Where is the Otway Basin?
South Australia
The Otway Basin is an onshore and offshore basin which extends approximately 500 kilometres from Cape Jaffa in South Australia to north-west Tasmania.
Where are oil rigs located in Australia?
There are now 23 offshore platforms and installations in Bass Strait, including the new Marlin B platform and Kipper subsea wells, which feed a network of 600km of underwater pipelines and keep the oil and gas flowing, 24 hours a day.
How did the otways form?
Late Jurassic to Early Cretaceous rifting resulted in the east-west trending Inner Otway Basin. Late Cretaceous rifting, culminating in continental breakup in the Maastrichtian, produced northwest-southeast trending depocentres beneath the outer shelf and slope.
What does Beach Energy do?
Beach Energy is an ASX listed, oil and gas exploration and production company headquartered in Adelaide, South Australia. Beach’s purpose to ‘sustainably deliver energy for communities’ means we operate while maintaining the highest health, safety and environmental standards. East Coast gas market.
What are the otways named after?
The cape was charted by the British when Lieutenant James Grant sailed through Bass Strait in the Lady Nelson in December 1800. Grant named it Cape Albany Otway after Captain William Albany Otway.
Is Beach Energy a buy?
Specifically, 14 analysts — or around 74% of the list — reckon that Beach Energy is a buy, while just 3 have it as a hold and 2 as a sell. According to the list, the consensus price target for the next 12 months is $1.64, implying an upside potential of 35% at the time of writing.
What is the Otway Basin geology?
Geological Summary. The Late Jurassic-Cenozoic Otway Basin is a large, northwest trending on/offshore basin on the southern Australian passive margin. Exploration is mature onshore and immature offshore, with >200 wells in South Australia, Victoria and Tasmania.
How many oil and gas wells are there in Otway Basin?
More than 100 oil and gas wells have been drilled in the Onshore Otway Basin, with the first exploration well drilled in the South East in 1880’s Beach is a supporter of local industry – more than $1.4 million was spent on procuring local goods and services during the drilling of Haselgrove-3
What is the Otway offshore project?
The Otway Offshore Project will ensure ongoing production at the Otway Gas Plant, which supplies natural gas to Victoria.
Where is the Otway Gas Plant?
The Otway Gas Plant is located near Port Campbell in south west Victoria. It started processing natural gas piped from the Geographe and Thylacine offshore production wells in 2006. In August 2016, natural gas was successfully extracted from the Halladale, Black Watch and Speculant gas fields.