Queensland Gives Green Light to Shale Oil Project

From The Wall Street Journal

By David Winning

Australia’s Queensland state said Wednesday that it would allow companies to develop oil deposits trapped in shale rock formations, aiming to tap reserves estimated at more than 20 billion barrels.

Andrew Cripps, Queensland’s natural resources and mines minister, gave the green light to existing shale-oil operator QER Ltd. to move ahead with plans for a commercial operation near Gladstone.

Amid the buzz around Australia’s vast offshore gas fields and unconventional resources such as coal seam gas and shale gas, the country’s potential to grow its oil output has been largely overlooked. Australia’s oil production last year fell by 14.5% to 484,000 barrels a day—its lowest level since 1983—as conventional fields became depleted, according to BP PLC. BP.LN -1.40%

But international oil companies have been planting flags in parts of central Australia where the geology is similar to the Eagle Ford and Horn River regions of the U.S., which have become major production areas for tight oil. They also like the large tracts of land held there by a small number of companies like Central Petroleum Ltd. CTP.AU +4.00% and Canada’s PetroFrontier Corp. PFC.V -1.52%

Tight oil can be freed from shale rock formations with hydraulic fracturing, or “fracking,” technology. Production in these tight oil fields can be boosted quickly when enough capital is invested—a perfect fit for big oil companies with deep pockets and a mandate to extract more oil.

Click here to read more

Add Comment

By posting your comment, you agree to abide by our Posting rules

Text

Comments (20)

  • Mental Health July 13, 2013 at 5:22 am

    whoah this blog is great i love reading your posts. Keep up the good paintings! You know, lots of individuals are searching around for this info, you could aid them greatly.

    Reply
  • homeschooling with your July 16, 2013 at 2:51 pm

    I would like to thank you for the efforts you’ve put in writing this blog. I am hoping the same high-grade site post from you in the upcoming also. In fact your creative writing abilities has inspired me to get my own website now. Actually the blogging is spreading its wings fast. Your write up is a great example of it.

    Reply
  • Cheap Vacation July 17, 2013 at 6:34 pm

    I precisely wanted to appreciate you yet again. I do not know the things that I would’ve gone through without the actual concepts shown by you over my subject. This was a traumatic concern in my opinion, however , viewing your specialized approach you processed it made me to leap for fulfillment. Now i am happier for this advice and as well , expect you recognize what a great job you have been doing teaching people today with the aid of your website. More than likely you’ve never got to know any of us.

    Reply
  • Elementary School July 17, 2013 at 10:54 pm

    Useful info. Lucky me I found your website accidentally, and I’m stunned why this accident did not took place in advance! I bookmarked it.

    Reply
  • Elementary Education July 18, 2013 at 12:38 am

    Hiya, I’m really glad I have found this info. Today bloggers publish just about gossips and web and this is really annoying. A good website with exciting content, this is what I need. Thanks for keeping this web-site, I will be visiting it. Do you do newsletters? Can not find it.

    Reply
  • computer repair July 19, 2013 at 4:56 pm

    you’re in reality a excellent webmaster. The web site loading pace is amazing. It seems that you’re doing any unique trick. Moreover, The contents are masterpiece. you have done a fantastic activity in this matter!

    Reply
  • Muslim Women July 20, 2013 at 2:33 pm

    I just couldn’t leave your site prior to suggesting that I actually loved the standard information a person provide to your visitors? Is going to be back often in order to check out new posts

    Reply
  • Boarding Schools July 21, 2013 at 7:01 pm

    Hi my friend! I wish to say that this article is amazing, great written and include approximately all important infos. I¡¦d like to peer more posts like this .

    Reply
  • Finance degree July 22, 2013 at 1:42 pm

    whoah this blog is wonderful i really like reading your posts. Stay up the great paintings! You realize, many persons are searching around for this info, you can aid them greatly.

    Reply
  • Casual Dresses July 23, 2013 at 9:21 pm

    You really make it appear really easy along with your presentation but I find this matter to be really something that I think I might never understand. It sort of feels too complicated and very huge for me. I’m having a look forward for your next publish, I¡¦ll attempt to get the hang of it!

    Reply
  • Fitness July 24, 2013 at 5:19 am

    you are actually a just right webmaster. The website loading velocity is amazing. It seems that you are doing any unique trick. Furthermore, The contents are masterwork. you’ve done a wonderful job on this topic!

    Reply
  • legal forms July 24, 2013 at 8:27 pm

    Whats Taking place i’m new to this, I stumbled upon this I’ve discovered It positively useful and it has helped me out loads. I’m hoping to give a contribution & assist different users like its aided me. Good job.

    Reply
  • Business Management July 27, 2013 at 4:28 am

    Nice post. I was checking continuously this blog and I’m impressed! Very helpful info particularly the last part :) I care for such info much. I was seeking this particular info for a very long time. Thank you and best of luck.

    Reply
  • travel insurance July 28, 2013 at 12:54 am

    I think this is among the most important info for me. And i’m glad reading your article. But wanna remark on some general things, The website style is ideal, the articles is really great : D. Good job, cheers

    Reply
  • automobile industry July 28, 2013 at 1:23 am

    Thanks for any other great post. The place else could anyone get that type of information in such an ideal approach of writing? I have a presentation next week, and I’m on the look for such information.

    Reply
  • Cocktail Dresses August 1, 2013 at 9:32 am

    You could certainly see your expertise within the paintings you write. The arena hopes for more passionate writers such as you who are not afraid to say how they believe. Always follow your heart.

    Reply
  • green technology August 1, 2013 at 7:55 pm

    fantastic issues altogether, you just gained a emblem new reader. What may you suggest in regards to your post that you made a few days in the past? Any positive?

    Reply
  • Special Occasion Dresses August 3, 2013 at 3:29 am

    I’ve been surfing online greater than three hours today, but I by no means discovered any interesting article like yours. It¡¦s lovely value sufficient for me. In my view, if all web owners and bloggers made just right content as you did, the internet might be a lot more helpful than ever before.

    Reply
  • Wireless Speakers August 5, 2013 at 3:32 am

    Thank you for every one of your labor on this website. My mom loves going through internet research and it’s really obvious why. A number of us know all regarding the compelling form you render simple guidance on your blog and as well inspire response from people on the topic so our favorite simple princess is undoubtedly studying a whole lot. Take pleasure in the rest of the year. You have been performing a pretty cool job.

    Reply
  • Notebook August 6, 2013 at 10:40 pm

    certainly like your website however you need to check the spelling on quite a few of your posts. Many of them are rife with spelling problems and I in finding it very bothersome to inform the truth then again I will definitely come again again.

    Reply

© 2013 Energy Tribune

Scroll to top