Conoco Gives Up on Oz Shale

摘要

ConocoPhillips, one of the early entrants in Australia's fledgling shale gas sector, has thrown in the towel after disappointing drilling results, confirming that the country's shale prospects may be harder to tap than initially thought. "[Conoco] is seeking to transfer its interest in the Southern Canning Basin to New Standard Energy. ... The decision to withdraw was reached following review of results from the initial drilling in context of our overall global portfolio," Conoco's vice president for exploration and development, Frank Krieger, told International Oil Daily in a statement.