Unlocking the Beetaloo Sub-basin realises new exploration milestone as royalty legislation contemporises
June saw Empire Energy announce $27.5 million in additional capital raising to further Beetaloo Sub-basin exploration in the Northern Territory.
The capital resources will enable continued exploration momentum for Empire Energy in readiness for production.
As industry prepares for production, the petroleum royalty scheme is under review by the Commissioner of Territory Revenue (TRO) to ensure it keeps pace with industry development.
Contemporising royalty legislation will address historical practical and administrative difficulties encountered and will deliver increased transparency, equity and certainty required to support the development of the onshore petroleum industry.
Read more at Our Territory Gas Strategy website.