A survey completed at a basin off the coast of Australia thought to hold at least 1 billion barrels of reserves. Image courtesy of Melbana Energy Aug. 14 (UPI) — Australian energy company Melbana said Tuesday that a survey of the Beehive prospect, with more than 1 billion barrels of estimated reserves, is complete. Working in coordination with Australian energy company Santos and French supermajor Total, Melbana said the survey was completed safely and without incident. Seismic surveys are used to get a better understanding of the reserve potential in a prospect. Describing Beehive as potentially one of the largest untapped reserves in Australia, the company said it was anticipating positive results for a basin thought to hold as much as 1.6 billion barrels of oil equivalent. “We look forward to reviewing the data obtained in conjunction with Santos and Total in due course and to notification of their […]