Oil Explorer Finder Seeks $150mln for Australia Drilling
Australia-focused oil and gas explorer Finder Exploration is seeking to raise $150 million for the drilling of five wells off the country's northwest coast, a document seen by Reuters showed.
The wells could hold as much as 600 million barrels of oil and gas equivalent, the privately owned company said in a presentation to potential investors.
Finder, a joint venture with energy services company Fugro , hopes to start drilling in the third quarter of 2018.
The exploration blocks are adjacent to the Browse basin and Northern Carnarvon basin, where a number of large oil companies including Exxon Mobil (XOM) and Royal Dutch Shell (RYDAF) operate.
Reporting by Ron Bousso
