Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Now Beterloo Energy, which was previously known as Empire Energy,
has signed a consent agreement with traditional owners to sell
appraisal gas from the Beaterloo Basin. Production of appraisal gas,
which will help power the Northern Territori's domestic energy grid,
is expected to begin within months. Joining us in the
studio is Betloo Energy CEO Alex Underwood. Good morning to you,
(00:24):
Alex get Akatie.
Speaker 2 (00:26):
Great to be back.
Speaker 1 (00:26):
Good to have you on the show. Now tell me
how significant is this agreement with traditional owners.
Speaker 2 (00:32):
Oh, this is a huge milestone, not only for us,
but also for the traditional owners themselves. This is the
first time on Aboriginal land that an agreement of this
sort has been signed and so we were delighted to
get their consent last week.
Speaker 1 (00:44):
Yeah. Right, So what sort of changed their minds? Because
I know that there was like one person in particular
who'd spoken to Cam Smith and Matt Cunningham. You know
the journals that were out there about shifting from being
an antifraker who'd live i think, protested outside of Parliament
House in Canberra to then coming across and actually working
(01:05):
for you guys.
Speaker 2 (01:06):
I think so I would say that's really the result
of first of all, years of working very closely together
to build their mutual trust and respect. But also we
have been employing traditional owners on site and it gives
them full visibility and transparency over what we're doing, and
they've been able to see that we are a responsible
operator and that we do really care about their interests.
Speaker 1 (01:29):
Now, can you tell me what exactly is appraisal gas,
because if you're someone like me who's got no real
idea about the franking process, I don't know what is
appraisal gas.
Speaker 2 (01:39):
So essentially we've moved beyond the expiration phase. We know
there's a very very large gas resource where we are.
What we do in the appraisal phase is assess the
commercial viability. That's likely to take a few years, but
we're delighted that under this agreement and the final approvals
we're receiving from the Anti government, not only will be
(01:59):
able to move up the resource but also deliver gas
into the local market while doing so.
Speaker 1 (02:04):
You mentioned the commercial viability, like, how viable is it
looking from the work that you're already doing out there
at the Beadleoh?
Speaker 2 (02:12):
Yeah, So we are very excited about the results. We're
generating so far, and we're feeling very confident about it.
We still have a bit more work to do along
that journey, but the early indications are extremely encouraging.
Speaker 1 (02:23):
What put that into some context for US? I guess,
you know, you might look at other locations around the
world that are exporting gas. How does the Beaterloo compare
to some of those locations.
Speaker 2 (02:38):
So as as you would know, the US energy industry
was really transformed by shale gas. There are some geological
factors required for success, and the Beaterloo very much has
all of those. And now we're going through the process
of proving it up. And you know, I think we're
sitting on a world class resource here.
Speaker 1 (02:56):
How soon do you reckon? We could actually see gas
powering the North territories greed.
Speaker 2 (03:01):
So we think it's not very far away at all.
We've just got to go through these final approvals. We've
got a gas plant that will be commencing the installation
of in the next couple of months, and as soon
as we do that, we'll be able to deliver that
gas into the pipeline that runs right through our tenement.
Speaker 1 (03:16):
Like end of the year Alex.
Speaker 2 (03:18):
Hopefully potentially early next but We're all working very hard
to make it happen as soon as possible because we
know that the Northern Territory needs more gas and we
are very committed to looking after the local market first.
Speaker 1 (03:31):
Yeah, that's one of the big things that people sort
of contact us about is you know, they sort of say, woofy,
is this actually going to help us? Are we going
to see you know, gas flowing into the Northern Territory
as well and helping us as customers? I mean, are
we What do you say to those that are concerned
with that.
Speaker 2 (03:49):
Well, the first thing I would say is I think
it's already benefiting the local economy in a major way.
We are very proud to be employing toos on site
local businesses. And the critical thing about Onshore Gas is
that it will deliver royalties from day one. This means
that how the production we carry out can help fund
(04:10):
all the services that are required across the Northern Territory.
Speaker 1 (04:14):
How many workers have you got on sites currently?
Speaker 2 (04:17):
So right now we have about ninety people on site
just for one single well, and so that really gives
you a sense of the scale of the opportunity here.
You know, once this basin starts scaling up. I firmly
believe that there will be thousands of jobs that come.
Speaker 1 (04:31):
Out of this. Yeah, so how does it kind of work?
I suppose in terms of the jobs that are required,
because you know, I guess it could be one of
the other myths or I don't know whether there's any
truth to it. That I have sort of heard over
the years, is oh, you know, once it gets going,
you don't actually need many staff out there. Is that
the case?
Speaker 2 (04:50):
Well, I think again, if you look at the US
shale gas experience, the thing about onshore gas is that
it continues building for many, many decades, and so you know,
over in the US there have been around three million
direct and indirect jobs created out of this industry, and
I very much see that potential continuing to evolve from the.
Speaker 1 (05:11):
Current point we're at, Like how many do you I
guess how long the piece is string? But do you
have any kind of fun you know, do you have
any any idea how many jobs we might see in
the NT as a result of the industry.
Speaker 2 (05:26):
Well, it's very hard to predict. But what I would
say is that during the Pepper Inquiry, the independent experts
predicted six thousand jobs. I'm becoming more confident that that
estimate could be quite conservative given the scale up in
activity we're seeing.
Speaker 1 (05:41):
Alex. You know, there is still people in the community.
I know, whenever you know I speak to you, whenever
I talk about about fracking, there are still some people
in the community that have concerns around fracking, that feel
as though it's going to have an environmental impact. I mean,
what do you say to those people listening this morning
who who just feel as though it's an industry that's
(06:04):
going to be damaging to the Northern Territory.
Speaker 2 (06:07):
Well, I think what I would first say is, if
you look at our track record, we take our environmental
responsibilities extremely seriously, and particularly around aquifers. The aquifers are
a critical resource for local communities, for local businesses and
other industries, and I think our track record demonstrates that
we are doing things the right way. We are one
(06:29):
of the most, if not the most regulated shale gas
industry in the world, and I think that's appropriate to
maintain this beautiful part of the world and make sure
that we do protect it. I would also say that
for those people who have been working on site with us,
who can actually see directly the incredible processes we go
through to be environmentally responsible. We are now starting to
(06:52):
build their trust and mutual respect, and you know, it's
incumbent on us to keep explaining to people what we're
doing and how we're minimizing those risks.
Speaker 1 (07:01):
Now, what's the long term plan in terms of the
gas that you get from the be Toloo, Which markets
is it going to be going to? Well? Are you
still working through that?
Speaker 2 (07:11):
So the first and most important priority is looking after
the local market. I just heard the Chief Minister we're
on with you earlier talking about the importance of getting
more supply into the market and taking those pressure off prices.
Australia's East Coast is also suffering major gas shortages, and
I think that when we talk about additional gas out
(07:32):
of the be Toloo, not only do we need to
be resolving shortages, but we need to keep growing our
country's economy for decades into the future, and I think
gas has an incredibly important role to play in that. Ultimately,
we could also down the track see further LNG export
from this on shore basin after the local and East
(07:53):
Coast markets are supplied. And so you know, that's going
to create incredible royalties for the NT and a lot
of job if we can get it right.
Speaker 1 (08:01):
Well. Alex Underwood, the Beterloo Energy CEO, good to speak
with you this morning. Appreciate your time. Thank you, Katie,
thank you,
Now Beterloo Energy, which was previously known as Empire Energy,
has signed a consent agreement with traditional owners to sell
appraisal gas from the Beaterloo Basin. Production of appraisal gas,
which will help power the Northern Territori's domestic energy grid,
is expected to begin within months. Joining us in the
studio is Betloo Energy CEO Alex Underwood. Good morning to you,
(00:24):
Alex get Akatie.
Speaker 2 (00:26):
Great to be back.
Speaker 1 (00:26):
Good to have you on the show. Now tell me
how significant is this agreement with traditional owners.
Speaker 2 (00:32):
Oh, this is a huge milestone, not only for us,
but also for the traditional owners themselves. This is the
first time on Aboriginal land that an agreement of this
sort has been signed and so we were delighted to
get their consent last week.
Speaker 1 (00:44):
Yeah. Right, So what sort of changed their minds? Because
I know that there was like one person in particular
who'd spoken to Cam Smith and Matt Cunningham. You know
the journals that were out there about shifting from being
an antifraker who'd live i think, protested outside of Parliament
House in Canberra to then coming across and actually working
(01:05):
for you guys.
Speaker 2 (01:06):
I think so I would say that's really the result
of first of all, years of working very closely together
to build their mutual trust and respect. But also we
have been employing traditional owners on site and it gives
them full visibility and transparency over what we're doing, and
they've been able to see that we are a responsible
operator and that we do really care about their interests.
Speaker 1 (01:29):
Now, can you tell me what exactly is appraisal gas,
because if you're someone like me who's got no real
idea about the franking process, I don't know what is
appraisal gas.
Speaker 2 (01:39):
So essentially we've moved beyond the expiration phase. We know
there's a very very large gas resource where we are.
What we do in the appraisal phase is assess the
commercial viability. That's likely to take a few years, but
we're delighted that under this agreement and the final approvals
we're receiving from the Anti government, not only will be
(01:59):
able to move up the resource but also deliver gas
into the local market while doing so.
Speaker 1 (02:04):
You mentioned the commercial viability, like, how viable is it
looking from the work that you're already doing out there
at the Beadleoh?
Speaker 2 (02:12):
Yeah, So we are very excited about the results. We're
generating so far, and we're feeling very confident about it.
We still have a bit more work to do along
that journey, but the early indications are extremely encouraging.
Speaker 1 (02:23):
What put that into some context for US? I guess,
you know, you might look at other locations around the
world that are exporting gas. How does the Beaterloo compare
to some of those locations.
Speaker 2 (02:38):
So as as you would know, the US energy industry
was really transformed by shale gas. There are some geological
factors required for success, and the Beaterloo very much has
all of those. And now we're going through the process
of proving it up. And you know, I think we're
sitting on a world class resource here.
Speaker 1 (02:56):
How soon do you reckon? We could actually see gas
powering the North territories greed.
Speaker 2 (03:01):
So we think it's not very far away at all.
We've just got to go through these final approvals. We've
got a gas plant that will be commencing the installation
of in the next couple of months, and as soon
as we do that, we'll be able to deliver that
gas into the pipeline that runs right through our tenement.
Speaker 1 (03:16):
Like end of the year Alex.
Speaker 2 (03:18):
Hopefully potentially early next but We're all working very hard
to make it happen as soon as possible because we
know that the Northern Territory needs more gas and we
are very committed to looking after the local market first.
Speaker 1 (03:31):
Yeah, that's one of the big things that people sort
of contact us about is you know, they sort of say, woofy,
is this actually going to help us? Are we going
to see you know, gas flowing into the Northern Territory
as well and helping us as customers? I mean, are
we What do you say to those that are concerned
with that.
Speaker 2 (03:49):
Well, the first thing I would say is I think
it's already benefiting the local economy in a major way.
We are very proud to be employing toos on site
local businesses. And the critical thing about Onshore Gas is
that it will deliver royalties from day one. This means
that how the production we carry out can help fund
(04:10):
all the services that are required across the Northern Territory.
Speaker 1 (04:14):
How many workers have you got on sites currently?
Speaker 2 (04:17):
So right now we have about ninety people on site
just for one single well, and so that really gives
you a sense of the scale of the opportunity here.
You know, once this basin starts scaling up. I firmly
believe that there will be thousands of jobs that come.
Speaker 1 (04:31):
Out of this. Yeah, so how does it kind of work?
I suppose in terms of the jobs that are required,
because you know, I guess it could be one of
the other myths or I don't know whether there's any
truth to it. That I have sort of heard over
the years, is oh, you know, once it gets going,
you don't actually need many staff out there. Is that
the case?
Speaker 2 (04:50):
Well, I think again, if you look at the US
shale gas experience, the thing about onshore gas is that
it continues building for many, many decades, and so you know,
over in the US there have been around three million
direct and indirect jobs created out of this industry, and
I very much see that potential continuing to evolve from the.
Speaker 1 (05:11):
Current point we're at, Like how many do you I
guess how long the piece is string? But do you
have any kind of fun you know, do you have
any any idea how many jobs we might see in
the NT as a result of the industry.
Speaker 2 (05:26):
Well, it's very hard to predict. But what I would
say is that during the Pepper Inquiry, the independent experts
predicted six thousand jobs. I'm becoming more confident that that
estimate could be quite conservative given the scale up in
activity we're seeing.
Speaker 1 (05:41):
Alex. You know, there is still people in the community.
I know, whenever you know I speak to you, whenever
I talk about about fracking, there are still some people
in the community that have concerns around fracking, that feel
as though it's going to have an environmental impact. I mean,
what do you say to those people listening this morning
who who just feel as though it's an industry that's
(06:04):
going to be damaging to the Northern Territory.
Speaker 2 (06:07):
Well, I think what I would first say is, if
you look at our track record, we take our environmental
responsibilities extremely seriously, and particularly around aquifers. The aquifers are
a critical resource for local communities, for local businesses and
other industries, and I think our track record demonstrates that
we are doing things the right way. We are one
(06:29):
of the most, if not the most regulated shale gas
industry in the world, and I think that's appropriate to
maintain this beautiful part of the world and make sure
that we do protect it. I would also say that
for those people who have been working on site with us,
who can actually see directly the incredible processes we go
through to be environmentally responsible. We are now starting to
(06:52):
build their trust and mutual respect, and you know, it's
incumbent on us to keep explaining to people what we're
doing and how we're minimizing those risks.
Speaker 1 (07:01):
Now, what's the long term plan in terms of the
gas that you get from the be Toloo, Which markets
is it going to be going to? Well? Are you
still working through that?
Speaker 2 (07:11):
So the first and most important priority is looking after
the local market. I just heard the Chief Minister we're
on with you earlier talking about the importance of getting
more supply into the market and taking those pressure off prices.
Australia's East Coast is also suffering major gas shortages, and
I think that when we talk about additional gas out
(07:32):
of the be Toloo, not only do we need to
be resolving shortages, but we need to keep growing our
country's economy for decades into the future, and I think
gas has an incredibly important role to play in that. Ultimately,
we could also down the track see further LNG export
from this on shore basin after the local and East
(07:53):
Coast markets are supplied. And so you know, that's going
to create incredible royalties for the NT and a lot
of job if we can get it right.
Speaker 1 (08:01):
Well. Alex Underwood, the Beterloo Energy CEO, good to speak
with you this morning. Appreciate your time. Thank you, Katie,
thank you,
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