Exploration & Production
Drillsearch, BG Group Forms JV to Develop Australian Shale
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Drillsearch has formed a strategic joint venture with QGC, a BG Group company, to explore and develop unconventional shale and tight gas resources in the Cooper Basin.
The joint venture involves QGC farming into, and acquiring, a 60% interest in DLS's strategically located ATP 940P covering over 2,000km2 (500,000 acres) of the Central Cooper Basin Nappamerri Trough Shale Gas Fairway.
The agreement places DLS in the unique position in the Cooper Basin of having access to QGC's gas commercialization capacity to support the full scale exploration, appraisal and development of shale and tight gas resources. The Basin is well situated to supply growing gas demand from LNG exports and domestic users in Australia. QGC is currently developing the QCLNG project in Gladstone.
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