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IS - Cabot releases Otway Basin license in Australia - April 2019



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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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