Southern Canning Project
Size: 48,000km² (11 million gross acres)
Ownership: 100% New Standard Energy
Operator: New Standard Onshore Pty Ltd
Targets: Liquids rich shale gas (principal), shale gas
Location: Canning Basin, Western Australia. (Great Sandy Desert, East of Port Hedland)
The Southern Canning Project spans the largest and most prospective sections of the Goldwyer formation in the Canning Basin. In a review of world shale gas resources, the United States Department of Energy’s Energy Information Administration estimated the Goldwyer shale contained 764Tcf of risked gas in place and 229Tcf of risked recoverable gas – the largest estimate placed on any basin in Australia.
The Company will initially target three locations in a wet gas window within the Goldwyer formation, which was identified by the New Standard exploration team. The initial exploration program is aimed at proof of concept and assuming success, will be followed by further evaluation and appraisal of the play.
New Standard’s acreage is well positioned to host the Goldwyer formation in maturity windows from the bottom of the oil window down into the dry gas window – which is where the sweetest acreage in the attractive Eagle Ford shale play in North America is located.
The Goldwyer formation has attractive shale gas properties including:
- blanket marine shale of Ordovician age
- black to dark grey shales and claystones with inter-bedded silty intervals
- four distinct units with total thickness of between 200m and 700m
- depths to top of the Goldwyer range from 1,000m to 3,000m
- appropriate maturity, TOC levels and free gas
The Canning Basin is currently experiencing unprecedented levels of exploration activity and as a result, infrastructure is emerging in the region.