By Raquel Mustillo
BEACH Energy will indefinitely suspend operations at the recently redeveloped $22m Katnook Gas Plant next financial year following declining gas volumes at its Limestone Coast wells.
In a statement to shareholders, Beach said production in the South Australian Otway Basin had decreased by 23pc – 57 thousand barrels of oil equivalent (kboe) – with shares plummeting 24.1pc pc to $1.28 on Friday – the lowest since November last year.
The gas plant, which was funded by a $6m contribution from the Federal Government’s Gas Acceleration Program, was commissioned in January last year and processes raw natural gas from the nearby Haselgrove-3 well.
Traditional owners say it is "absolutely disgraceful" that just 1 per cent of water in Australia's largest river system is owned by Aboriginal people, and want the Federal Government to honour its $40-million commitment to help them buy water.
Murray-Darling Basin communities to receive $34-million cash injection to aid water recovery
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The grants are designed to strengthen economies along the Murray River.
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Key points:
A budget of $34 million has been announced for round three of the Murray-Darling Basin Plan Economic Development Program
Grants between $50,000 and $1 million are on offer
Federal Water Minister Keith Pitt will spend the week touring impacted communities
Federal Minister for Water Keith Pitt said the grants would provide opportunities to develop projects in communities impacted by water recovery under the basin plan. This is about driving those regional economies, strengthening those regional economies, proving more local jobs into the future and, most importantly, to add some more diversification to those regional centres, he said.
If the National Party is the answer, what on earth is the question?
Any party that genuinely cares about the prospects for a dry and devastated rural Australia would be worried sick.
This morning’s
RN Breakfast interview with Water Minister Keith Pitt tells you everything you need to know about the shonky, negligent shambles the National Party has become. A melanoma on the face of the Australian body politic.
Starting in that faux jocular aw shucks I m a country boy tone Nats love (
yeaaaaaah hiiiiii Fran.. ) Pitt quickly found that he would have to answer actual questions about the Productivity Commission report on national water supply. It was painfully clear that he probably hadn t read the report which is strong on water recycling for urban needs, and rights buy-backs, and scathing about new infrastructure, i.e. dams, which can be up to 50 times as expensive as other solutions.