Industry News

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  • 17 Apr 2024 4:30 PM | Stephanie Berlin (Administrator)

    The Territory Labor Government is focused on growing our economy and natural gas is a key pillar in our comprehensive plan.

    Today, announced on the ASX, Empire Energy has successfully raised over $46 million enabling them to progress drilling in the Beetaloo Sub-Basin for natural gas

    The drilling will comprise of a pilot development well for pre-production testing. Empire Energy is anticipating commencement of commercial production by 2025 with the first supply of natural gas going into the Northern Territory Market.

    This announcement highlights international confidence in the Beetaloo Sub-Basin and in the Territory’s economy moving forward, with an estimated $17 billion increase in economic activity through the Beetaloo Sub-Basin alone.

    Natural Gas will facilitate working opportunities for thousands of Territorians, boost local businesses and secure precious energy supplies.

    This comes as the Territory Labor Government announced $2 million per year securing our natural gas industry through a regional monitoring program in the Beetaloo Sub-Basin. This investment ensures the strongest environmental safeguards based on data collected through the Beetaloo Sub-Basin SREBA are maintained.

    Quotes attributable to Chief Minister, Eva Lawler:

    “Today’s announcement by Empire is fantastic news for jobs, fantastic news for our economy and fantastic news for the future of the Territory.

    “I am focused on getting Territorians working and as we continue to grow this critical sector, more and more opportunities become available for Territorians to secure stable employment.

    “The Northern Territory will be at the forefront of natural gas production, and we will be the jurisdiction to deliver cheaper, cleaner and more reliable energy to the rest of Australia."

    Quotes attributable to Minister for Mining, Mark Monaghan:

    “The Territory Labor Government’s focus is to grow our economy, create working opportunities for Territorians and transition to a cleaner future, and this announcement by Empire Energy provides great confidence in all three.

    “Only last week the Lawler Government announced funding to implement the regional monitoring program in the Sub-Beetaloo Basin, ensuring all progress made is underpinned by strong environmental safeguards.”

    Quotes attributable to Empire Energy Managing Director Alex Underwood:

    “The Empire team is grateful for the support of leading US shale gas players Bryan Sheffield and Liberty Energy, alongside existing and new shareholders, in this capital raise.

    “Bryan and Liberty have a proven track record of responsible development and value creation.

    “The proceeds of this raise will be deployed in the further development in the Beetaloo Basin, in activities supporting NT businesses and local job creation.

    “We appreciate the support of the NT Government to facilitate our activities, and we are committed to sustainably developing the Beetaloo’s substantial natural gas resources.

    “Successful development will enhance the energy security of the NT, as well as potentially putting downward pressure on gas prices, and in the longer term create new supply for eastern Australia and our export markets in Asia.”

    Source: Northern Territory Government newsroom

  • 17 Apr 2024 2:00 PM | Stephanie Berlin (Administrator)

    Central Petroleum has established a share sale facility for holders of small parcels of Central’s shares.
    Shareholders who held less than 8,333 Central shares as at 16 April will soon receive information regarding the operation of the share sale facility. Holders of small parcels will have until 5 June 2024 to notify Central if they wish to retain their shares.
    To read the full release, click here.

    Source: Central Petroleum

  • 17 Apr 2024 10:30 AM | Stephanie Berlin (Administrator)
    • Commitments received from existing and new institutional and sophisticated investors for a strongly supported two-tranche placement to raise $39 million
    • Bryan Sheffield and Liberty Energy Inc (NYSE: LBRT) (“Liberty Energy”) have demonstrated their support for Empire with each investing US$5 million (~A$7.7 million) in the placement
    • Daly Waters, a subsidiary of Formentera Partners (a US based private equity firm founded by Bryan Sheffield) and Liberty Energy have each independently acquired a 2.25% royalty interest in EP187 for US$2.5 million (~A$3.9 million) raising an additional US$5 million (~A$7.7 million)
    • Empire is now funded to drill a 3km fracture stimulated horizontal pilot development well in EP187 and to further progress engineering and preparation for installation of Carpentaria Pilot Project surface facilities
    • Empire anticipates commencement of commercial production and gas sales in 2025
    • Empire Directors have demonstrated their continuing support for Empire by committing to invest an additional $325,000 (subject to shareholder approval)

    Click Here to view the full ASX Announcement 

    Source: Empire Energy Group

  • 17 Apr 2024 8:32 AM | Stephanie Berlin (Administrator)

    Key industry leaders and representatives from Australia, Japan, the Republic of Korea and the United States will gather in Darwin over the next two days to discuss critical mineral production, supply chain resilience and economic security. 

    A huge driver of the economy, the total value of mineral production in the Northern Territory was $4.86 billion last year, with 4,400 people employed within the industry.

    Demand for these critical minerals is projected to rapidly grow with the increasing transition to renewable energy and battery storage, along with the crucial role of these minerals in areas such as medicine and defence.

    The Darwin Dialogue’s mini-lateral and bilateral cooperation on critical minerals and rare earths highlights the opportunities and strategic importance the Northern Territory will play in the critical minerals supply chain for Australia and global partners.

    This summit highlights the opportunities and strategic importance the Northern Territory will play in the critical minerals supply chain for Australia and global partners.

    The demand for critical minerals is expected to continue to grow to support renewable energy, battery storage and high-technology industries.

    This presents significant economic and strategic opportunities for the NT to become a reliable supplier of minerals to support the transition to a decarbonised economy.

    The Darwin Dialogue is convened by the Australian Strategic Policy Institute (ASPI).

    Quotes attributed to Chief Minister Eva Lawler:

    “The Territory Labor Government is creating the working opportunities of the future.”

    “The Darwin Dialogue 2024 is an exclusive Track 1.5 initiative that brings together 60 leaders and key representatives from Australia, Japan, the Republic of Korea, United States, UK and India to discuss critical mineral production, supply chain resilience and economic security.” 

    “The Territory is a key player when it comes to the global supply chains for the critical minerals required for new technologies and the energy transition. This summit cements our position on the national stage.”

    Quotes attributed to Minister for Mining, Mark Monaghan:

    “The Territory Labor Government will always back projects that get Territorians working.”

    “It is clear that the demand for critical minerals is driving this growth in exploration, and as it stand over 4400 Territorians work within the minerals industry.”

    Quotes attributable to Dr John Coyne, Head of the Northern Australia Strategic Policy Centre, ASPI:

    “ASPI is proud to convene the Darwin Dialogue in the Northern Territory. Darwin and the INPEX Ichthys project provides the perfect backdrop for a dialogue on critical minerals, illustrating what is possible when like-minded countries like Japan and Australia work together.

    “The Darwin Dialogue's diverse attendees provide an unprecedented opportunity for open discussion on creating competitive and resilient alternate critical minerals supply chains that commit to the highest ESG standards.”

    Source: Northern Territory Government newsroom

  • 16 Apr 2024 4:53 PM | Stephanie Berlin (Administrator)

    The Territory Labor Government is inspiring the next generation of earth science specialists through the NT’s flagship exploration event.

    The Annual Geoscience Exploration Seminar kicks off in Alice Springs today and more than 60 senior high school students are there exploring careers in Earth Sciences and resources.

    The event provides a unique opportunity for students to interact and gain first-hand knowledge from industry representatives about future job opportunities available in the region.

    They will participate in a range of fun and hands-on activities, attend educational sessions and go on a geology field trip to ANZAC Hill.

    This event is all a part of the Territory Governments efforts to build capability and capacity of the future workforce, particularly in regional areas.

    This development is key to the Territory Labor Government’s plan to help secure sustainable minerals industry development and grow our economy to $40 billion by 2030.

    In 2023, the Northern Territory’s mining sector provided 3,500 direct jobs and generated over $4 billion dollars for the NT economy. Sustainable mining generates rewarding jobs and brings revenue that’s needed to fund schools, hospitals, infrastructure and support community projects.

    Quotes attributable to Minister for Mining and Minister for Education Mark Monaghan:

    “The Territory Labor Government understands not every student knows what they want to do after their schooling life which is why seminars like these are so important.

    “The Northern Territory resources sector is diverse, with careers ranging from engineering, environmental science, geology, geophysics through to trades and technicians.

    “The Territory Government wants to build the capability and capacity of the future workforce. This event is made possible thanks to an innovative industry partnership that includes the Minerals Council of Australia NT, Australian Earth Science Education and Geological Society of Australia working with the NT Government to secure and drive forward the resource sector.”

    Quotes attributable to Cathryn Tilmouth, Executive Director Northern Australia, Mineral Council Australia (MCA)

    “With a growing number of mining and resourcing projects in the pipeline, it is essential to grow a local skilled workforce. This is a shared responsibility for industry, government and educators. 

    This inaugural forum is a fantastic opportunity for industry to directly engage with local students, showcasing what our sector has to offer. MCA looks forward to continuing to grow this forum in the future across the NT."

    Source: Northern Territory Government Newsroom

  • 16 Apr 2024 12:37 PM | Stephanie Berlin (Administrator)

    On 15th April 2024, Desert Knowledge Australia, hosted a launch event to celebrate the end of the Alice Springs Future Grid project and pub­licly launch the Roadmap to 2030.

    The Roadmap is one of the key out­puts from Alice Springs Future Grid, a three-year whole of sys­tem project iden­ti­fy­ing the bar­ri­ers to fur­ther deploy­ment of renew­able ener­gy in the Alice Springs pow­er sys­tem and find­ing solu­tions based on real-world tri­als, inves­ti­ga­tions, and mod­el­ling. It’s led by the Intyal­heme Cen­tre for Future Ener­gy, on behalf of Desert Knowl­edge Aus­tralia (DKA), with project part­ners Ekisti­caCSIRO, Pow­er and Water, Ter­ri­to­ry Gen­er­a­tion and Jacana Energy.

    The Roadmap to 2030 is the product of three years of trials and research carried out by multiple project partners. It pulls together insights from the Alice Springs Future Grid sub-projects and lays out four pathways to achieving 50% renewable generation by 2030.

    To access the Alice Springs Roadmap to 2030 report, download here

    To view the full media release, click here.

  • 15 Apr 2024 4:56 PM | Stephanie Berlin (Administrator)

    Central’s Managing Director and CEO, Leon Devaney has been interviewed on ABC Radio’s Country Hour in the Northern Territory to discuss the evolving NT gas market dynamics following Central’s announcement on Friday that it has agreed to increase gas supply into the NT market.
    To listen to the interview, click here.

    Source: Central Petroleum

  • 15 Apr 2024 4:00 PM | Stephanie Berlin (Administrator)

    Audacia has successfully installed her largest ever PLET in S-mode, concluding several years of in-house engineering, fabrication and testing. The pipeline end termination structure is so heavy, production crew had to install separately to the connector head. And so tall and wide, it only just fit through the tensioners and over the stinger!

    Connecting the Barossa field to the future Darwin Pipeline Duplication

    Audacia and her support team of FortitudeAlegriaFelicity and Fortress are laying the 262-kilometre-long Barossa Gas Export Pipeline (GEP). The 26-inch diameter pipeline will connect the Barossa field development to the future Darwin Pipeline Duplication, transporting natural gas to the Darwin LNG facility in Australia’s Northern Territory.

    Landing the PLET on its mudmat foundations

    Project Manager, Dennis Telders, says “To make it work, we had to come up with a design that worked in S-mode, so over the stinger, as opposed to J-mode, over the side.”

    To prepare for installing the payload, the in-house design was tested extensively last year. The hard work paid off. Offshore crew landed the PLET safely onto its mudmat foundations, installed to pinpoint accuracy earlier in the campaign by Fortitude. A great team effort!

    Source: Allseas

  • 15 Apr 2024 2:31 PM | Stephanie Berlin (Administrator)

    The Territory Labor Government is backing the expansion of the Territory gas industry by investing $2 million each year in the 2024 Budget to conduct a regional monitoring program in the Beetaloo Sub-Basin.

    Natural gas from the Beetaloo will provide work opportunities for thousands of Territorians, secure our energy supplies and deliver a huge boost to local businesses across the Territory. 

    Supporting the gas industry to grow and provide work opportunities to Territorians is another way we are getting the Territory working.  

    The Beetaloo Sub-Basin gas industry has the potential to provide 13,000 jobs by 2040 and increase the Northern Territory’s economic activity by $17 billion.

    The monitoring program will ensure we have the strongest environmental safeguards and will build on the baseline data already collected through the Beetaloo SREBA.

    The program will ensure our gas industry is developed safely and provide transparent, publicly accessible reporting.

    Charles Darwin University will undertake most monitoring activities, including data collection, analysis and public reporting - ensuring Aboriginal engagement, including involvement of ranger groups in data collection.

    Quotes attributable to the Chief Minister Eva Lawler:

    “I’m focused on getting the Territory working and that’s why it’s important to back the natural gas industry and support its growth.”

    “We know that when the gas industry in the Territory grows there will be thousands of new work opportunities for Territorians.”

    “We’re backing the industries that get the Territory working.”

    Quotes attributable to the Minister for Environment, Climate Change and Water Security Kate Worden:

    “We support our gas industry – and this funding will ensure the industry can proceed in an environmentally responsible and safe way.”

    “Establishing our gas industry in the region will be a vital part of growing our economy to $40 billion by 2030 and creating thousands of jobs for Territorians over the next 15 years.”

    Quote attributable to the Minister for Mining Mark Monaghan:

    “Supporting the expansion of our gas industry will help make the Territory an energy powerhouse – and that means more work opportunities for Territorians.”

    Source: Northern Territory Government Newsroom

  • 12 Apr 2024 4:20 PM | Stephanie Berlin (Administrator)

    Cue Energy Resources Limited (ASX: CUE) announces that Central Petroleum Limited (ASX: CTP), the Operator of Cue’s onshore Australian gas production fields, Mereenie, Palm Valley and Dingo, has issued the attached release announcing the execution of a Gas Supply Agreement (GSA) with Power and Water Corporation (PWC) for the supply of as-available gas from the Mereenie field to the end of 2024, and providing an update on the Northern Territory gas market.

    Cue has a 7.5% interest in the Mereenie gas field. Other participants are Central Petroleum (Operator) 25%, Macquarie Mereenie 50% and New Zealand Oil & Gas 17.5% 

    To view the full ASX Announcement, click here

    Source: CUE Energy

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