8412.0 - Mineral and Petroleum Exploration, Australia, Mar 2018  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 04/06/2018   
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SUMMARY COMMENTARY


MINERAL EXPLORATION (OTHER THAN FOR PETROLEUM)


TOTAL EXPENDITURE

The trend estimate for total mineral exploration expenditure increased 4.9% ($23.5m) to $498.5m in the March quarter 2018. The largest contributor to the increase in the trend estimate this quarter was Western Australia (up 4.0%, $11.5m). The current quarter estimate is 24.4% higher than the March quarter 2017 estimate.

The seasonally adjusted estimate for mineral exploration expenditure rose 11.0% ($51.4m) to $516.7m in the March quarter 2018. The largest contributor to the rise this quarter was Western Australia (up 8.3%, $23.7m).

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 fell 11.6% (-$57.4m) to $438.7m in the March quarter 2018. Exploration on areas of new deposits fell 10.6% (-$17.3m) and expenditure on areas of existing deposits fell 12.0% (-$40.1m).

In original terms, the largest decrease by minerals sought came from expenditure on gold (down 10.3%, -$21.5m).

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



METRES DRILLED

The trend estimate for metres drilled rose 2.4% in the March quarter 2018. The current quarter estimate is 13.5% higher than the March quarter 2017 estimate.

The seasonally adjusted estimate for metres drilled rose 9.4% in the March quarter 2018.

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


In original terms, metres drilled fell 14.8%. Drilling in areas of new deposits fell 17.5% and drilling in areas of existing deposits fell 13.3%.

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



PETROLEUM EXPLORATION


TOTAL EXPENDITURE

The trend estimate for total petroleum exploration expenditure fell 21.0% (-$49.9m) to $187.6m in the March quarter 2018. Exploration expenditure on production leases fell 3.8% (-$2.0m) and exploration expenditure on all other areas fell 21.8% (-$40.2m).

The seasonally adjusted estimate for total petroleum exploration expenditure fell 23.3% (-$55.0m) to $181.4m in the March quarter 2018. Exploration expenditure on production leases rose 8.2% ($4.1m) and exploration expenditure on all other areas fell 31.7% (-$59.2m).

The largest contributor to the decrease in the trend estimate was Western Australia (down 14.9%, -$17.2m) and the largest contributor to the fall in the seasonally adjusted estimate was Western Australia (down 41.0%, -$33.7m).

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



ONSHORE

The trend estimate for onshore petroleum exploration expenditure fell 13.2% (-$10.8m) to $71.2m in the March quarter 2018. Expenditure on drilling fell 5.7% (-$2.8m) and other onshore petroleum exploration expenditure fell 22.6% (-$7.4m).

The seasonally adjusted estimate for onshore petroleum exploration expenditure fell 2.3% (-$1.8m) to $76.0m in the March quarter 2018. Expenditure on drilling rose 9.0% ($4.3m) and other onshore petroleum exploration fell 20.3% (-$6.1m).

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 23.3% (-$36.2m) to $119.2m in the March quarter 2018. Expenditure on drilling fell 50.3% (-$31.5m) and other offshore petroleum exploration expenditure fell 5.2% (-$4.8m).

The seasonally adjusted estimate for offshore petroleum exploration expenditure fell 33.5% (-$53.2m) to $105.4m in the March quarter 2018. Expenditure on drilling fell 56.9% (-$33.7m) and other offshore petroleum exploration expenditure fell 19.6% (-$19.5m).

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



NOTES

FORTHCOMING ISSUES

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



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