South Australia Cooper Basin Joint Venture

From MoxyWiki

The South Australia Cooper Basin Joint Venture (SACBJV) produces crude oil, natural gas and petroleum liquids from the 'SA Fixed Factor Area' of the Cooper Basin, centred on Moomba in northern South Australia.

According to PIRSA, the South Australia Cooper Basin Joint Venture comprises PPLs 6-20, 22-61 and 63-167, 169-201 and PLs 5, 9 and 15^[1].

According to the Beach Energy Limited annual report 2009, the SA Fixed Factor Area comprises PPLs 6-20, 21-61, 63-75, 78-117, 119, 120, 124, 126-130, 132-135, 137-141, 143-146, 148-151, 153-155, 157, 159-166, 169-181, 183-186, 188-190, 192, 193, 195, 196, 198 and 199^[2].

According to the Santos Limited annual report 2009, the Cooper Basin (Fixed Factor Area) comprises PPLs 6-20, 22-25, 27, 29-33, 35-48, 51-61, 63-70, 72-75, 78-81, 83-84, 86-92, 94-95, 98-111, 113-117, 119, 120, 124, 126-130, 132-135, 137-140, 144-146, 148-151, 153-155, 159-166, 169, 171, 174-181, 184-186, 190, 192, 193, 195, 196, 199, 228 & 230-238^[3]

The SACBJV is made up of 11 companies^[4]:

• Santos Limited
• Alliance Petroleum Australia Pty Ltd¹
• Bridge Oil Developments Pty Ltd¹
• Reef Oil Pty Ltd¹
• Santos BOL Pty Ltd¹
• Vamgas Pty Ltd¹
• Basin Oil Pty Ltd^1,4,5
• Boral Energy Resources Limited⁶
• Delhi Petroleum Pty Ltd ^2,3
• Gulf (Aust) Resources NL⁷

Notes:

1. A wholly owned subsidiary of Santos
2. Delhi Petroleum Pty Ltd, effective 1 July, 2006, was acquired by Beach Petroleum Limited, which acquired the Delhi Petroleum Group of companies for $574 million. The transaction was effected by Beach Petroleum’s acquisition of the total issued capital of Australian Petroleum Investments Pty Ltd (API) for $44 million. API owns Delhi Petroleum Pty Ltd (Delhi), which is the owner of a 21% interest in the Cooper Basin Joint ventures^[5]. There are more than 200 oil and gas fields in the Cooper/Eromanga Basins of South Australia and Queensland and the acquisition triples Beach’s reserves from 36 million barrels of oil equivalent to 95 million boe^[6].
3. Beach Petroleum Limited changed its name to Beach Energy Limited on 9 December 2009^[7].
4. Basin Oil Pty Ltd was previously known as Basin Oil NL^[8]
5. On 1 January 2005 Santos acquired Basin Oil Pty Ltd (Basin Oil), which held all of OMV Petroleum Pty Ltd’s (OMV) Gippsland Basin and Cooper Basin assets^[9].
6. The name of Boral Energy Resources Limited was changed to Origin Energy Resources Limited on 23-2-2000, a consequence of the demerger of Boral Limited^[10]. Origin Energy Resources Limited is a subsidiary of Origin Energy Limited.
7. Gulf Resources NL was delisted from the Australian Securities Exchange on 11-7-1990 following a scheme of arrangement.

Figure 3: Interests of ultimate owner entities in South Australia Cooper Basin Joint Venture 2010

Entity	Interest
Santos (operator)	66.6%
Beach Energy Limited	20.21%
Origin Energy Ltd	13.19%

Santos Limited owns 66.1% of the SACBJV^[11] and is the operator of the joint venture.

Annual reports for the SACBJV are available on the PIRSA web site^[12].

References

1. ↑ PIRSA web site - PPL annual reports
2. ↑ link Beach Energy Limited annual report 2009pg 31
3. ↑ Santos Limited annual report 2009pg 38
4. ↑ South Australia Cooper Basin Joint Venture: Environmental Impact Report: Production and processing operations
5. ↑ Beach Petroleum Limited annual report 2006pg 7
6. ↑ APPEA news archives
7. ↑ Beach Energy Limited web site - announcements
8. ↑ ASIC web site
9. ↑ Santos announcement to ASX 17 February 2005
10. ↑ ASIC web site
11. ↑ Santos Limited annual report 2008 pg 111
12. ↑ PIRSA web site - SACBJV