AWE Seeks Partners for Perth Basin Shale

AWE is seeking a partner with funding ability and shale gas experience for its Perth Basin shale assets.

AWE has appointed Citigroup to assist with efforts to farm-out its shale gas assets, with managing director Bruce Clement saying that the company was looking to complete the farm-out in the current half-year.

On the drilling front, AWE is planning to drill Arrowsmith-2, which will twin an existing well, and carry out fracture stimulation of both this well and the existing Woodada Deep-2 well.

Clement said the two fracs would provide good points to determine the performance of the shales in the Perth Basin, adding he was very positive about the prospects there.

Source: Petroleum News