8412.0 - Mineral and Petroleum Exploration, Australia, Sep 2018  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 03/12/2018   
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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure increased 3.6% ($19.4m) to $561.4m in the September quarter 2018. The largest contributor to the increase in the trend estimate this quarter was Western Australia (up 4.7%, $15.5m). The current quarter estimate is 25.7% higher than the September quarter 2017 estimate.

The seasonally adjusted estimate for mineral exploration expenditure fell 1.7% (-$9.3m) to $547.4m in the September quarter 2018. The largest contributor to the fall this quarter was New South Wales (down 11.9%, -$7.8m).

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 2.5% ($14.3m) to $582.1m in the September quarter 2018. Exploration on areas of new deposits rose 13.0% ($25.7m) and expenditure on areas of existing deposits fell 2.0% (-$7.5m).

In original terms, the largest increase by minerals sought came from expenditure on gold (up 8.5%, $18.8m).

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



METRES DRILLED

The trend estimate for metres drilled rose 5.8% in the September quarter 2018. The current quarter estimate is 22.5% higher than the September quarter 2017 estimate.

The seasonally adjusted estimate for metres drilled rose 7.1% in the September quarter 2018.

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


In original terms, metres drilled rose 6.0%. Drilling in areas of new deposits rose 7.2% and drilling in areas of existing deposits rose 5.8%.

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



PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure rose 14.5% ($39.9m) to $314.3m in the September quarter 2018. Exploration expenditure on production leases rose 18.3% ($11.3m) and exploration expenditure on all other areas rose 12.3% ($26.2m).

The seasonally adjusted estimate for total petroleum exploration expenditure fell 6.6% (-$21.5m) to $305.6m in the September quarter 2018. Exploration expenditure on production leases rose 63.6% ($32.9m) and exploration expenditure on all other areas fell 19.8% (-$54.4m).

The largest contributor to the increase in the trend estimate was Western Australia (up 18.2%, $29.2m) and the largest contributor to the fall in the seasonally adjusted estimate was Western Australia (down 16.0%, -$33.8m).

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



ONSHORE

The trend estimate for onshore petroleum exploration expenditure rose 10.7% ($9.9m) to $102.6m in the September quarter 2018. Expenditure on drilling rose 19.2% ($12.1m) and other onshore petroleum exploration expenditure fell 7.1% (-$2.1m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure rose 0.7% ($0.7m) to $101.4m in the September quarter 2018. Expenditure on drilling rose 40.7% ($23.8m) and other onshore petroleum exploration fell 55.1% (-$23.3m).

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



OFFSHORE

The trend estimate for offshore petroleum exploration expenditure rose 15.6% ($28.3m) to $210.0m in the September quarter 2018. Expenditure on drilling rose 27.1% ($25.7m) and other offshore petroleum exploration expenditure rose 3.0% ($2.6m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure fell 9.8% (-$22.2m) to $204.2m in the September quarter 2018. Expenditure on drilling fell 19.8% (-$27.3m) and other offshore petroleum exploration expenditure rose 5.8% ($5.1m).

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


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
December 2018 4 March 2019
March 2019 3 June 2019
June 2019 2 September 2019
September 2019 2 December 2019



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