BG Group Makes Play for Australian Shale Gas

BG Group has made its first shale gas investment in Australia, entering into a strategic joint venture with Drillsearch Energy Ltd., to explore and develop unconventional shale and tight gas resources in the Cooper Basin.

QGC, a BG Group company, is committing to a five year $130 million three stage exploration and pilot production appraisal program to acquire a to a 60% interest in Drillsearch's  ATP 940P concession covering over 2,000km2 (500,000 acres) of the Central Cooper Basin Nappamerri Trough Shale Gas Fairway.

QGC is a leading Australian coal seam gas explorer and producer and is currently developing the QCLNG project in Gladstone.

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