ConocoPhillips (COP)

KAROON Gas Australia has confirmed it has struck hydrocarbons at the latest well in its Browse Basin drilling campaign with partner ConocoPhillips.
The news comes two weeks after a person familiar with the drilling campaign told Dow Jones Newswires that the well had penetrated hydrocarbons in similar intervals to those in the successful Poseidon-1 well about 6km away. A large gas pay at Poseidon-2 will provide further evidence that Karoon and ConocoPhillips are sitting on a resource off Western Australia big enough to support a multi-billion-dollar liquefied natural gas development.

Dec 31 · 3:37:00 PM · Source: The Australian
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by Michael Oliveto