WA shale ambitions take hit as Conoco exits
ConocoPhillips, dissatisfied with results from initial drilling, has exited all its Australian onshore shale exploration in a further blow to the early-stage shale exploration sector.
US major ConocoPhillips has exited all its onshore shale exploration ground in Australia after being dissatisfied with results from initial drilling, in what is a further blow to the early stage shale exploration sector in the country.
The decision to withdraw from the Southern Canning Basin joint venture with New Standard Energy “was reached following a review of results from the initial drilling in context of our overall global portfolio", said Conoco’s vice-president exploration and development, Frank Krieger .
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