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2014-09-18 17:45:00

AUSTRALIA: HUGE GAS DISCOVERY

AUSTRALIA: HUGE GAS DISCOVERY

Australian energy company AWE Ltd. said Thursday it may have made the largest onshore natural-gas discovery in Western Australia for 50 years, in partnership with Origin Energy Ltd. 

The Waitsia field could contain more than one trillion cubic feet of natural gas, AWE said, following an initial analysis of the recently drilled Senecio-3 well. The assessment helped to send shares in Melbourne-based AWE up 14%.

Australia has long been a hot spot for oil and gas exploration, and international companies including Chevron Corp. and Royal Dutch Shell PLC are investing billions to build export facilities following…

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Tags: AUSRTALIA, GAS, AWE, ORIGIN, CHEVRON, SHELL, APACHE,
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