Cheers, Blacktip is a case study into how important location is for a gas field.
It is located in the WA offshore area and its market is the NT. The location was poor because its only market was the comparatively small NT market and for that it required considerable capex for pipelines etc. It has been producing for yonks. It would have been making a return but without actually doing more than that.
It has little implication for other Australian markets- save for any supplying the NT. BPTs main competitors supply SE Australia- and to a lesser extent WA. The Bass Strait JV (aka Gippsland JV) is the main one to watch. Overseas demand for Qld CSG- when that decreases- makes those projects a competitor to BPT.
Something like that.
IMHO DYOR
Cheers, Blacktip is a case study into how important location is...
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