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Oil and Gas News

Chevron signs LNG supply deals with Verve, Synergy

By: Esmarie Iannucci     30th November 2011 The Western Australian Chamber of Minerals and Energy (CME) on Wednesday welcomed the signing of a supply agreements between the owner of the Gorgon liquefied natural gas (LNG) project and energy suppliers Verve Energy and Synergy. Verve MD Shirley In’t Veld said that the agreement with Gorgon... 

Woodside predicts 27% increase in production

By: Esmarie Iannucci     25th November 2011 Australian oil and gas company Woodside Petroleum said on Friday that its 2012 production would increase by almost 27%, to between 73-million and 81-million barrels of oil equivalent. In an investor update, the energy mine said that its 2012 production target would be comprised of between... 

Bligh unveils plan to use Queensland LNG royalties for education

By: Esmarie Iannucci     23rd November 2011 Queensland plans to invest 50% of the state’s future liquefied natural gas (LNG) royalties into education, Premier Anna Bligh announced on Wednesday. It was projected that LNG royalties would amount to more than A$1.8-billion within the next ten years alone. 

Nine new offshore petroleum exploration permits issued

By: Esmarie Iannucci     21st November 2011 The federal government has awarded nine new offshore permits in the second round of its Petroleum Exploration Acreage Release, with ASX-listed Woodside coming out as the clear winner. Resources and Energy Minister Martin Ferguson said that the acreage release would allow for a A$380-million... 

Energy World sells 30% stake in Abbot Point facility

By: Esmarie Iannucci     21st November 2011 ASX-listed Energy World Corporation has agreed to divest of 30% of the proposed Abbot Point liquefied natural gas (LNG) facility in exchange for a $30-million investment. Energy World would retain a 70% shareholding in the Abbot Point LNG project, but would sell 15% to Orchid Fund and 15% to... 

Adelaide directors recommend Beach cash offer

By: Esmarie Iannucci     18th November 2011 The directors of ASX-listed Adelaide Energy have unanimously recommended the takeover offer by fellow-listed Beach Energy, in the absence of a superior proposal. Beach announced its 20c-a-share on-market cash offer for Adelaide Energy early this month, and shortly thereafter gained a majority... 

Santos finalises Eastern Star acquisition

By: Esmarie Iannucci     17th November 2011 Australian gas major Santos on Thursday reported that it had completed the A$924-million takeover of fellow listed Eastern Star Gas, giving Santos the largest natural gas reserve position in New South Wales. Santos launched its takeover offer for Eastern Star in July this year, to gain an 80%... 

Origin launches A$500m capital raising

By: Esmarie Iannucci     15th November 2011 ASX-listed Origin Energy has moved to raise A$500-million to assist in funding its contribution of the Australia Pacific liquefied natural gas (LNG) project. Origin on Tuesday lodged a prospectus with the Australian Securities and Investment Commission for the notes, which would be offered to... 

BHP Billiton to spend $4bn on US shale gas assets

By: Esmarie Iannucci     14th November 2011 Diversified miner BHP Billiton plans to spend $4-billion on developing shale gas assets in the US, where it is targeting output of some 545-billion cubic feet equivalent (90-million barrels of oil equivalent) in the 2012 financial year. The mining giant paid nearly $17-billion for Petrohawk... 

Public review starts of draft Browse EIS – Woodside

By: Esmarie Iannucci     14th November 2011 Australian petroleum and gas major Woodside has released a draft environmental-impact statement (EIS) for the upstream component of its Browse liquefied natural gas (LNG) project, for public review. The report concerns the construction, operation and decommissioning of all offshore aspects of... 

Beach moves closer to Adelaide target

By: Esmarie Iannucci     9th November 2011 The shareholders of ASX-listed Adelaide Energy have responded favourably to the takeover bid from fellow-listed Beach Energy, with the latter taking up a 48.36% interest in Adelaide days after making its offer. Beach, which initially held a 19.95% in Adelaide, on Monday offered Adelaide... 

Beach makes A$94m bid for Adelaide

By: Esmarie Iannucci     7th November 2011 ASX-listed Beach Energy has launched a A$94-million takeover offer for fellow-listed Adelaide Energy. Beach on Monday offered Adelaide shareholders 20c a share in cash. It already owns a 19.95% shareholding in the junior oil and gas explorer. 

CSG better for environment than coal, new study finds

By: Esmarie Iannucci     4th November 2011 An independent report commissioned by the Australian Petroleum Production and Exploration Association (Appea) states that coal seam gas had up to 87% less greenhouse gas emissions than coal, contradicting claims by the Australian Greens. The Greens recently launched an anti coal seam gas... 

Onshore gas explorers adopt new code

By: Esmarie Iannucci     4th November 2011 Onshore gas explorers in Western Australia this week adopted a code of practice to set industry standards for the state’s next generation of clean energy production. The Australian Petroleum Production and Exploration Association (Appea) reported that the code, developed by its members, would... 

FIRB extension does not mean delay to Arrow deal – Bow

By: Esmarie Iannucci     3rd November 2011 Australian gas explorer Bow Energy said on Thursday that the Foreign Investment Review Board’s (FIRB’s) extension of the period for making a decision on a takeover by Arrow Energy should not be seen as a premonition to an unfavourable outcome or that the transaction has been delayed. FIRB has... 

Australia LNG production to hit 100Mt/y by 2020

By: Esmarie Iannucci     3rd November 2011 Australia’s liquefied natural gas (LNG) production could increase five times to 100-million ton a year by 2020, energy major Santos, which is building the $16-billion Gladstone project, said on Thursday. Speaking at the Australian Institute of Company Directors, in Brisbane, Santos MD and CEO... 

Australia seen as world’s LNG ‘supermarket’

By: Esmarie Iannucci     31st October 2011 Australia’s natural gas production is expected to triple to over 6 000 petajoules in the next decade, energy economics group EnergyQuest said on Monday. CEO Graeme Bethune said Australia was the world’s liquefied natural gas (LNG) “supermarket”, with more than 15 projects proposed for... 

Cougar says A$34m Qld lawsuit making progress

By: Esmarie Iannucci     31st October 2011 ASX-listed Cougar Energy would press ahead with its strategy of expanding into Asia, while seeking recovery for the shut down of its Kingaroy power plant project, in Queensland, the company said last week. Earlier this month, Cougar launched a A$34-million lawsuit against the Queensland... 

Santos sells off stake in Evans for $350m

By: Esmarie Iannucci     31st October 2011 Australian energy major Santos has sold its interest in the Evans Shoal project, offshore northern Australia, for $350-million to a major international exploration and production company operating in Australia. Santos said in a statement that it would receive a $250-million cash consideration... 

A$20bn pipeline boost seen from CSG and LNG expansion

By: Esmarie Iannucci     24th October 2011 The Australian pipeline industry would benefit from A$20-billion worth of pipeline infrastructure investments, which is expected to flow in tandem with the expansion of coal seam gas (CSG) and liquefied natural gas (LNG) projects in the country, the Australian Pipeline Industry Association (Apia)... 

Higher volumes, prices push up Woodside revenue

By: Esmarie Iannucci     21st October 2011 Australian oil and gas producer Woodside has reported an increase in sales revenue for the quarter ended September, helped by higher sales volumes and liquefied natural gas (LNG) prices. Sales revenue increased by 5% on the previous quarter, and jumped 27% on the previous corresponding period,... 

Santos reports higher Q3 output, sales

By: Esmarie Iannucci     20th October 2011 Australian oil and gas major Santos has increased its production volumes by 7% during the third quarter ended September, while sales volumes increased by 6%. Quarterly production increased to 12.7-million barrels of oil equivalent, on the back of increased oil and gas production at the Cooper... 

Cougar sues Qld govt for A$34m over Kingaroy

By: Esmarie Iannucci     17th October 2011 ASX-listed Cougar Energy will sue the Queensland government and three of its officials for more than A$34-million over the state’s decision to halt the development of the Kingaroy coal gasification trial site. The Queensland Department of Environment and Resource Management (DERM) in July banned... 

Origin secures $500m for Australia Pacific project

By: Esmarie Iannucci     7th October 2011 ASX-listed Origin Energy has successfully priced and allocated a $500-million senior unsecured notes offering in the US market to secure funding for the development of the Australia Pacific liquefied natural gas (LNG) coal seam gas (CSG) to LNG project. The notes would be issued by Origin Energy... 

Consol sells shale royalty for $193m

By: Creamer Media Reporter      26th September 2011 Consol Energy, the US coal and gas producer, on Monday said it agreed to sell its royalty interest in the Marcellus share operation to Antero for $193-million. The 7% royalty was not a part of the joint venture the company entered into with Noble Energy last month, meaning all of the sales... 

Bow directors recommend improved Arrow offer

By: Esmarie Iannucci     26th September 2011 The directors of ASX-listed Bow Energy on Monday advised shareholders to accept an improved offer from fellow-listed Arrow Energy. Arrow Energy increased its offer from A$1.48 a share to A$1.52 a share, following discussions between the two parties.  

Chevron pulls trigger on $29bn Western Australia LNG project 

By: Esmarie Iannucci     26th September 2011 US energy major Chevron on Monday announced the development of one of Australia’s largest-ever resources projects, as it gave the green light for a $29-billion liquefied natural gas (LNG) investment in Western Australia. This project, which would create 6 500 jobs at peak construction, would... 

First oil for Okha - Woodside

By: Esmarie Iannucci     26th September 2011 Australian oil major Woodside has started oil production at its Okha floating production storage and offloading vessel, 135 km off Karratha, in Western Australia. The ASX-listed Woodside said on Monday that the hook-up, testing and commissioning of the Okha facility had been completed, with the... 

Eastern Star recommends Santos offer

By: Esmarie Iannucci     26th September 2011 The directors of ASX-listed Eastern Star have recommended that shareholders accept a takeover offer from oil and gas major Santos. During July this year, Santos made a A$924-million takeover offer for Eastern Gas to acquire an 80% ownership of the company’s coal seam gas permits in the Gunnedah... 

Diesel delivers new benefits for mining clients

23rd September 2011 Global oil giant Shell Australia says its advanced fuel product, Shell Diesel Extra, is now available to the Australian mining sector. 

$25bn Wheatstone LNG project gets final environ approval

By: Esmarie Iannucci     22nd September 2011 The Australian government on Thursday approved US major Chevron’s $25-billion Wheatstone liquefied natural gas (LNG) project in the Pilbara. Environment Minister Tony Burke said that he had approved the project, but that the company would have to adhere to 70 conditions. 

Santos and Magellan announce NT asset swap agreement

By: Esmarie Iannucci     16th September 2011 Australian oil and gas major Santos and US-based Magellan Petroleum have agreed to swap assets in the Northern Territory gas fields. Santos would transfer its 48% interest in the Palm Valley Field and its 66% interest in the Dingo field to Magellan, while Magellan would transfer its 35% interest... 

Chevron inks Wheatstone offtake agreement

By: Esmarie Iannucci     16th September 2011 The Australian subsidiary of US-based energy major Chevron has signed a sale and purchase agreement (SPA) with Japan’s Kyushu Electric Power Company for the delivery of liquefied natural gas (LNG) from the Wheatstone project, in Western Australia. Under the binding agreement, Chevron, along with... 

Senate gives nod to single offshore petroleum regulator

By: Esmarie Iannucci     16th September 2011 The federal government has succeeded in its reform agenda for the offshore petroleum industry, after the Senate passed the legislative package which would establish a single national regulator for offshore petroleum activities. Resources and Energy Minister Martin Ferguson said that the... 

Queensland readies for increased gas production

By: Esmarie Iannucci     12th September 2011 The Queensland state government has reported that its gas market would continue to grow, fuelled by increased demand to meet domestic and industrial gas supply, electricity generation and the emerging liquefied natural gas (LNG) export industry. In its 2011 Gas Market Review Report, released on... 

Linc Energy launches 5% share buy-back

By: Esmarie Iannucci     12th September 2011 ASX-listed liquefied natural gas (LNG) firm Linc Energy has announced its intention to conduct an on-market buy-back of up to 5% of the company’s fully paid ordinary shares as a capital management strategy. CEO and MD Peter Bond said on Monday that the company remained focused on delivering its... 

Company offers underground oil sampling service

9th September 2011 Oil analysis company WearCheck has introduced a new oil sampling service focused specifically on the mining industry. 

Market analyst predicts financial market slump that will wreak havoc on commodities

By: Jonathan Faurie     2nd September 2011 Global market analyst Natixis Commodities Markets (NCM) warns of a ‘rocky road’ ahead for the global financial markets, which could wreak havoc on commodities as demand will slow.  

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