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    Bloomberg: Outback Australia’s Cooper Basin Set for Wave of Shale Deals

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Summary

Australia’s Cooper Basin, an outback shale region that’s lured investments from Chevron Corp. and BG Group Plc, is set for a flurry of mergers and acquisitions, according to oil and gas explorer New Standard Energy Ltd.

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Bloomberg: Outback Australia’s Cooper Basin Set for Wave of Shale Deals

Australia’s Cooper Basin, an outback shale region that’s lured investments from Chevron Corp. and BG Group Plc, is set for a flurry of mergers and acquisitions, according to oil and gas explorer New Standard Energy Ltd.

“There’s another wave of rationalization to happen over the next six to 12 months,” Phil Thick, managing director of the Perth-based energy company, said yesterday in a phone interview. “Everybody is talking in the Cooper Basin.”

Shale explorers in the Cooper Basin are seeking to benefit from a forecast tripling in demand for natural gas on the east coast, driven by more than $60 billion in export projects in Queensland state. Beach Energy Ltd., Senex Energy Ltd. and Drillsearch Energy Ltd. are potential takeover targets, Commonwealth Bank of Australia said in a January report. MORE

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