Falcon seeks second Beetaloo partner

Seeking: Falcon looks for help in Beetaloo basin

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By Staff & news wires

 08 March 2012 19:33 GMT

Falcon Oil & Gas, an explorer planning to drill shale prospects in Australia with US giant Hess, said it is "open to the idea" of forming a second partnership to develop about 10% of its acreage in the country, according to a report.

Falcon is seeking a shale specialist to fund exploration in two areas spanning about 700,000 acres of the Beetaloo basin, chief executive Robert Macaulay told Bloomberg.

The company owns permits covering 7 million acres in the basin in the Northern Territory, according to its website.

The oil and gas explorer, which holds almost 15 million acres in three projects in Australia, Hungary and South Africa, agreed to a venture with New York-based Hess last year to develop three blocks in Beetaloo.

Hess, ConocoPhillips, BG Group and Mitsubishi have agreed to fund shale gas exploration…

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