Advent's RL1 Project in Australia's NT to Gain from Infrastructure Project

MEC Resources Ltd. reported Thursday that its oil and gas exploration unit Advent Energy Ltd.'s 100 percent owned RL1 (Weaber Gas Field) Project in Australia's Northern Territory will potentially benefit from a government infrastructure funding program in the state, according to a press release.

The firm indicated that Australian Prime Minister Malcolm Turnbull's Coalition Campaign Headquarters has announced that the Keep River Road will benefit from a funding package to boost important freight and economic infrastructure upon the current government's re-election. Keep River Road was named as a funding recipient due to its proximity to the Project Sea Dragon aquaculture development, for which Advent Energy has entered into a Letter of Intent to supply gas from its RL1 project's Weaber-4 well which has been cased and suspended as a future producer.

Independent third party assessment estimated that the Weaber Gas Field (RL1) in the Bonaparte Basin contains a 2C Contingent Resource of 11.5 billion cubic feet (Bcf), while 1C and 3C are assessed at 0.3 Bcf and 45.8 Bcf, respectively.

Advent Energy's key shareholders are MEC Resources, BPH Energy, Talbot Group and Grandbridge.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Report: Hiring Managers See Salaries S... (Mar 23)
 -  Repsol Chooses Atlas for Onshore, Offs... (Mar 23)
 -  OGA Awards 25 Licences for 111 UKCS Bl... (Mar 23)
 -  UK Minister Brands Oil Worker Discrimi... (Mar 23)
 -  Analyst Sees Possible Crest for US Gas... (Mar 22)


Most Popular Articles

From the Career Center
Jobs that may interest you
Health & Safety Compliance Specialist III
Expertise: Environmental, Safety & Training|HSE Manager / Advisor|Regulatory Compliance
Location: Ignacio, CO
 
United States Odessa: Engineer - Frac/Acid
Expertise: Petroleum Engineering
Location: Odessa, TX
 
US Kilgore, TX: Transportation Foreman
Expertise: Logistics Management
Location: Kilgore, TX
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours