Rampart to acquire Neon's interest in Permit WA-503-P off Western Australia

Rampart Energy Ltd. has secured rights to an 80% working interest as operator in exploration permit WA-503-P offshore Western Australia, through an agreement with Neon Energy Ltd. and partner Black Swan Resources Pty Ltd.

Subject to the approval of the National Offshore Petroleum Titles Administrator (NOPTA), Rampart will be assigned the 80% interest in WA-503-P in consideration for assuming Neon Energy's commitments pertaining to the permit.

Block WA-503-P is located offshore Western Australia within the Dampier sub-basin, inboard of the giant Northwest Shelf complex and on trend with numerous oil and gas discoveries, including the Legendre and Hurricane fields. The shallow water depth across the block allows for drilling by lower-cost jackups.

Black Swan will hold 20% interest in WA-503-P, and the agreement with Neon Energy requires that Rampart must carry Black Swan throughout the primary term of the permit.  

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...