Page 260 - Annual Report 2020
P. 260

5.7 Supplementary oil and gas information – unaudited continued
          Drilling and other exploratory and development activities
          The number of crude oil and natural gas wells drilled and completed for each of the last three years was as follows:

                                               Net exploratory wells         Net development wells
                                        Productive     Dry      Total  Productive     Dry       Total     Total
          Year ended 30 June 2020
          Australia                            −         −         −          −         −         −          −
          United States  (1)                   −         −         −          −         1         1         1
          Other  (2)                          1         1         2          1          −         1         3
          Total                               1         1         2          1          1         2         4
          Year ended 30 June 2019
          Australia                            −         −         −          1         −         1         1
          United States  (1)                  1          −         1        33          −        33        34
          Other  (2)                          4         2         6           −         −         −         6
          Total                               5         2          7        34          −        34        41
          Year ended 30 June 2018
          Australia                            −         −         −          1         −         1         1
          United States  (1)                  1         1         2         84          1        85        87
          Other  (2)                           −         −         −          −         −         −          −
          Total                               1         1         2         85          1        86        88
          (1)  Includes Onshore US assets net productive development wells of nil (2019: 33; 2018: 84) and net dry development wells of nil (2019: nil; 2018: 1). Onshore US assets
           had nil net exploratory wells in 2020, 2019 and 2018.
          (2) Other is primarily comprised of Algeria, Mexico and Trinidad and Tobago.
          The number of wells drilled refers to the number of wells completed at any time during the respective year, regardless of when drilling was
          initiated. Completion refers to the installation of permanent equipment for production of oil or gas, or, in the case of a dry well, to reporting
          to the appropriate authority that the well has been abandoned.
          An exploratory well is a well drilled to find oil or gas in a new field or to find a new reservoir in a field previously found to be productive of oil
          or gas in another reservoir. A development well is a well drilled within the limits of a known oil or gas reservoir to the depth of a stratigraphic
          horizon known to be productive.
          A productive well is an exploratory, development or extension well that is not a dry well. Productive wells include wells in which hydrocarbons
          were encountered and the drilling or completion of which, in the case of exploratory wells, has been suspended pending further drilling
          or evaluation. A dry well (hole) is an exploratory, development, or extension well that proves to be incapable of producing either oil or gas
          in sufficient quantities to justify completion as an oil or gas well.
          Oil and gas properties, wells, operations, and acreage
          The following tables show the number of gross and net productive crude oil and natural gas wells and total gross and net developed and
          undeveloped oil and natural gas acreage as at 30 June 2020. A gross well or acre is one in which a working interest is owned, while a net
          well or acre exists when the sum of fractional working interests owned in gross wells or acres equals one. Productive wells are producing
          wells and wells mechanically capable of production. Developed acreage is comprised of leased acres that are within an area by or assignable
          to a productive well. Undeveloped acreage is comprised of leased acres on which wells have not been drilled or completed to a point that
          would permit the production of economic quantities of oil and gas, regardless of whether such acres contain proved reserves.
          The number of productive crude oil and natural gas wells in which the Group held an interest at 30 June 2020 was as follows:
                                                     Crude oil wells      Natural gas wells       Total
                                                     Gross      Net       Gross      Net       Gross       Net
          Australia                                   353       176        162        54        515       230
          United States                                61        24          −          −        61        24
          Other  (1)                                   59        22          8         4         67        26
          Total                                       473       222        170        58        643       280
          (1)  Other is primarily comprised of Algeria and Trinidad and Tobago.
          Of the productive crude oil and natural gas wells, 133 (net: 62) operated wells had multiple completions.
          Developed and undeveloped acreage (including both leases and concessions) held at 30 June 2020 was as follows:
                                                                         Developed acreage   Undeveloped acreage
          Thousands of acres                                              Gross      Net       Gross       Net
          Australia                                                       2,152      823        766       279
          United States                                                     98        36        844       800
          Other  (1)(2)                                                    146        57       3,926     3,445
          Total                                                          2,396       916       5,536     4,524
          (1)  Developed acreage in Other primarily consists of Algeria and Trinidad and Tobago.
          (2) Undeveloped acreage in Other primarily consists of Barbados, Canada, Mexico and Trinidad and Tobago.
          Approximately 833 thousand gross acres (411 thousand net acres), 1,089 thousand gross acres (655 thousand net acres) and 264 thousand
          gross acres (256 thousand net acres) of undeveloped acreage will expire in the years ending 30 June 2021, 2022 and 2023 respectively,
          if the Group does not establish production or take any other action to extend the terms of the licences and concessions.








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