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8412.0 - Mineral and Petroleum Exploration, Australia, Jun 2015  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 31/08/2015   
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NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
September 2015 30 November 2015
December 2015 29 February 2016
March 2016 30 May 2016
June 2016 29 August 2016



CHANGES TO THIS ISSUE
  • The March quarter estimate for Petroleum Exploration has been revised downwards. As a result, the seasonally adjusted total value for Petroleum Exploration was revised down by $99.9m (-8.9%). The estimate for Offshore Petroleum Exploration has been revised down by $80.0m (-10.2%) and the Western Australia Petroleum Exploration figure has been revised down by $80.6m (-14.5%). These revisions are due to updated information received from our respondents.


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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure fell 10.9% (or -$41.2m) to $336.2m in the June quarter 2015. The largest contributor to the fall in the trend estimate this quarter was Western Australia (down 12.1% or -$26.6m). The current quarter estimate is 28.0% lower than the June quarter 2014 estimate.

The seasonally adjusted estimate for mineral exploration expenditure fell 13.9% (or -$51.8m) to $322.0m in the June quarter 2015. The largest contributors to the fall this quarter were Western Australia (down 13.9% or -$30.2m) and South Australia (down 57.0% or -$14.6m).

MINERAL EXPLORATION, Seasonally adjusted and trend
Graph: Mineral Exploration (Time Series Estimate): Expenditure and Metres Drilled, ; Total deposits , Australia


In original terms, mineral exploration expenditure rose 8.5% (or +$27.0m) to $344.0m in the June quarter 2015. Exploration on areas of new deposits rose 25.3% (or +$23.0m) and expenditure on areas of existing deposits rose 1.3% (or +$3.0m).

In original terms, the largest increase by minerals sought came from expenditure on gold (up 22.7% or +$20.8m). The next largest increase came from expenditure on coal (up 15.4% or +$6.7m).

MINERAL EXPLORATION, Original series
Graph: MINERAL EXPLORATION, Original series



METRES DRILLED

The trend estimate for metres drilled fell 3.2% in the June quarter 2015. The current quarter estimate is 6.5% lower than the June quarter 2014 estimate.

The seasonally adjusted estimate for metres drilled fell 4.3% in the June quarter 2015.

METRES DRILLED, Seasonally adjusted and trend
Graph: METRES DRILLED, Seaonally adjusted and trend


In original terms, metres drilled rose 35.0%. Drilling in areas of new deposits rose 81.0% and drilling in areas of existing deposits rose 22.7%.

METRES DRILLED, Original series
Graph: METRES DRILLED, Original series



PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure fell 12.7% (or -$119.6m) to $821.3m in the June quarter 2015. Exploration expenditure on production leases fell 21.2% (or -$40.8m), while exploration expenditure on all other areas fell 9.2% (or -$68.8m).

The seasonally adjusted estimate for total petroleum exploration expenditure fell 31.3% (or -$320.0m) to $702.8m in the June quarter 2015. Exploration expenditure on production leases fell 38.7% (or -$79.7m) and exploration expenditure on all other areas fell 29.4% (or -$240.3m).

The largest contributor to the decrease in the trend estimate was Western Australia (down 11.1% or -$54.7m) and the largest contributor to the fall in the seasonally adjusted estimate was South Australia (down 52.1% or -$79.5m).

PETROLEUM EXPLORATION, Seasonally adjusted and trend
Graph: PETROLEUM EXPLORATION, Seasonally adjusted and trend



ONSHORE

The trend estimate for onshore petroleum exploration expenditure fell 9.0% (or -$28.5m) to $288.5m in the June quarter 2015. Expenditure on drilling fell 1.6% (or -$3.1m), while other onshore petroleum exploration expenditure fell 20.3% (or -$24.1m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure fell 17.9% (or -$57.1m) to $261.7m in the June quarter 2015. Expenditure on drilling fell 3.4% (or -$6.5m), and other onshore petroleum exploration fell 40.0% (or -$50.7m).

PETROLEUM EXPLORATION: ONSHORE, Seasonally adjusted and trend
Graph: PETROLEUM EXPLORATION: ONSHORE, Seasonally adjusted and trend



OFFSHORE

The trend estimate for offshore petroleum exploration expenditure fell 13.7% (or -$85.5m) to $538.1m in the June quarter 2015. Expenditure on drilling fell 19.8% (or -$93.8m), while other offshore petroleum exploration expenditure rose 5.6% (or +$8.4m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure fell 37.3% (or -$262.9m) to $441.1m in the June quarter 2015. Expenditure on drilling fell 41.9% (or -$217.9m), and other offshore petroleum exploration expenditure fell 24.5% (or -$45.0m).

PETROLEUM EXPLORATION: OFFSHORE, Seasonally adjusted and trend
Graph: PETROLEUM EXPLORATION: OFFSHORE, Seasonally adjusted and trend



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Commonwealth of Australia 2015

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