New oil and gas exploration data is an urgent wake-up call

Recent articles


Tweets

16 November 17, 11:45am APPEA CEO Malcolm Roberts addresses the APPEA Taxation & Commercial Conference in Glenelg, South Australia today https://t.co/KwtNGbgnH7
array(25) { ["created_at"]=> string(30) "Thu Nov 16 01:45:29 +0000 2017" ["id"]=> int(930975074642829312) ["id_str"]=> string(18) "930975074642829312" ["text"]=> string(194) "APPEA CEO Malcolm Roberts addresses the APPEA Taxation & Commercial Conference in Glenelg, South Australia today https://t.co/KwtNGbgnH7" ["truncated"]=> bool(false) ["entities"]=> array(5) { ["hashtags"]=> array(0) { } ["symbols"]=> array(0) { } ["user_mentions"]=> array(0) { } ["urls"]=> array(0) { } ["media"]=> array(1) { [0]=> array(10) { ["id"]=> int(930975033752567808) ["id_str"]=> string(18) "930975033752567808" ["indices"]=> array(2) { [0]=> int(117) [1]=> int(140) } ["media_url"]=> string(46) "http://pbs.twimg.com/media/DOt83FWUQAA6ieG.jpg" ["media_url_https"]=> string(47) "https://pbs.twimg.com/media/DOt83FWUQAA6ieG.jpg" ["url"]=> string(23) "https://t.co/KwtNGbgnH7" ["display_url"]=> string(26) "pic.twitter.com/KwtNGbgnH7" ["expanded_url"]=> string(62) "https://twitter.com/APPEALtd/status/930975074642829312/photo/1" ["type"]=> string(5) "photo" ["sizes"]=> array(4) { ["large"]=> array(3) { ["w"]=> int(663) ["h"]=> int(641) ["resize"]=> string(3) "fit" } ["thumb"]=> array(3) { ["w"]=> int(150) ["h"]=> int(150) ["resize"]=> string(4) "crop" } ["medium"]=> array(3) { ["w"]=> int(663) ["h"]=> int(641) ["resize"]=> string(3) "fit" } ["small"]=> array(3) { ["w"]=> int(663) ["h"]=> int(641) ["resize"]=> string(3) "fit" } } } } } ["extended_entities"]=> array(1) { ["media"]=> array(1) { [0]=> array(10) { ["id"]=> int(930975033752567808) ["id_str"]=> string(18) "930975033752567808" ["indices"]=> array(2) { [0]=> int(117) [1]=> int(140) } ["media_url"]=> string(46) "http://pbs.twimg.com/media/DOt83FWUQAA6ieG.jpg" ["media_url_https"]=> string(47) "https://pbs.twimg.com/media/DOt83FWUQAA6ieG.jpg" ["url"]=> string(23) "https://t.co/KwtNGbgnH7" ["display_url"]=> string(26) "pic.twitter.com/KwtNGbgnH7" ["expanded_url"]=> string(62) "https://twitter.com/APPEALtd/status/930975074642829312/photo/1" ["type"]=> string(5) "photo" ["sizes"]=> array(4) { ["large"]=> array(3) { ["w"]=> int(663) ["h"]=> int(641) ["resize"]=> string(3) "fit" } ["thumb"]=> array(3) { ["w"]=> int(150) ["h"]=> int(150) ["resize"]=> string(4) "crop" } ["medium"]=> array(3) { ["w"]=> int(663) ["h"]=> int(641) ["resize"]=> string(3) "fit" } ["small"]=> array(3) { ["w"]=> int(663) ["h"]=> int(641) ["resize"]=> string(3) "fit" } } } } } ["source"]=> string(66) "Twitter Web Client" ["in_reply_to_status_id"]=> NULL ["in_reply_to_status_id_str"]=> NULL ["in_reply_to_user_id"]=> NULL ["in_reply_to_user_id_str"]=> NULL ["in_reply_to_screen_name"]=> NULL ["user"]=> string(8) "APPEALtd" ["geo"]=> NULL ["coordinates"]=> NULL ["place"]=> NULL ["contributors"]=> NULL ["is_quote_status"]=> bool(false) ["retweet_count"]=> int(1) ["favorite_count"]=> int(3) ["favorited"]=> bool(false) ["retweeted"]=> bool(false) ["possibly_sensitive"]=> bool(false) ["lang"]=> string(2) "en" }
by APPEALtd
15 November 17, 9:14am IEA forecasts #natgas to increase its share of global energy mix in coming decades. Australian gas can boost energy… https://t.co/Sn2w2Egcgw
array(24) { ["created_at"]=> string(30) "Tue Nov 14 23:14:42 +0000 2017" ["id"]=> int(930574741072519170) ["id_str"]=> string(18) "930574741072519170" ["text"]=> string(265) "IEA forecasts #natgas to increase its share of global energy mix in coming decades. Australian gas can boost energy… https://t.co/Sn2w2Egcgw" ["truncated"]=> bool(true) ["entities"]=> array(4) { ["hashtags"]=> array(1) { [0]=> array(2) { ["text"]=> string(6) "natgas" ["indices"]=> array(2) { [0]=> int(14) [1]=> int(21) } } } ["symbols"]=> array(0) { } ["user_mentions"]=> array(0) { } ["urls"]=> array(1) { [0]=> array(4) { ["url"]=> string(23) "https://t.co/Sn2w2Egcgw" ["expanded_url"]=> string(51) "https://twitter.com/i/web/status/930574741072519170" ["display_url"]=> string(29) "twitter.com/i/web/status/9…" ["indices"]=> array(2) { [0]=> int(117) [1]=> int(140) } } } } ["source"]=> string(66) "Twitter Web Client" ["in_reply_to_status_id"]=> NULL ["in_reply_to_status_id_str"]=> NULL ["in_reply_to_user_id"]=> NULL ["in_reply_to_user_id_str"]=> NULL ["in_reply_to_screen_name"]=> NULL ["user"]=> string(8) "APPEALtd" ["geo"]=> NULL ["coordinates"]=> NULL ["place"]=> NULL ["contributors"]=> NULL ["is_quote_status"]=> bool(false) ["retweet_count"]=> int(0) ["favorite_count"]=> int(0) ["favorited"]=> bool(false) ["retweeted"]=> bool(false) ["possibly_sensitive"]=> bool(false) ["lang"]=> string(2) "en" }
by APPEALtd
9 November 17, 11:53am Qld Govt plans for future gas exploration block releases are positive. But gas industry remains concerned about the… https://t.co/lVscjIzC02
array(24) { ["created_at"]=> string(30) "Thu Nov 09 01:53:28 +0000 2017" ["id"]=> int(928440369326432258) ["id_str"]=> string(18) "928440369326432258" ["text"]=> string(196) "Qld Govt plans for future gas exploration block releases are positive. But gas industry remains concerned about the… https://t.co/lVscjIzC02" ["truncated"]=> bool(true) ["entities"]=> array(4) { ["hashtags"]=> array(0) { } ["symbols"]=> array(0) { } ["user_mentions"]=> array(0) { } ["urls"]=> array(1) { [0]=> array(4) { ["url"]=> string(23) "https://t.co/lVscjIzC02" ["expanded_url"]=> string(51) "https://twitter.com/i/web/status/928440369326432258" ["display_url"]=> string(29) "twitter.com/i/web/status/9…" ["indices"]=> array(2) { [0]=> int(117) [1]=> int(140) } } } } ["source"]=> string(66) "Twitter Web Client" ["in_reply_to_status_id"]=> NULL ["in_reply_to_status_id_str"]=> NULL ["in_reply_to_user_id"]=> NULL ["in_reply_to_user_id_str"]=> NULL ["in_reply_to_screen_name"]=> NULL ["user"]=> string(8) "APPEALtd" ["geo"]=> NULL ["coordinates"]=> NULL ["place"]=> NULL ["contributors"]=> NULL ["is_quote_status"]=> bool(false) ["retweet_count"]=> int(2) ["favorite_count"]=> int(4) ["favorited"]=> bool(false) ["retweeted"]=> bool(false) ["possibly_sensitive"]=> bool(false) ["lang"]=> string(2) "en" }
by APPEALtd
8 November 17, 11:05am 3-month delay to NT fracking inquiry's final report threatens Territory jobs and investment #ntpol https://t.co/xTfUmIZgyq
array(24) { ["created_at"]=> string(30) "Wed Nov 08 01:05:49 +0000 2017" ["id"]=> int(928065991145283585) ["id_str"]=> string(18) "928065991145283585" ["text"]=> string(245) "3-month delay to NT fracking inquiry's final report threatens Territory jobs and investment #ntpol https://t.co/xTfUmIZgyq" ["truncated"]=> bool(false) ["entities"]=> array(4) { ["hashtags"]=> array(1) { [0]=> array(2) { ["text"]=> string(5) "ntpol" ["indices"]=> array(2) { [0]=> int(92) [1]=> int(98) } } } ["symbols"]=> array(0) { } ["user_mentions"]=> array(0) { } ["urls"]=> array(1) { [0]=> array(4) { ["url"]=> string(23) "https://t.co/xTfUmIZgyq" ["expanded_url"]=> string(75) "https://www.appea.com.au/media_release/inquiry-delay-threatens-nt-gas-jobs/" ["display_url"]=> string(30) "appea.com.au/media_release/…" ["indices"]=> array(2) { [0]=> int(100) [1]=> int(123) } } } } ["source"]=> string(66) "Twitter Web Client" ["in_reply_to_status_id"]=> NULL ["in_reply_to_status_id_str"]=> NULL ["in_reply_to_user_id"]=> NULL ["in_reply_to_user_id_str"]=> NULL ["in_reply_to_screen_name"]=> NULL ["user"]=> string(8) "APPEALtd" ["geo"]=> NULL ["coordinates"]=> NULL ["place"]=> NULL ["contributors"]=> NULL ["is_quote_status"]=> bool(false) ["retweet_count"]=> int(0) ["favorite_count"]=> int(1) ["favorited"]=> bool(false) ["retweeted"]=> bool(false) ["possibly_sensitive"]=> bool(false) ["lang"]=> string(2) "en" }
by APPEALtd

The release of new Australian Bureau of Statistics petroleum exploration expenditure data for 2015-16 is an urgent wake-up call for governments and industry.

APPEA Chief Executive Dr Malcolm Roberts said the 2015-16 data confirms that oil and gas exploration – onshore and offshore – is in free fall.

“Over the last two years, spending on onshore and offshore exploration has fallen by almost two-thirds,” he said.

“While some of this fall reflects lower costs, exploration activity is undeniably at its lowest levels for many years. The number of exploration wells drilled offshore is at its lowest level in almost 20 years; onshore drilling is at its lowest level in 15 years.

“The latest data continues a worrying trend that has been evident for many years, even when commodity prices were much higher. If the slide in exploration continues, Australian gas users will face more uncertainty about future supply and higher gas prices.

“APPEA welcomes the Commonwealth initiative to examine the exploration and development framework through the Offshore Resource Management Review. We especially welcome the focus on frontier regions and less-explored areas that may offer significant untapped potential.

“The $100 million in new funding for Geoscience Australia, announced in the last federal budget, is also a very important initiative.

“The recent Council of Australian Governments’ Energy Council meeting highlighted the urgent need to develop new gas reserves, given the likely supply shortfall in 2019. Production from the key basins in South Australia and offshore Victoria will begin to fall from 2017.

“We must find and develop new supplies of gas to offset falling output from Australia’s long-established gas fields.

“The latest exploration data is just one more reason to reject bans on onshore gas exploration or hydraulic fracturing.”