to Monadelphous.

    Monadelphous announced it had received a letter of intent from Inpex to vary its existing maintenance services contract.

    It said the $75m variation would add to the company’s scope of work under the 2017 agreement with Inpex, that was extended in May.

    If approved, Trace’s contract would expire on November 22 and be assumed by Monadelphous the following day.

    In its ASX statement, Monadelphous said the existing contract included operational, campaign and shutdown maintenance services at Inpex’ offshore facilities in the Browse Basin in Western Australia.

    “The variation, which is valued at approximately $75 million per annum, will add to the company’s scope of work under the existing contract to include the provision of similar services at the Inpex-operated Ichthys LNG onshore processing facilities at Bladin Point in Darwin, Northern Territory,” the statement said.

    “Monadelphous is working closely with INPEX to finalise the terms of the variation.”

    Monadelphous has been operating in the Northern Territory since 1993, opening a Darwin workshop in 1994 and operating out of the Gove alumina refinery and bauxite mine from 1996.

    Monadelphous’ Darwin workshop was upgraded in 2019 to support contracts with Inpex and Shell.

    In addition to the Ichthys project, Monadelphous has been involved with developments including ENI Blacktip, Union Reef gold mine, Argyle diamond mine and the Tanami Granites mine site.

    Source: NT News
  • 18 Oct 2023 11:32 AM | Stephanie Berlin (Administrator)


    • Farm-in agreement with Mosman Oil and Gas Ltd to acquire a 75% interest in the EP 145 Permit in the Amadeus Basin in Central Australia. The proposed transaction is subject to Ministerial Consent and Government approval for the transfer of the rights as an Operator.
    • EP 145 hosts an existing Prospective Resource Estimate, with a “Best Estimate” of 440 Billion cubic feet (“Bcf”) Total Gas, including 26.4 Bcf of Helium and 26.4 Bcf of Hydrogen.
    • Preliminary technical analysis indicates the tenement hosts favourable geology for helium production, with similar characteristics to other producing helium wells in the Amadeus Basin.
    • The Amadeus Basin has a long history of hydrocarbon production and has the potential to become a world-class province for helium and hydrogen, with some of the highest concentrations of helium globally and confirmed hydrogen accumulations.
    • Acquisition provides an exciting opportunity to target the rapidly expanding helium market, which is experiencing significant long-term supply shortfalls.
    • Proximity to critical gas infrastructure provides a near-term commercialisation pathway, with potential to be rapidly advanced alongside Greenvale’s flagship Alpha Torbanite Project in Queensland.
    • Transaction terms is a cash payment of $160,000 for a 75% interest and with the Company to fund 100% of the seismic and well work programme. 
    • Greenvale is to be the Operator of the project. The Project is to be administered under an Operating Committee, which Greenvale will control. 

    To view the full ASX announcement, click here.

    Source: Greenvale Energy

  • 17 Oct 2023 12:32 PM | Stephanie Berlin (Administrator)

    Mosman Oil and Gas Ltd (AIM:MSMN) has agreed a farm-in deal for its EP 145 project in Australia’s Northern Territory with Greenvale Gold.

    Greenvale can earn up to a 75% stake in the project through the payment of A$160,000 cash, paying for A$2 million of seismic as part of a work programme and a well with costs capped at A$5.5 million.

    Mosman added it had identified a drilling target at 1,500 metres (m) and estimated the cost of drilling that well to be in the order of A$5 million.

    Costs above the A$5.5 million cap will be shared 75% by Greenvale and 25% by Mosman.  

    Regulatory approvals are expected by 30 January 2024, after which the agreement can be terminated by either party if they have not been received.

    Mosman added it considers the farm-in the best outcome as it eliminates the need to raise additional capital.

    A spin-out and initial public offering (IPO) as had been previously suggested would have involved significant costs, Mosman added.

    Andy Carroll, chief executive: added: "We are pleased to have reached agreement with Greenvale who we see as a strong Joint Venture partner to work with in Australia.

    “This agreement delivers on funding exploration and is validation of the helium, hydrogen and hydrocarbon potential of EP 145."

    Shares rose 18% on the announcement.

    Source: Proactive Investors

  • 17 Oct 2023 12:15 PM | Anonymous

    Minister for Local Government Chansey Paech has today placed the Barkly Regional Council under official management, and all elected members have been suspended from office.

    The Minister has made this decision because he is satisfied there are, or may be, serious deficiencies in the conduct of the Council’s affairs.

    Peter Holt has been appointed Official Manager and now holds the powers of the elected members to ensure the business of Council continues without interruption.

    Ruth Morley has been appointed as Investigator to examine the affairs of the Council and will report her findings to the Minister by 12 March 2024.

    During the period Council is under official management, elected members will not be able to conduct any official Council business, and all allowances and other entitlements will cease.  This process will not affect staff members.

    The Barkly Regional Council serves around 8000 constituents spanning approximately 325,000 square kilometres from Newcastle Waters in the north to Tara in the south.

    Tennant Creek is the regional centre of the local government area, which also includes Arlparra, Ampilatwatja, Ali Curung, Alpurrurulam, Wutunugurra, and Elliott.

    Quotes attributable to Minister for Local Government Chansey Paech:

    “Official management will ensure the continuance of governance at the Barkly Regional Council; and establish its position in regards to its fiscal management and service delivery obligations.

    “I acknowledge the remoteness of communities served by the Barkly Regional Council provides unique geographic and demographic challenges, but it is imperative that the Council is able to operate effectively so residents receive the services they need and deserve.

    “My decision today paves the way for better-functioning services across communities and a more stable future for the people of the Barkly region.”

    Source: NT Government Newsroom

  • 16 Oct 2023 9:02 AM | Stephanie Berlin (Administrator)

    EP 98/117 Operational Update: A3H drilled in record time in less than 18 days


    • The Amungee NW 3H (A3H) well in 38.75 per cent owned exploration permit EP 98 has reached a Total Depth (TD) of 3,837 metres (12,589 feet), including a 1,100-metre (3,609 feet) horizontal section within the Mid Velkerri B Shale.
    • The well intersected the target Mid Velkerri B shale at a total vertical depth (TVD) of 2,272 metres (7,454 feet) and encountered significant gas shows within the shale, in line with pre-drill expectation.
    • Drilling took in 17.9 days (spud to TD), 20 days faster than the Amungee 2H (A2H) well, at an average daily rate of 214 metres per day (702 feet per day). This demonstrates the improved drilling efficiency of Helmerich & Payne, Inc.’s (H&P), (NYSE: HP), super-spec FlexRig® Flex 3 Rig.
    • Total estimated cost for the drilling and cementing of the A3H well is A$12.6 million, in line with forecast and ~30 per cent lower cost compared to the A2H well. The stimulation program is planned for the second quarter of 2024, following the end of the Northern Territory wet season.
    • Stimulation activities for the Shenandoah South 1H (SS1H) well in EP 117 are on track to commence in November 2023 with IP30 flow rates planned for early 2024, subject to successful completion of the stimulation program and weather delays.

    Source: Tamboran Resources

    To view the full ASX Announcement, click here.

  • 05 Oct 2023 12:19 PM | Stephanie Berlin (Administrator)

    Joint media release with Minister for the Environment and Water the Hon Tanya Plibersek MP.

    The Australian Government is working to secure Australia's future water resources through a first of its kind stock take of the nation’s underground water reservoirs. 

    The National Hydrogeological Inventory, developed by Geoscience Australia, has mapped Australia's major groundwater-bearing basins and geological provinces. 

    The inventory paints a picture of the communities, industries and environments that rely on groundwater.

    Minister for Resources and Minister for Northern Australia, Madeleine King said that despite Australia’s reliance on groundwater, experts still had a long way to go in their knowledge and understanding of groundwater systems. 

    “Groundwater is critical to our national water security and for many areas of Australia has been the only constant source of water,” Minister King said. 

    “The Inventory, developed through Geoscience Australia’s Exploring for the Future Program, will assist decision-making and help us plan future investment in groundwater.” 

    Minister for Environment and Water Tanya Plibersek said that the Inventory was an example of how the Government is working to better understand and protect our environment for future generations.

    “The impacts of climate change will leave lasting effects on surface water, so now more than ever we need to understand the lifecycle of groundwater,” Minister Plibersek said.

    “The new National Hydrogeological Inventory will provide improved access to information on both shallow and deep groundwater systems which support regional and remote community water supplies, urban water supply and our precious plants and animals.”

    Geoscience Australia’s Dr Steve Lewis, a groundwater geologist, said one of the most intriguing elements of groundwater is the occurrence of recharge - the process by which water moves downwards through the Earth's surface to become groundwater, recharging the aquifers within the basin.  

    “Developing an understanding of groundwater recharge processes is fundamental for developing a water balance, and for the sustainable management of water resources,” Dr Lewis said.

    “Most recently we have been studying recharge processes in the Great Artesian Basin through mapping surface and near-surface structures to understand how water enters the ground to recharge the basin aquifers. 

    “This basin is the most significant hydrogeological system in the country covering more than 1.7 million square kilometres across Queensland, New South Wales, South Australia and the Northern Territory.

    “For each hydrogeological region, a range of consistent and up-to-date information is compiled, relevant to understanding the geology, geography, hydrogeology including groundwater resources and systems,” Dr Lewis said.  

    The new National Hydrogeological Inventory will collate these studies to provide a greater understanding of Australia’s water systems, allowing a national view of groundwater resources across Australia. You can view the inventory here.


    The Hon Madeleine King MP

    Minister for Resources and Minister for Northern Australia

  • 04 Oct 2023 4:20 PM | Anonymous

    Exact Contracting will soon commence the next stage of upgrades to the Carpentaria Highway which will take place between chainage 50 km and chainage 109 km.

    The upgrades will involve sealing, reconstructing, widening and lifting as well as flood immunity improvements. The road will be sealed to a two lane standard, offering substantial safety benefits for road users.

    The next stage of construction will commence in early October 2023 and be completed in late 2024.

    Construction will take place 7 days a week between the hours of 6am to 6pm. Some night works may be required.

    Detours and traffic management will be in place at times throughout the project.

    About the project

    The Carpentaria Highway is a key access road to the town of Borroloola and surrounding regions, and an important service route for the pastoral, tourism, agricultural and mining sectors, including the Beetaloo Sub-basin.

    $150 million has been allocated by the Australian and Northern Territory governments to deliver upgrades on the Carpentaria Highway over 4 years.

    The upgrades to Carpentaria Highway will complement multiple strategic projects currently underway that aim to bring the Territory’s vision to become a world-class gas production, manufacturing and services hub to reality.

    The benefits of the project include:

    • improved efficiency and network reliability
    • improved freight productivity and access to freight gateways
    • improved road safety for all road users, in line with Towards Zero Road Safety Action Plan
    • improved connectivity between people with jobs and services, and goods with markets
    • improved flood immunity, thereby reducing annual road closures
    • improved access to health and social services for remote and Aboriginal communities
    • increased Aboriginal employment and business supplier use.

    For further information, visit, email or phone 08 8924 7118.

  • 04 Oct 2023 12:26 PM | Stephanie Berlin (Administrator)

    In 2019-20, the direct value of the maritime industry to the Territory's economy was $184 million, with the sector expected to grow to $347 million by 2030.

    The new Maritime Industry Development Plan is being pulled together to provide a framework to grow the size, scope, capability and commercial sustainability of the Territory's maritime sector.

    NT chief minister Natasha Fyles said the maritime sector is seen as a key enabler for a range of industries including oil and gas, defence and border protection, agribusiness, recreational and commercial fishing and tourism.

    The industry currently employs 980 full time workers, which is anticipated to surge to at 1,490 by 2030.

    The Maritime Industry Development Plan includes the development of the Marine Industry Park, Darwin Ship Lift, Middle Arm Sustainable Development Precinct and a holistic approach to ports throughout the Territory.

    The Chief Minister said the Darwin Ship Lift and Marine Industry Park will become the centrepiece of the Territory's maritime industry, paving the way for hundreds of jobs and positioning Darwin as a major international and national player in the marine services industry.

    She said the government's vision is for the Territory to be a leading hub for maritime service, supply and sustainment in the Indo-Pacific region.

    The key focus areas include; developing strategic infrastructure by investing in maintenance, freight and connectivity-related infrastructure to drive future industrial expansion; growing the Territory's maritime industry and working together with industry, the Australian Government and the community to sustainably grow the maritime industry; and developing local capability and capacity by ensuring Territory businesses are positioned to take advantage of an expanding maritime industry; and

    It will also focus on stimulating growth in the regions: Developing the regional maritime industry to unlock new opportunities for regional communities.

    "The maritime industry delivers direct jobs, opportunities and investment for the Territory - employing close to 1000 full time workers, with that number anticipated to grow.

    "Darwin is strategically significant, being centrally located on the Northern Australian coastline we have the capability to be the leading destination of new and current industries," Fyles said.

    LNG support hub

    In recent years the Territory has investigated the opportunity for it to be a major global gas supplier, delivering on increasing demands for clean, affordable energy and creating long-term economic growth and more jobs.

    The government's vision its that by 2030 the Territory will be a world class gas production, manufacturing and services hub.

    Supporting this, it has developed a 5 point plan to:

    • expand Darwin's LNG hub

    • grow the service and supply industry

    • establish a gas-based processing and manufacturing hub

    • grow local research, innovation and training capacity

    • contribute to Australia's energy security.

    It has also developed a goal that by 2025 local participation in the gas industry supply chain will be at least 50%.

    This has been assessed to have the potential to add an additional $1 billion to the Territory economy over the next 10 years.

    Source: Energy News Bulletin

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