Exploration/Development Briefs

08/26/2013
Australia Shell Development (Australia) Pty. Ltd. will earn a 50% interest in and become operator of the AC/P 52 permit in the northern Browse basin offshore Western Australia under a farmout from Finder Exploration Pty. Ltd., private Perth independent. Shell will earn its interest through cash payments and funding a percentage of drilling costs of the Cronus-1 exploratory well up to an agreed cap. Shell is to drill the well in 2015. Cronus, north of and along trend with Poseidon, Ichthys, and Prelude gas fields, is a multi-tcf gas prospect that was matured using the Cartier West multiclient 3D seismic data set. Finder said it sees multiple potential routes to commercialization if Cronus ...
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