Green Car Congress  
Go to GCC Discussions forum About GCC Contact  RSS Subscribe Twitter headlines

« Study projects regional climate effects from ramping up Brazil sugarcane production | Main | Stanford study quantifies energetic costs of grid-scale energy storage over time; current batteries the worst performers; the need to improve cycle life by 3-10x »

Print this post

Report: Some 70 companies trying to partner with Linc Energy on developing massive Australian shale oil prospects

10 March 2013

Bloomberg reports that Linc Energy Ltd. (LNC) said it has been contacted by about 70 companies—from North America to India—to fund the development of the massive Arckaringa Basin shale oil prospects that it announced in January 2013. Linc is working with Barclays Bank to introduce a joint venture partner that has shale oil expertise and will fund the development of the Arckaringa Basin assets.

On 23 January, Linc announced that two separately commissioned and independent reports from DeGolyer and MacNaughton (D&M) and Gustavson confirmed the resource potential of the three formations of the Arckaringa Basin (the Stuart Range, Boorthanna and Pre-Permian).

  • Gustavson estimated the unrisked prospective resources for unconventional reservoirs in the Arckaringa Basin to be 233 billion barrels of oil equivalent (233 BBOE).

  • D&M estimated the resources to be 103 billion barrels oil equivalent (103 BBOE).

Linc
Click to enlarge.

The analyses indicate that the Stuart Range formation and the underlying Boorthanna and Pre-Permian formations are rich in oil and gas-prone kerogen that may form the basis of a new liquids-rich shale play.

Linc said that the conclusions presented by D&M and Gustavson are consistent its view that formations within the Arckaringa Basin have excellent resource play potential with total organic carbon (TOC) levels, permeability, porosity and thickness that compare favorably to prolific US unconventional liquids plays such as the Bakken and Eagle Ford.

Linc2
Source: Linc Energy. Click to enlarge.

The two firms dealt with the unconventional resources of the three formations within the Arckaringa Basin in different ways. Gustavson considered the data gathered to date and assigned the prospective resources in all three formations to the “oil generation window” of thermal maturity but acknowledged the potential for gas in the deeper parts of the basin.

Gustavson also identified the potential for conventional hydrocarbon resources while working with the data presented. The Gustavson report includes prospective resource estimates for a portion of the deeper parts of the Arckaringa basin. These estimates provide strong encouragement that the balance of the basin may also be prospective for conventional hydrocarbon deposits and suggests that additional work on conventional resource potential is justified.

D&M assigned gas-liquids ratios to the various depth intervals in each formation resulting in estimation of prospective resources of oil in the shallower depths and gas in the greater depths. D&M was also commissioned to provide a risked estimate of prospective resources by applying a probability of geologic success.

Linc Energy Petroleum licences cover the majority of the Arckaringa Basin, amounting to more than 16 million contiguous acres throughout the basin.

March 10, 2013 in Brief | Permalink | Comments (1) | TrackBack (0)

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4fbe53ef017c377c722f970b

Listed below are links to weblogs that reference Report: Some 70 companies trying to partner with Linc Energy on developing massive Australian shale oil prospects:

Comments

Onshore, off - both map?

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Green Car Congress © 2014 BioAge Group, LLC. All Rights Reserved. | Home | BioAge Group