Blue Energy, Beach Energy Awarded Two Gas Blocks in Queensland

Blue Energy Limited in conjunction with its JV partner Beach Energy has been granted two exploration tenements, ATP674P and ATP733P, in Queensland’s Maryborough Basin.  

Blue Energy is farming into the three Maryborough Basin permits and holds, subject to completing the farm-in work program, a 75% interest and is operator of the farmin work program.

These permits lie within the Maryborough Basin which is located in the Maryborough – Bundaberg region of Queensland and is approximately 150km south of the developing Gladstone export LNG hub and 200km north of Brisbane.

“The Joint Venture parties believe the Maryborough Basin is prospective for natural gas, and the grant of these two permits will initiate the exploration process in search of commercial quantities of gas,” a statement by Blue Energy said.  

Whilst it is currently unclear as to the potential size of any gas resource within the Maryborough Basin, the principle elements of a significant shale gas resource have been independently recognised, the statement said.  The US Energy Information Agency (EAI) has judged that the Maryborough Basin contains the necessary components to host a valid shale gas source and identified a risked recoverable resource of 23 Trillion Cubic Feet (TCF).