#ConocoPhillips looks to invest in more Australian Shale

Last year ConocoPhillips created a partnership with Perth-based New Standard Energy Ltd which they saw as an entry into the Australian shale market. ConocoPhillips and New Standard Energy are currently focusing on the Canning Basin but Todd Creeger, president of Conoco’s Australian office says that they see potential in the Cooper Basin as well, reports Bloomberg.

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There are numerous Australian exploration companies currently active in the shale market, but they need foreign investment to drill which is costly in Australia. The good news for these explorers and producers is that Conoco, Hess Corp, BG Group and Mitsubishi Corp have all shown their interest in funding Australian shale campaigns.

Santos, Senex Energy and Drillsearch Energy are some of Australia’s leading shale explorers and producers and they will be speaking at this year’s Shale World Australia which will be co-located with Coal Seam Methane World.