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Oil and Gas News

Woodside may sell minority stake in Browse

By: Esmarie Iannucci     27th January 2012 Australian oil and gas producer Woodside Petroleum on Friday confirmed that it was “assessing the potential sale” of a minority portion of its equity in the Browse liquefied natural gas (LNG) project, off the coast of Western Australia. Responding to media speculation, Woodside said that it had... 

Company receives funding for exploration in SA

By: Esmarie Iannucci     27th January 2012 Emerging coalbed methane (CBM) developer Sunbird Energy was fully funded to start exploration work on its two flagship projects in South Africa, following its successful initial public offering (IPO) at the end of last year. 

China’s Sinopec ups stake in Australian LNG project

By: Esmarie Iannucci     23rd January 2012 The joint venture (JV) partners in the Australia Pacific liquefied natural gas (APLNG) project would rake in some $1.1-billion as China Petrochemical Corporation (Sinopec) upped its stake in the project. ASX-listed Origin Energy and its JV partner ConocoPhillips on Monday made good on its... 

Woodside production drops by 6%

By: Esmarie Iannucci     19th January 2012 Australian oil and gas producer Woodside Petroleum on Wednesday reported a 6% decline in production, compared with the previous corresponding period. During the three months ended December, Woodside produced some 16.6-million barrels of oil equivalent, which was a 3% increase on the previous... 

Santos reports higher sales for Dec quarter

By: Esmarie Iannucci     19th January 2012 Oil and gas major Santos has reported increased sales revenue for the three months to December, despite a decrease in production. During the December quarter, Santos produced 11.7-million barrels of oil equivalent, an 8% decline on the previous quarter, and a 9% decline on the previous... 

Santos approves A$490m WA oil project

By: Esmarie Iannucci     16th January 2012 Oil and gas major Santos has approved a A$490-million investment into its Fletcher Finucane oil project, offshore Western Australia. CEO David Knox said the development approval of Fletcher Finucane had come little more than six months after the discovery of the Finucane South field, reflecting... 

Linc confirms talks with 'cornerstone investor'

By: Esmarie Iannucci     16th January 2012 Diversified energy company Linc Energy on Monday confirmed that it was “pursuing a number of divestment opportunities” for its coal tenements in Queensland. In a response to a price query by the ASX, Linc noted that the company has engaged in discussions with a potential cornerstone investor,... 

Inpex, Total approve A$34bn Australian LNG project

By: Esmarie Iannucci     13th January 2012 Resources and Energy Minster Martin Ferguson on Friday welcomed the final investment decision on the A$34-billion Ichthys liquefied natural gas (LNG) project by Japan’s Inpex and its joint venture (JV) partner Total. The Ichthys project is the largest single investment by Japan and France in... 

Inpex, Total ink sales deals for Ichthys LNG project

By: Esmarie Iannucci     10th January 2012 Japan’s Inpex and its joint venture (JV) partner Total have signed further sales agreements for the Ichthys liquefied natural gas (LNG) project with the CPC Corporation of Taiwan, Chubu Electric Power Company, and Toho Gas Company. Under the sales and purchase agreements, the Ichthys LNG project... 

First gas flows at Beach’s Middleton project

By: Esmarie Iannucci     9th January 2012 ASX-listed Beach Energy has produced its first gas from the Middleton project, in South Australia, the firm reported on Monday. MD Reg Nelson said in a statement that gas was now flowing to the Moonanga tie-in point, where raw gas would be sold to the South Australian Copper Basin joint venture... 

Hastings rejects APA takeover

By: Esmarie Iannucci     15th December 2011 ASX-listed Hastings Fund Management has rejected a takeover bid by Australia’s largest gas pipeline owner APA Group. Earlier this week, APA announced its intention to make a takeover offer for all the securities of Hastings which it did not already own, at a price of 0.326 APA securities and 50c... 

Gas pipeline firm APA bids for Hastings in A$1.8bn deal

By: Esmarie Iannucci     14th December 2011 Australia’s largest gas pipeline owner APA Group has launched an off-market takeover offer for Hastings Diversified Utilities Fund, which values the company at around A$1.8-billion. Under the terms of the offer, Hastings shareholders would receive 0.326 APA shares, and 50c in cash for every... 

Origin and ConocoPhillips sells off stake in APLNG

By: Esmarie Iannucci     12th December 2011 ASX-listed Origin Energy and its joint venture (JV) partner ConocoPhillips have agreed to sell down a combined 10% shareholding in the Australia Pacific liquefied natural gas (APLNG) project to China Petrochemcial Corporation (Sinopec). Sinopec has agreed to subscribe for additional shares in... 

Japanese offtake deal seen as boost for Ichthys LNG project

By: Esmarie Iannucci     8th December 2011 The Australian liquefied natural gas (LNG) sector is one step closer to becoming one of the world’s biggest exporters, after Japan’s Inpex and Total secured a 15-year sales and purchase agreement with five Japanese power supply companies. Inpex and Total would supply LNG from the proposed... 

A$2.5bn North West shelf expansion approved

By: Esmarie Iannucci     8th December 2011 The participants in the North West Shelf project on Thursday gave the go-ahead for the A$2.5-billion first phase of the Greater Western Flank (GWF) project, off the north-west coast of Australia. The GWF Phase 1 project would develop the Goodwyn GH and Tidepole fields through a subsea tie-back... 

Santos establishes training partnership for LNG market

By: Esmarie Iannucci     7th December 2011 Australian energy major Santos has agreed to a A$1-million training partnership with Queensland’s Training and Further Education (TAFE) to establish a specialised coal seam gas (CSG) operations training centre in Brisbane. “In the first year of operation, we are aiming to train up to 90 people... 

Sino Gas raises funds for appraisal programme

By: Esmarie Iannucci     7th December 2011 China-focused Sino Gas has completed a A$6-million placement and share purchase plan (SPP) to fund the company’s appraisal programme. Shareholders on Tuesday voted in favour of the SPP and the second tranche of the placement, which together represented a total fund of A$2.4-million. The first... 

Queensland boosts LNG agreements

By: Esmarie Iannucci     7th December 2011 The Queensland government on Wednesday reported that its ability to supply the state’s liquefied natural gas (LNG) products to South East Asia had been given a major boost with a landmark deal signed with a major Vietnamese gas company. Speaking at the Queensland International Gas Symposium,... 

Santos produces first gas at Reindeer

By: Esmarie Iannucci     6th December 2011 Energy major Santos on Tuesday reported that the first natural gas from the offshore Reindeer field, in the Carnarvon basin, was delivered to the Dampier and Bunbury natural gas pipeline. The delivery of the gas, processed at the onshore Devil Creek plant, marked a major milestone in the... 

LNG producers create A$13.5m social infrastructure fund

By: Esmarie Iannucci     5th December 2011 Gladstone's major liquefied natural gas (LNG) players would contribute some A$13.5-million to a trust fund set up to boost social infrastructure across the region. Australia Pacific LNG, QGC and Santos’ Gladstone LNG would collectively contribute the funds, while ASX-listed Arrow Energy has also... 

Beach moves to compulsory acquisition of Adelaide

By: Esmarie Iannucci     2nd December 2011 ASX-listed Beach Energy would now move to a compulsory acquisition of fellow listed Adelaide Energy after acquiring a 90.1% relevant interest in the takeover target. Beach launched its 20c-a-share on-market cash offer for Adelaide in November this year, valuing the company at around... 

Scramble to replenish feedstock for Mossel Bay refinery

By: Joanne Taylor     2nd December 2011 South Africa’s national oil company PetroSA will look at importing feedstock from Mozambique to replenish its Mossel Bay gas-to-liquids (GTL) refinery, if it is not granted exploration rights for potential gas pockets off the Cape coast. 

Slovenia gas project preparing well for production

2nd December 2011 Europe-focused oil and gas explorer and producer Ascent Resources will prepare the Pg-11A well at its Petišovci project, in Slovenia, for production with the installation of a customised production string to optimise the flow rate and gas recovery. 

Company focused on acquiring troubled gas projects

2nd December 2011 US-based gas exploration company High Plains Gas (HPG) plans to build stockholder value through profitable growth in reserves and production, which will include investing in and developing existing programmes as well as growth through exploration and acquisitions, focusing on acquiring,... 

New possibilities for CBM in Botswana

2nd December 2011 Upstream entity of the Sasol group Sasol Petroleum International (SPI) has entered into a joint venture (JV) with Australian energy company Origin Energy to explore coalbed methane (CBM) in Botswana. 

Gas exploration in South Africa to yield fruitful results

By: Joanne Taylor     2nd December 2011 Significant gas-related developments are expected in South Africa in the coming years, as numerous new surveys have been conducted offshore in previously underexplored areas, reports exploration developer Petroleum Agency South Africa (Pasa). 

ACCC approves Arrow's bid for Bow

By: Esmarie Iannucci     1st December 2011 The Australian Competition and Consumer Commission (ACCC) on Thursday said that it would not oppose the acquisition of ASX-listed Bow Energy by fellow listed Arrow Energy. Arrow, which is jointly owned by Royal Dutch Shell and PetroChina, launched a A$535-million takeover offer for Bow Energy in... 

Chevron breaks ground at Wheatstone

By: Esmarie Iannucci     1st December 2011 Western Australian Premier Colin Barnett on Thursday hailed the start of site works at US major Chevron’s $29-billion Wheatstone liquefied natural gas (LNG) project as an exciting milestone for the state. At the groundbreaking ceremony at the Ashburton North strategic industrial area, Barnett... 

First Mile Wireless—Extending the Office Experience to the Wellhead

By: Creamer Media Reporter      30th November 2011 The oil and gas industry has been working toward the digital oil field of the future, with the goal of being able to monitor and manage in real time all operational activities along the entire oil value chain. 

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... 

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