28 Jan 2010drilling progress report● Neutral
Innamincka (5%) forwarded Origin's 28 January Rockhopper 1 sidetrack update: drilled to 3,196m, about to core. Duplicate of the operator's release.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Jan 2010drilling progress report● Neutral
Beach's weekly report showed Santos-operated Coonatie-17 (Origin 10.54%) drilling ahead at 2,388m. Chi-1 (no Origin interest) was at total depth of 1,521m, preparing a McKinlay Member drillstem test. Minor update for Origin.
22 Jan 2010other● Neutral
Contact Energy (Origin 51.66% of quoted shares) published December 2009 operating data. Average national wholesale price was $47.40/MWh against $27.27 a year earlier, and total generation was 789 GWh. Data only; no new result.
21 Jan 2010production update▲ GoodMajor
Australia Pacific LNG began commissioning Stage Two of the Talinga CSG plant, after Stage One in November. Capacity passes 30 TJ/d now, 90 TJ/d on completion. APLNG's CSG capacity rises to about 250 TJ/d, targeted at 350 TJ/d later in 2010.
21 Jan 2010drilling progress report● Neutral
The Rockhopper 1 sidetrack restarted on 19 January after crane repairs and has drilled 136m, to 2,106m. It should reach the main reservoir in about a week, then take two more weeks for data and plugging. Continues the post-discovery appraisal.
20 Jan 2010drilling progress report● Neutral
Beach's weekly report: Santos-operated Cooper Basin wells, including Narcoonowie-10 (Origin 13.19%), cased and suspended as a future McKinlay oil producer at 1,352m, and Coonatie-17 and Chi-1 (Origin interests of 10.54% in one) drilling. Minor update.
20 Jan 2010other● Neutral
Contact Energy (Origin 51.66% of quoted shares) will release half-year results on 23 February 2010, with an interim distribution record date of 9 March 2010, subject to board approval. Date notice only; no results.
15 Jan 2010production update▲ Good
New Zealand Oil & Gas (15% Kupe partner) relayed news that the first Kupe light crude shipment loads from 17 January. Production has proceeded as expected since early December. Duplicate of Origin's release.
15 Jan 2010production update▲ Good
The first Kupe light crude shipment (120,000-180,000 barrels, contracted to BP, bound for Kwinana) loads at Port Taranaki from 17 January. Gas, LPG and crude have flowed since early December; remaining plant testing continues over the next two months. Origin holds 50% and operates.
15 Jan 2010joint venture update● NeutralMajor
Origin and US semiconductor maker Micron formed a 50:50 joint venture to develop photovoltaic technology. The near-term aim is to combine Origin's solar work with Micron's capabilities and examine commercialisation. No funding or financial terms stated.
14 Jan 2010drilling progress report▼ Bad
Innamincka (5%) forwarded Origin's 14 January update: Rockhopper 1 sidetrack delayed about two weeks for rig crane repairs. Duplicate of the operator's release.
14 Jan 2010drilling progress report▼ Bad
The Rockhopper 1 sidetrack is delayed: damage to the Kan Tan IV rig's cranes halted operations, with repairs expected to take about two weeks. The rig is on zero rate meanwhile. The discovery well's drilling and data collection were already complete.
14 Jan 2010drilling progress report▼ Bad
AWE (47.5%) relayed Origin's 14 January update: Rockhopper 1 sidetrack delayed about two weeks for crane repairs on the Kan Tan IV rig. Duplicate of the operator's release.
13 Jan 2010drilling progress report● Neutral
Beach's weekly report: Santos-operated Cooper Basin development wells drilling ahead, none with Origin's interest of note except Narcoonowie-10 (Origin 13.19%) spudded at 113m... Egyptian wells progressed. Minor update.
7 Jan 2010drilling progress report● Neutral
AWE (47.5%) relayed Origin's 7 January update that Rockhopper 1 logging is complete and a sidetrack 1.3km down-dip is being prepared. Duplicate of the operator's release.
7 Jan 2010drilling progress report● Neutral
Innamincka (5%) forwarded Origin's 7 January update confirming the Rockhopper 1 sidetrack will go ahead to appraise the discovery. Duplicate of the operator's release.
7 Jan 2010drilling progress report● Neutral
Origin as operator reported wireline logging at Rockhopper 1 is finished and the well plugged. A sidetrack will now go about 1.3km south and down-dip to help size the discovery, taking about two weeks to reach the reservoir and two more to finish. Confirms the sidetrack contemplated on 4 January.
6 Jan 2010drilling progress report● Neutral
Beach's weekly report: Santos-operated Mettika-6 (Origin 13.19%) at 2,579m is being cased and suspended as a future gas producer. Other Cooper Basin oil wells are cased and suspended, and an Egyptian well is rigging up. Minor update.
5 Jan 2010contract award▲ GoodMajor
Australia Pacific LNG (50:50 Origin/ConocoPhillips) signed pipeline and upstream facilities contracts with two contractor joint ventures, following the Savanna rig deal. Both are scalable to the full 450km pipeline. Final investment decision is still expected at end-2010. No contract values stated.
4 Jan 2010drilling result▲ GoodMajor
Rockhopper 1 was confirmed as a new oil and gas discovery in the Bass Basin: wireline data show multiple hydrocarbon columns, with oil recovered from some sands and liquids-rich gas from others. Reservoir quality appears variable, and a downflank sidetrack is being considered. Commercial significance is not yet known.
4 Jan 2010drilling result● Neutral
AWE (47.5%) relayed Origin's 4 January release confirming Rockhopper-1 as an oil and gas discovery in the Bass Basin, with oil and liquids-rich gas recovered, variable reservoir quality, and a possible downflank sidetrack. Commercial significance not yet known. Duplicate of the operator's release.
4 Jan 2010drilling result▲ Good
Innamincka (5%) forwarded Origin's announcement confirming the Rockhopper 1 oil and gas discovery, with a possible downflank sidetrack. It says it is too early to judge commercial significance. Duplicate of the operator's release.
29 Dec 2009drilling result▲ Good
AWE (47.5%) reported Rockhopper-1 at 3,522m with hydrocarbon shows in several zones of the main reservoir, confirmed by logs. Significance and next steps await wireline logging and testing. Partner's version of Origin's announcement.
29 Dec 2009drilling result▲ GoodMajor
Rockhopper 1 reached 3,522m, drilling through its target with several sand intervals between 2,827m and 3,421m showing good gas shows and elevated resistivity, indicating hydrocarbons. Type and commercial significance await wireline logs and samples. Encouraging early sign after the Trefoil 2 appraisal.
29 Dec 2009drilling result▲ Good
Innamincka (5%) forwarded Origin's Rockhopper 1 result, calling it encouraging, and linked it to the successful Trefoil 2 appraisal. It will report further after log interpretation and remapping. Duplicate of the operator's release.
24 Dec 2009drilling progress report● Neutral
Rockhopper 1 (Origin 39.0%, operator) was at 2,753m on 24 December after drilling 788m of 8.5in hole in the week, against planned 3,487m. No results yet.
24 Dec 2009drilling progress report● Neutral
Innamincka (5%) forwarded Origin's 24 December Rockhopper 1 update: 2,753m, performing a wiper trip before drilling ahead. Duplicate of the operator's release.
24 Dec 2009contract award▲ GoodMajor
Australia Pacific LNG (50:50 Origin/ConocoPhillips) awarded a $220m contract to Savanna for two drilling rigs and two workover rigs, five years from September 2010. Final investment decision is still expected at end-2010, with the environmental statement due in the March quarter 2010.
24 Dec 2009drilling progress report● Neutral
AWE (47.5%) relayed Rockhopper-1 at 2,753m on 24 December, up 788m on the week, noting the rig then goes to AWE's New Zealand campaign. Duplicate of the operator's release.
23 Dec 2009production update▼ Bad
Contact Energy (Origin 51.66% of quoted shares) extended the Otahuhu gas power station outage to end-February 2010 after cracks were found in welds in a steam generator. Repairs are being done ahead of winter 2010, and Taranaki maintenance is rescheduled.