MEO Australia: 4 Companies Interested in Beehive Farm-Out Deal
MEO Australia Limited revealed Monday that four substantial companies have engaged in a farmout process for the Beehive prospect and are actively reviewing the technical data for WA-488-P.
MEO is currently trying to secure funding partners to progress the technical assessment of, and ultimately drill, the Beehive prospect offshore Australia. The company is seeking responses from the potential farm-in partners by the end of October, however timing remains subject to ongoing market conditions and the addition of any new parties to the process.
“In the current environment it is encouraging that four companies have actively engaged in the farm-out process so far,” said MEO Managing Director and CEO Peter Stickland.
“MEO’s ambition is to bring parties into the WA-488-P joint venture to fund the advancement and ultimately drilling of Beehive. Doing so would not only secure an exciting drilling opportunity for MEO shareholders, but enable MEO to focus its resources on its Cuba opportunities where it is the only ASX listed company with exposure to the Cuban oil and gas industry,” he added.
WHAT DO YOU THINK?
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.
- Gunvor CEO Sees Russian Refining Capacity Taking Hit from Drone Strikes
- Sinopec Engineering Posts Higher Annual Petrochemicals Revenue
- Subsea7 Secures Contract to Service Woodside's Trion
- These Factors Helped Brent Oil Price Break Above $85
- Imperial Pipeline in Winnipeg Goes Offline for Three Months
- Adnoc Inks Supply Deal for Ruwais LNG Project with Germany's SEFE
- Gaz System to Acquire Gas Storage Poland
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Rystad Looks at the Buzz Around White Hydrogen
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension