Dropping in: Origin has taken a 100% stake in the Halladale and Black Watch fields off Victoria
Origin buys out Victoria gas fields
Australia’s Origin Energy has bought Woodside Petroleum’s 62.5% stake in the VIC/P37(V) exploration permit off the Victoria Coast for A$13.6 million (US$12.2 million), giving it a 100% stake in the block’s Halladale and Black Watch gas and condensates fields.
Origin said the fields lay only four to five kilometres offshore and might be reached by extended-reach directional drilling from the shore, allowing it to be tied into existing pipeline in south-western Victoria.
Origin managing director Grant King said the small fields could potentially be used for gas storage once depleted.