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IS - Cabot releases Otway Basin license in Australia - April 2019
Cabot Energy relinquished its interest in the PEL 629 onshore exploration license in South Australia’s Otway Basin. The license covers 5,666 sq km and was awarded in September 2013 with a five-year term, but Cabot suspended the license in June 2014 to carry out additional technical work, get a better understanding of the area and to seek a farm-out partner. The acreage has nearby discoveries within the Otway Basin which provide a working hydrocarbon system. The basin also has pipeline infrastructure available which would enable the quick development of......
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