Seeking Alpha

Tap Oil looks to sell stakes in Apache- and Eni-operated Australian assets

  • Australia's Tap Oil is seeking to sell more assets, and has sent out information documents on several stakes in oil and gas fields off the country’s northern coast.
  • Among assets up for sale is Tap’s 10% stake in the Apache-operated (APA) Taunton oil field in Western Australia, which is currently being assessed for development after oil flowed from a test well at rates of 2,800 bbl/day.
  • Also up for sale is Tap’s 12% stake in the Prometheus and Rubicon gas discoveries in offshore northwestern Australia, which are operated by Eni (E) and may contain 335B cf of natural gas.
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