Latest news with #PilotEnergy
West Australian
23-07-2025
- Business
- West Australian
Pilot initiates courtship process for massive Perth Basin gas play
Pilot Energy has kicked off a formal courtship process to secure farm-out partners at the company's expansive offshore gas permit in Western Australia's North Perth Basin. The impressive 8605-square-kilometre licence, Australia's largest offshore exploration permit, encompasses both proven oil and gas play fairways along WA's Mid West coast. At the heart of Pilot's recent exploration strategy is the Leander gas prospect, a hefty trap target with an estimated 1.1 trillion cubic feet (tcf) of prospective gas resources and a probability of drilling success ranging from 24-36 per cent. The company says its standout Kingia sandstone target, within Leander, holds 536 billion cubic feet (bcf) of gas with a 31 per cent chance of success, mirroring the geological characteristics of onshore Perth Basin discoveries such as Waitsia, Erregulla and Lockyer Deep. Pilot has set the stage for a competitive farm-out by establishing a dedicated data room for suitors. It expects to receive multiple requests for a look from properly endowed industry players. The company believes that attracting a partner with the technical and commercial expertise to drill Leander will fast-track its development by leveraging its nearby Cliff Head oil platform for rapid commercialisation. The strategic infrastructure was recently acquired from Triangle Energy to spearhead Pilot's latest pivot into domestic gas, where demand is surging amid delays in other WA gas projects. The company says its farm-out process dovetails with its broader vision to lead Australia's clean energy production at the same address, where Pilot is repurposing the Cliff Head oil field into a carbon capture and storage (CCS) facility as part of its ambitious Mid West Clean Energy project. Cliff Head infrastructure includes onshore processing facilities, pipelines and the Arrowsmith production plant. The project aims to produce blue hydrogen as up to 1.2 million tonnes per annum of clean ammonia for export to high-margin Asia-Pacific markets. By integrating gas exploration with its CCS capabilities, Pilot says it can produce carbon-neutral gas, aligning with its existing decarbonisation goals and WA's push for cleaner energy. With WA's domestic gas market facing supply constraints and the growing need for gas to support renewable energy growth, Pilot's drill-ready Leander prospect could offer a compelling opportunity to local established players needing a quick-to-market project. Leander's appeal is bolstered by its robust geological profile. Pilot's technical team has identified multiple stacked pay targets within Kingia Sandstone at the prospect, mirroring the high-productivity reservoirs of multiple onshore Perth Basin giants. Should exploration prove successful, the company estimates Leander could supply gas for more than 30 years, feeding Pilot's planned ammonia plant and supporting WA's energy grid. The farm-out process is expected to intensify over the coming months, with Pilot aiming to secure partners to fund its drilling and exploration activities. A strategic pivot from traditional oil and gas to a diversified clean energy portfolio, underpinned by its potential farm-out permit and Cliff Head assets, could deliver a lightbulb moment for the ambitious company. With strong market interest already evident and a clear vision for sustainable energy, Pilot is steering toward a lucrative future in WA's dynamic energy landscape. Is your ASX-listed company doing something interesting? Contact:
Sydney Morning Herald
23-07-2025
- Business
- Sydney Morning Herald
Pilot initiates courtship process for massive Perth Basin gas play
Pilot Energy has kicked off a formal courtship process to secure farm-out partners at the company's expansive offshore gas permit in Western Australia's North Perth Basin. The impressive 8605-square-kilometre licence, Australia's largest offshore exploration permit, encompasses both proven oil and gas play fairways along WA's Mid West coast. At the heart of Pilot's recent exploration strategy is the Leander gas prospect, a hefty trap target with an estimated 1.1 trillion cubic feet (tcf) of prospective gas resources and a probability of drilling success ranging from 24-36 per cent. The company says its standout Kingia sandstone target, within Leander, holds 536 billion cubic feet (bcf) of gas with a 31 per cent chance of success, mirroring the geological characteristics of onshore Perth Basin discoveries such as Waitsia, Erregulla and Lockyer Deep. Pilot has set the stage for a competitive farm-out by establishing a dedicated data room for suitors. It expects to receive multiple requests for a look from properly endowed industry players. 'Due to the quality and extent of Pilot's Perth Basin exploration holdings and their fast-track development potential to get direct access to the Western Australia domestic gas market, the company expects the farm-out process to be competitive.' Pilot Energy managing director Brad Lingo The company believes that attracting a partner with the technical and commercial expertise to drill Leander will fast-track its development by leveraging its nearby Cliff Head oil platform for rapid commercialisation. The strategic infrastructure was recently acquired from Triangle Energy to spearhead Pilot's latest pivot into domestic gas, where demand is surging amid delays in other WA gas projects. The company says its farm-out process dovetails with its broader vision to lead Australia's clean energy production at the same address, where Pilot is repurposing the Cliff Head oil field into a carbon capture and storage (CCS) facility as part of its ambitious Mid West Clean Energy project. Cliff Head infrastructure includes onshore processing facilities, pipelines and the Arrowsmith production plant.
The Age
23-07-2025
- Business
- The Age
Pilot initiates courtship process for massive Perth Basin gas play
Pilot Energy has kicked off a formal courtship process to secure farm-out partners at the company's expansive offshore gas permit in Western Australia's North Perth Basin. The impressive 8605-square-kilometre licence, Australia's largest offshore exploration permit, encompasses both proven oil and gas play fairways along WA's Mid West coast. At the heart of Pilot's recent exploration strategy is the Leander gas prospect, a hefty trap target with an estimated 1.1 trillion cubic feet (tcf) of prospective gas resources and a probability of drilling success ranging from 24-36 per cent. The company says its standout Kingia sandstone target, within Leander, holds 536 billion cubic feet (bcf) of gas with a 31 per cent chance of success, mirroring the geological characteristics of onshore Perth Basin discoveries such as Waitsia, Erregulla and Lockyer Deep. Pilot has set the stage for a competitive farm-out by establishing a dedicated data room for suitors. It expects to receive multiple requests for a look from properly endowed industry players. 'Due to the quality and extent of Pilot's Perth Basin exploration holdings and their fast-track development potential to get direct access to the Western Australia domestic gas market, the company expects the farm-out process to be competitive.' Pilot Energy managing director Brad Lingo The company believes that attracting a partner with the technical and commercial expertise to drill Leander will fast-track its development by leveraging its nearby Cliff Head oil platform for rapid commercialisation. The strategic infrastructure was recently acquired from Triangle Energy to spearhead Pilot's latest pivot into domestic gas, where demand is surging amid delays in other WA gas projects. The company says its farm-out process dovetails with its broader vision to lead Australia's clean energy production at the same address, where Pilot is repurposing the Cliff Head oil field into a carbon capture and storage (CCS) facility as part of its ambitious Mid West Clean Energy project. Cliff Head infrastructure includes onshore processing facilities, pipelines and the Arrowsmith production plant.
West Australian
24-06-2025
- Business
- West Australian
Pilot, Triangle lock in Cliff Head transfer for carbon capture play
Pilot Energy has locked in the purchase of the West Australian-based Cliff Head oil facility from former joint venture partner Triangle Energy and will repurpose the asset as a carbon capture and storage facility within its Mid West Clean Energy project. Triangle's remaining 78.75 per cent interest in the Cliff Head oil field within the Perth Basin, held under the current JV, has been transferred to Pilot in exchange for a secured $5.563 million promissory note. The previously announced revised terms of the sale allowed for Pilot's existing debt to Triangle to be converted via the secured note. It matures on September 30, 2026. Interest will accrue from June 30 at 10 per cent and will be capitalised to maturity. Ownership of all onshore and offshore assets falling within WA state jurisdiction has been transferred to Pilot. The assets include onshore processing facilities, the Arrowsmith production plant, Arrowsmith freehold land, infrastructure licences and offshore pipelines within state waters. The pipelines extend 16 kilometres to an offshore platform, with the first 12km estimated to fall within WA waters. The remaining 4km of pipelines are in Commonwealth jurisdiction. Pilot will ask to transfer the project via the National Offshore Petroleum Titles Administrator. The company plans to soon lodge the relevant paperwork with the administrator. Triangle stands to receive a considerable boost to its cash position from the sale. In addition to the secured note funds due next year, the company will receive a one-off $167,000 payment on August 31 this year in recognition of the deferred interest accrual under the secured note. It will receive a further $4.5 million when Pilot receives a greenhouse gas injection licence and up to a further $7.5 million in royalties from the project. Pilot is also looking to sell its Three Springs solar project, also in WA's Mid West region. If that occurs, Pilot has agreed to pay Triangle 30 per cent of the sale proceeds towards its secured debt. Triangle will continue to hold full security over Pilot and its subsidiary company Royal Energy until the debt is repaid in full. Pilot Energy is now champing at the bit to bring in an elite group of investors interested in agreeing on a joint venture to develop and operate the Mid West Clean Energy project. Pilot has a state-owned enterprise (SOE), experienced with carbon storage and capture, locked and loaded to help develop the project. A consortium of South Korean mega-energy firms led by Korea Southern Power Co is also looking to link up with Pilot and acquire a 60 per cent interest to jointly develop the Mid West project to secure a supply of ammonia. The ammonia will be used for hydrogen cofiring in coal-fired power plants in Korea. The Korean Southern Power Co is one of six State-owned power companies and the nation's largest electric utility group. It plans to burn a mix of 20 per cent ammonia and 80 per cent coal at the company's large Samcheok 2044-megawatt thermal power plant in the eastern Korean province of Gangwon-Do, about 120 kilometres from the capital city of Seoul. The consortium comprises Korea Southern Power Co, Korea East-West Power, Samsung C&T and hydrogen producer Approtium. The company plans to repurpose the depleted Cliff Head oil well into a facility capable of storing liquified carbon emissions from WA's industrial emitters. Pilot will create a carbon storage business, charging third-party emitters, to add to its clean energy ammonia project arsenal. Pilot also plans to supply blue and eventually green hydrogen into WA's energy grid, positioning itself as a major supplier as the State looks to cut emissions and help develop sources of cleaner electricity. As Cliff Head swaps hands, both Pilot and Triangle appear to have emerged as winners. Is your ASX-listed company doing something interesting? Contact:
Sydney Morning Herald
24-06-2025
- Business
- Sydney Morning Herald
Pilot, Triangle lock in Cliff Head transfer for carbon capture play
Pilot Energy has locked in the purchase of the West Australian-based Cliff Head oil facility from former joint venture partner Triangle Energy and will repurpose the asset as a carbon capture and storage facility within its Mid West Clean Energy project. Triangle's remaining 78.75 per cent interest in the Cliff Head oil field within the Perth Basin, held under the current JV, has been transferred to Pilot in exchange for a secured $5.563 million promissory note. The previously announced revised terms of the sale allowed for Pilot's existing debt to Triangle to be converted via the secured note. It matures on September 30, 2026. Interest will accrue from June 30 at 10 per cent and will be capitalised to maturity. Ownership of all onshore and offshore assets falling within WA state jurisdiction has been transferred to Pilot. The assets include onshore processing facilities, the Arrowsmith production plant, Arrowsmith freehold land, infrastructure licences and offshore pipelines within state waters. 'All the hard work to consolidate ownership of the Cliff Head oil JV assets and infrastructure is beginning to pay off.' Pilot Energy managing director Brad Lingo The pipelines extend 16 kilometres to an offshore platform, with the first 12km estimated to fall within WA waters. The remaining 4km of pipelines are in Commonwealth jurisdiction. Pilot will ask to transfer the project via the National Offshore Petroleum Titles Administrator. The company plans to soon lodge the relevant paperwork with the administrator. Triangle stands to receive a considerable boost to its cash position from the sale. In addition to the secured note funds due next year, the company will receive a one-off $167,000 payment on August 31 this year in recognition of the deferred interest accrual under the secured note. It will receive a further $4.5 million when Pilot receives a greenhouse gas injection licence and up to a further $7.5 million in royalties from the project.
