Onshore - Offshore & International - New Ventures - Acreage Management Strategy
Mosaic’s focus on Queensland now involves accelerated evaluation of the Company’s significant exploration and production acreage, ongoing development of new commercial petroleum plays and discoveries, and greater use of our extensive infrastructure.
In the Surat-Bowen Basins of Queensland, the new Permian Tinowon stratigraphic gas province discovered and commercialised by Mosaic has been a company-making success and is now the dominant proportion of Mosaic’s business in this core area. This stratigraphic petroleum play is similar to the successful basin-centered gas and oil plays in the Canadian Deep Basin in Alberta and the US Rocky Mountain in Wyoming.
Mosaic has successfully applied new technology in its exploration and development activities in the Surat-Bowen Basins. The Company has embraced the use of leading edge seismic technologies to significantly reduce the geological risk of petroleum prospects prior to drilling. Mosaic has also developed a substantial expertise in under-balanced drilling in its Surat-Bowen Basins acreage, both of vertical and horizontal wells, and is widely recognized as a leading exponent of this technology in Australia. Mosaic continues to develop and extend its expertise in these areas.
Mosaic will continue to evaluate both new and existing plays in its extensive Surat-Bowen Basins acreage, and do so through its application of new technology to improve the chance of exploration success. Importantly, the close proximity of Mosaic's oil and gas prospects to the Company’s pipeline and processing infrastructure (within 30 kms) will allow for early commercialization of new discoveries.