New Standard Energy, ConocoPhillips to develop Australian project
New Standard Energy, ConocoPhillips to develop Australian project Share 3 October 2011 New Standard Energy has signed a binding farm-out agreement with ConocoPhillips to explore and evaluate the shale gas potential of the Goldwyer project in Canning Basin, Western Australia. Under the terms of the agreement, ConocoPhillips will earn and retain a 75% interest in the Goldwyer project by providing $109.5m over four phases. Under the first phase, ConocoPhillips will fund 100% of the costs to drill, log, core and suspend three vertical wells, complete detailed core lab analysis of the cores from e...