Shell Plc (SHEL)

[eFinanceMarkets]

Shell to drill 160-plus new Australia wells to shore up gas supply
Royal Dutch Shell (RDS.A, RDS.B) says it will drill 161 new gas wells at its Queensland operations by the end of 2018, backing up its pledge to continue supplying 10% of the domestic gas market to help prevent a shortage.
The project at Shell's QGC operations in the Surat Basin has been planned for some time as existing wells decline, and the new wells will help sustain the company's 75 petajoules/year of gas supplies to eastern Australia's gas market.
Shell Australia Chairman Andrew Smith says onshore production in Queensland will allow businesses there to pay less than others further south where onshore drilling has been banned or restricted.