New Standard Energy has a strong, growing and diversified portfolio comprising of projects in the United States and Australia. The Company has a production and development project in the Eagle Ford shale in Texas, US as well as a range of exploration projects in Australia, located in the Cooper Basin in South Australia and the Canning and Carnarvon Basins in Western Australia.
Each project provides exposure to a different geological environment, stage of project development, and path to commercialisation, creating an inherently diverse mix of projects and risk. With the potential for liquids rich gas and large acreage positions, New Standard is well placed and enthusiastic about the potential of future drilling programs to accelerate the maturation of the project portfolio.
The Australian portfolio is complemented by a low risk exploration and development project situated in the Eagle Ford shale region in Atascosa County, Texas, as well as a small interest in a prospect in Colorado County, Texas. With five current producing wells, the Atascosa County Project has low risk appraisal and development opportunities with the benefit of short term cashflow and manageable well costs. Operated on behalf of New Standard by strategic alliance partner Magnum Hunter Resources Corporation.
New Standard continues to identify and evaluate additional opportunities of technical merit that fit its investment criteria and business model to ensure a healthy project pipeline exists for continued value creation.