Have you ever heard of Australia Exploration Drilling Company? It’s an Australian drilling company specializing in exploring and developing oil, gas, coal bed methane, and other minerals. This article will tell you about several exciting facts that this company has to offer!
Interesting Facts about Australia Exploration Drilling Company
AustraliaExplorationDrillingCompany was founded in 1993 by three geologists who wanted to explore Australia’s vast oil and gas reserves. They were able to get more than $180 million within a month of starting up their company! This drilling company has drilled over 185 wells across several countries, including Indonesia, New Zealand, Papua New Guinea, Vietnam, Syria, Lebanon, and India. Currently, they are developing two projects – one is an offshore exploration project located off the coast of Western Australia called Wanaka. At the same time, the other is an onshore development project known as Doyles Creek near Newcastle NSW. These projects will produce natural gas that can be used for electricity generation or liquefied petroleum gases (LPG) production. Some unique things about AustraliaExplorationDrillingCompany are that they have relocated employees to the country of their projects – Papua New Guinea, Vietnam, and India. They use a high-tech geophysical processing system that can detect oil or gas underground through seismic research. This helps them avoid costly exploration failures as well as provide accurate estimates for future drilling activity costs.
Another thing is exploration drills core samples which provides information on the location’s stratigraphy, paleontology, porosity, permeability, or lithology.
Another interesting fact would be drill industry has increased since 2016, with over 20 new licenses being awarded in 2017 alone due to its vast coal reserves and natural resources such as iron ore and petroleum.
The oil companies are constantly looking for new ways to find fuel and improve their production rates with a more efficient way of finding it. In explorer drill history, they have been using seismic technology, mud logging, or harmful testing methods.
One interesting fact about Australia Exploration Drilling Company would be that Richfield Oil Company built Australia’s first offshore drilling rig in 1919 at the cost of USD 500,000. It was an oil rig that could drill both onshore and offshore.
Another fact would be that in Australia, the first commercial production of natural gas occurred in 1859 when it was discovered at a depth of around one mile beneath the seabed near Adelaide. The company responsible for finding this resource announced having found 29 billion cubic meters worth of shale gas underneath the Bass Strait. Natural Gas is now being extracted from below 500 feet deep waters through exploration wells usually drilled by rigs like jackup or semi-submersible drilling vessels.
We hope this information has been helpful to you. You may contact an expert in the area for additional information.
