Australian Gas Company (AusGasCo) Pty Ltd is a new entrant into the Australian energy industry focused on prospective gas exploration and appraisal opportunities with access to the Australian East Coast Gas Market. The founders of AusGasCo have a proven Australian petroleum industry track record.
AusGasCo's Strategy:
Secure low cost onshore gas assets with access to the Australian east coast market
Develop a vertically integrated model with strategic midstream and downstream partnerships
Remain agile and implement a lean operating model backed by an experienced team
Focus on delivery to Australian domestic industrial and retail customers
AusGasCo's current portfolio includes four (4) Authority to Prospect (ATP) tenures covering >240,000 acres which are prospective for Coal Seam Gas (CSG) in both the Surat and Bowen Basins, Queensland, Australia. CSG production from these two basins account for ~80% of the Australian East Coast Gas Market (ECGM) or >4PJ/day. AusGasCo's tenures have a best estimate contingent and prospective resource of 376PJ with upside potential to 761 PJ (evaluated by third party reserve estimator Netherland, Sewell & Associates, NSAI).
The ECGM forecast prevailing gas flow and gross demand synopsis:
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CSG dominates Queensland and the ECGM production, supplying in excess of 1500PJ/year
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The Walloon Coal Measures, Surat Basin, alone contributes ~65% of ECGM supply at an average daily production of ~3.5PJ (2024)
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The 2029 ECGM step change supply shortfall estimate is 24PJ/year (~66 TJ/day) dominated by southern states demand and forecast natural field decline
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Recent reported average realised gas prices between $9.41GJ - $14.20GJ for ECGM domestic supply
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ACCC short-term LNG netback 2026 forward price average is $14.16/GJ
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In the absence of economic gas discoveries in new plays and/or frontier basins the reliance will increase on Queensland's gas supply through incremental development with existing infrastructure coupling