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Northbridge Industrial Services Plc

The next ‘Ferrari of Shale’ may be hiding in the NT outback

In a remote corner of the outback, a drilling crew will soon try tapping shale rocks that could hold more than three times the world’s annual consumption of natural gas.

Origin Energy plans to drill two wells later this year in the Northern Territory’s Beetaloo Basin, after the local government ended a three-year ban on fracking — the controversial practice of extracting oil and gas from layers of shale rock deep underground.

With an estimated 500 trillion cubic feet of gas, Beetaloo has been compared to famed US shale regions such as Marcellus and Barnett.

 

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.

 

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.