Latest news with #ZenithEnergy
The Age
27-06-2025
- Business
- The Age
Whitebark pins down well costs for giant SA hydrogen-helium hunt
Whitebark Energy has fired the starting gun on what could be a huge energy play after finalising a preliminary well design and rig market assessment for its monster Alinya project in South Australia's remote Officer Basin. A detailed engineering study conducted by global energy consultancy Zenith Energy has wrapped up, giving the company a green light to drill its first deep drill hole into its particularly large Rickerscote target. The prospect is a behemoth sub-salt structure spanning more than 180 square kilometres and potentially up to 400 square kilometres. According to the report, the well will need to be drilled to a total depth of 2400 metres and has been priced at a surprisingly modest cost of $7.7 million. For a project of this magnitude, with multiple stacked reservoir targets in play, the estimated price tag is a game-changer and well below industry norms, Whitebark says. Rickerscote is one of the biggest seismically defined onshore structures in Australia, and has headline-grabbing potential to host helium, hydrogen and hydrocarbon resources. However, it is completely undrilled. 'These recent studies demonstrate the low-cost exploration opportunities which are available to Whitebark in its Officer Basin assets.' Whitebark Energy executive director Richard King The company picked up two further targets in the structural depth mapping. Milford and Milford East, directly to the east of Rickerscote, span an impressive 230 square kilometres and 160 square kilometres, respectively. The company says the sheer size of the three prospects combined is comparable to the surface area of other giant Australian fields, such as Barrow Island, Gorgon and Kingfish, which collectively hold as much as 3.7 billion barrels of oil equivalent. Armed with the new report, Whitebark has put out the feelers on rig availability and received multiple responses from contractors confirming open slots for 2026. The response prompted it to move quickly and line up all the pieces required to kick off drilling in the second half of next year, pending approvals. Whitebark Energy executive director Richard King said: 'These recent studies demonstrate the low-cost exploration opportunities which are available to Whitebark in its Officer Basin assets. It positions Whitebark to be a leading hydrogen and helium explorer in Australia, while also being positioned to deliver potential new sources of gas supply for Australia's energy security.'
Sydney Morning Herald
27-06-2025
- Business
- Sydney Morning Herald
Whitebark pins down well costs for giant SA hydrogen-helium hunt
Whitebark Energy has fired the starting gun on what could be a huge energy play after finalising a preliminary well design and rig market assessment for its monster Alinya project in South Australia's remote Officer Basin. A detailed engineering study conducted by global energy consultancy Zenith Energy has wrapped up, giving the company a green light to drill its first deep drill hole into its particularly large Rickerscote target. The prospect is a behemoth sub-salt structure spanning more than 180 square kilometres and potentially up to 400 square kilometres. According to the report, the well will need to be drilled to a total depth of 2400 metres and has been priced at a surprisingly modest cost of $7.7 million. For a project of this magnitude, with multiple stacked reservoir targets in play, the estimated price tag is a game-changer and well below industry norms, Whitebark says. Rickerscote is one of the biggest seismically defined onshore structures in Australia, and has headline-grabbing potential to host helium, hydrogen and hydrocarbon resources. However, it is completely undrilled. 'These recent studies demonstrate the low-cost exploration opportunities which are available to Whitebark in its Officer Basin assets.' Whitebark Energy executive director Richard King The company picked up two further targets in the structural depth mapping. Milford and Milford East, directly to the east of Rickerscote, span an impressive 230 square kilometres and 160 square kilometres, respectively. The company says the sheer size of the three prospects combined is comparable to the surface area of other giant Australian fields, such as Barrow Island, Gorgon and Kingfish, which collectively hold as much as 3.7 billion barrels of oil equivalent. Armed with the new report, Whitebark has put out the feelers on rig availability and received multiple responses from contractors confirming open slots for 2026. The response prompted it to move quickly and line up all the pieces required to kick off drilling in the second half of next year, pending approvals. Whitebark Energy executive director Richard King said: 'These recent studies demonstrate the low-cost exploration opportunities which are available to Whitebark in its Officer Basin assets. It positions Whitebark to be a leading hydrogen and helium explorer in Australia, while also being positioned to deliver potential new sources of gas supply for Australia's energy security.'
West Australian
27-06-2025
- Business
- West Australian
Whitebark pins down well costs for giant SA hydrogen-helium hunt
Whitebark Energy has fired the starting gun on what could be a huge energy play after finalising a preliminary well design and rig market assessment for its monster Alinya project in South Australia's remote Officer Basin. A detailed engineering study conducted by global energy consultancy Zenith Energy has wrapped up, giving the company a green light to drill its first deep drill hole into its particularly large Rickerscote target. The prospect is a behemoth sub-salt structure spanning more than 180 square kilometres and potentially up to 400 square kilometres. According to the report, the well will need to be drilled to a total depth of 2400 metres and has been priced at a surprisingly modest cost of $7.7 million. For a project of this magnitude, with multiple stacked reservoir targets in play, the estimated price tag is a game-changer and well below industry norms, Whitebark says. Rickerscote is one of the biggest seismically defined onshore structures in Australia, and has headline-grabbing potential to host helium, hydrogen and hydrocarbon resources. However, it is completely undrilled. The company picked up two further targets in the structural depth mapping. Milford and Milford East, directly to the east of Rickerscote, span an impressive 230 square kilometres and 160 square kilometres, respectively. The company says the sheer size of the three prospects combined is comparable to the surface area of other giant Australian fields, such as Barrow Island, Gorgon and Kingfish, which collectively hold as much as 3.7 billion barrels of oil equivalent. Armed with the new report, Whitebark has put out the feelers on rig availability and received multiple responses from contractors confirming open slots for 2026. The response prompted it to move quickly and line up all the pieces required to kick off drilling in the second half of next year, pending approvals. If Whitebark's broader Alinya project is a sleeping giant, with more than 20 identified prospects, Rickerscote is the company's jewel in the crown. Its massive closure area has the potential to host multiple resource plays stacked across a single structural trap. Whitebark intends to run a 2D seismic infill program later in the year to improve detailed imaging of the prospect, allowing it to further tighten up on the drill target. Management says success at Alinya could open up an entirely new hydrogen, helium and hydrocarbon province for the nation. This could mean fresh export potential to Asia, domestic gas security and a major leap forward in Australia's clean energy credentials. As it ticks off rig contracts, seismic lines and regulatory boxes, Whitebark is poised to turn a bold subsalt vision into a well-defined reality. Is your ASX-listed company doing something interesting? Contact:
Yahoo
17-06-2025
- Business
- Yahoo
KKR to acquire Australia's Zenith Energy from consortium
Investment firm KKR has signed definitive agreements to acquire Australia-based Zenith Energy from a consortium of Pacific Equity Partners, Canada's OPSEU Pension Trust (OPTrust) and the Foresight Group. The strategic partnership will enhance Zenith's ability to expand renewable and hybrid energy solutions throughout Australia's most remote and energy-intensive sectors. Zenith is an independent power producer focusing on sustainable and dependable hybrid power solutions for remote, off-grid clients in the resource sector, as well as urban microgrids for commercial, industrial and residential areas. The company plays a vital role in supporting Australia's extensive off-grid mining industry and has built a robust reputation over its 18 years of operation. It currently offers more than 710MW of contracted capacity across 15 sites, all secured through long-term agreements. KKR is executing the acquisition through its Asia Pacific Infrastructure Investors II Fund. The transaction marks an expansion by the company into the renewable energy sector as it continues to grow its global infrastructure portfolio. KKR Australia and New Zealand (ANZ) infrastructure managing director and head Andrew Jennings stated: 'Zenith's position at the forefront of the energy transition, coupled with its long-term relationships with strategic, high-quality counterparties, make it an ideal investment for our Asia Pacific infrastructure platform. 'Zenith has established itself as one of the clear leaders in deploying and managing hybrid power solutions in Australia, a priority market for KKR in Asia Pacific. We look forward to supporting Zenith and its management team over the next stage of growth and helping them capitalise on the significant opportunity for off-grid renewable power.' The acquisition follows Zenith's recent A$1.9 billion ($1.24 billion) refinancing and upsizing of existing debt facilities, which provided more than A$1 billion in growth capital from various lenders to support new project development within Australia's resource sector. The deal is expected to close by late 2025, pending regulatory approvals. Zenith Energy CEO and managing director Hamish Moffat stated: 'We are excited by the opportunity presented by KKR's investment in the company and its strategy, which is a strong validation of Zenith's capabilities and competitive edge. The investment by KKR will accelerate our growth and ability to service large-scale projects with a broad capital base. 'Today's announcement positions the company to continue providing our distinct value proposition via these unique remote energy solutions to our existing clients, while enabling us to pursue a robust pipeline of new opportunities as Australia's mining sector intensifies its decarbonisation efforts.' In January 2025, AEP entered a strategic partnership worth $2.82bn with KKR and PSP Investments to divest a 19.9% equity interest in its transmission companies in the US states of Ohio, Indiana and Michigan. "KKR to acquire Australia's Zenith Energy from consortium" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
17-06-2025
- Business
- Business Times
KKR buys Australian off-grid power specialist Zenith Energy
[SYDNEY] KKR has agreed to buy Australia's Zenith Energy, a provider of off-grid power systems, from a group including Pacific Equity Partners Pty, Opseu Pension Trust and Foresight Group Holdings. The investment firm did not provide a value for the deal, but said in a statement that it followed Zenith's completion of a A$1.9 billion (S$1.6 billion) refinancing that provided the company with more than A$1 billion of capital to support the development of new projects. KKR will make the investment from its Asia-Pacific Infrastructure Investors II Fund. KKR paid A$1.7 billion at 12 times contracted earnings, according to two people close to the deal. KKR and Zenith declined to comment on the price. Zenith has more than 710 megawatts of contracted capacity with resource-sector clients and urban microgrids, according to Tuesday's statement. The Perth-based company is seeking to help Australia's mining sector speed up efforts to reduce its emissions, chief executive officer Hamish Moffat said. 'Zenith has established itself as one of the clear leaders in deploying and managing hybrid power solutions in Australia, a priority market for KKR in Asia Pacific,' said Andrew Jennings, KKR's managing director and head of Australia & New Zealand Infrastructure. 'Zenith's position at the forefront of the energy transition, coupled with its long-term relationships with strategic, high-quality counterparties, make it an ideal investment for our Asia-Pacific infrastructure platform.' The transaction is expected to close late this year. BLOOMBERG
