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per cent royalty only after the first five years, which then increases by 1 per cent every year until 10 per cent is reached.
''There were a few things within the royalty structure we said we were going to review,'' the spokesman said yesterday.
The 89 wells around AGL's Camden coal seam gas field generated about $400,000 in royalties last year.
STATE government coffers stand to be boosted by hundreds of millions of dollars each year after it confirmed it was going ahead with a review Flyknit Free 4.0 Oreo
In Queensland, coal seam gas producers must pay a 10 per cent royalty from the beginning of production. NSW producers are required to pay a 5 Flyknit Free 4.0 On Feet
each year after it confirmed it was going ahead with a review of a moratorium on coal seam gas royalties that has been in place since the early 1990s.
The Pilliga site is being investigated by the NSW Department of Trade and Investment, Regional Infrastructure and Services after black tar like substances appeared throughout the Pilliga State Forest in and around where Eastern Star Gas, which was officially acquired by Santos in November, has been conducting exploratory drilling.
of a moratorium on coal seam gas royalties that has been in place since the early 1990s.
While the NSW Greens welcomed the review, the party's spokesman on rural water and mining, Jeremy Buckingham, said it was news to them.
The coal seam gas producer Santos is forging ahead with its plan to drill up to 500 coal seam gas wells in northern NSW.
''You have a minister announcing a review and then saying this is old news,'' he said.
''In effect, one multi stacked well is equivalent to two or three single laterals. So 300 of these wells could be equivalent to around 900 single lateral wells,'' Mr Doman said.
The royalty estimates, which were revealed during the government's coal seam gas inquiry last year, were also based on the current gas price in eastern Australia rising from $3 4 per gigajoule to between $6 9 per gigajoule.
''They are widely over estimating the amount of gas that is going to come out of those wells or they're not fully disclosing how many coal seam gas wells they actually plan to have in NSW, and I think it is the latter,'' he said.
Mr Hartcher hinted at the review on radio last year, but his spokesman said no details of when and how the review would be conducted had been released.
But Mr Buckingham said Santos's figures did not add up.
Mr Doman rejected the Greens' claim, saying the royalty calculations were based on the combination of the quality of the gas resources, the technology that they would use to extract that gas, and how much they could sell it for.
A spokesman for Santos, Matthew Doman, said the dramatic increase in production would be the result of multi stacked lateral wells, which contain several wells that can extend both vertically and horizontally off a single drilling pad, and be drilled into some of the thickest and richest deep coal seams in Australia.
But months after the Energy and Resources Minister, Chris Hartcher, signalled a change in the policy, no details of the review have been released.
Santos estimates its project to drill between 200 and 500 wells in and around the Pilliga district in northern NSW would generate about $150 million in royalties each year, making each well up to 60 times more productive than any other gas well in the state.
Rise in gas royalties could lead to windfall
STATE government coffers stand to be boosted by hundreds of millions of dollars Nike Free Rn Flyknit Black/Blue Glow/Hyper Punch/White
''This five year royalty free holiday has always been a perverse sweetener for an industry that no one wanted,'' Mr Nike Flyknit 4.0 Green Buckingham said.
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