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Oil and Gas News

$15bn PNG gas project on track, says Search Oil

By: Esmarie Iannucci     26th July 2011 ASX-listed Search Oil Search on Tuesday reported that its $15-billion Papua New Guinea (PNG) liquefied natural gas (LNG) project was on track to start up during 2014. Commenting on the activities at the PNG site during the quarter ended June, MD Peter Botten said that following over a year of... 

BHP says waiting period for $12bn Petrohawk bid cut

By: Esmarie Iannucci     26th July 2011 Diversified giant BHP Billiton would be filing its takeover offer documents for shale gas company Petrohawk Energy with the US Securities and Exchange Commission (SEC) on Tuesday, after the mandatory waiting period was reduced. The mining conglomerate said that it had received a notice from the... 

Santos reports higher June quarter production, sales

By: Esmarie Iannucci     21st July 2011 Oil and gas major Santos on Thursday reported an 8% increase in production and an 11% increase in sales for the quarter ended June, compared with the previous quarter. During the three months to June, Santos produced 11.9-million barrels of oil equivalent, and sold around 14.5-milllion barrels... 

Linc walks away from US oil deal with ERG

By: Esmarie Iannucci     20th July 2011 ASX-listed liquefied natural gas (LNG) firm Linc Energy has walked away from an agreement to buy oil field assets in Texas and Louisiana from ERG Resources, after completing a due diligence. Linc said on Wednesday that it had exercised its contractual right to terminate the transaction after... 

Swan says carbon price to encourage LNG investments

By: Esmarie Iannucci     19th July 2011 The Australian liquefied natural gas (LNG) industry is expected to grow as a result of the introduction of a tax on carbon emissions, federal Treasurer Wayne Swan said on Tuesday. Speaking at a visit to the Gladstone port, Swan again gave the assurance that the Australian coal and LNG industry... 

Santos to buy Gunnedah basin coal seam gas firm Eastern Star

By: Esmarie Iannucci     18th July 2011 Australian oil and gas major Santos has made a A$924-million takeover offer for fellow listed Eastern Star Gas to gain an 80% ownership of the company’s coal seam gas permits in the Gunnedah basin, in New South Wales. The acquisition of Eastern Star Gas would be conducted through a recommended... 

BHP to buy US shale gas firm Petrohawk for $12bn, sees more deals

By: Esmarie Iannucci     15th July 2011 Diversified resources group BHP Billiton has made a $12.1-billion play for Petrohawk Energy, giving it access to oil and shale gas assets in Texas and Louisiana. BHP unveiled the $38.75-a-share all-cash deal on Friday, which values the US shale gas producer at $15.1-billion, including the... 

US group invests in WA shale gas project

By: Esmarie Iannucci     14th July 2011 US-based oil and gas major ConocoPhillips has signed a non-binding agreement to fund up to $109.5-million of ASX-listed New New Standard’s flagship Goldwyer shale gas project, in Western Australia. The funding would be done over four phases of unconventional hydrocarbon exploration work,... 

Beach upbeat about Cooper basin shale gas project

By: Esmarie Iannucci     12th July 2011 ASX-listed oil and gas company Beach Energy said on Tuesday that a significant gas flow of up to two-million cubic feet a day has been achieved from its Holdfast-1 exploratory shale gas well, in the Cooper basin. Hot water, steam and low levels of gas started to flow from the Holdfast-1 well on... 

Carbon tax forces LNG investors to look elsewhere, industry body warns

By: Esmarie Iannucci     11th July 2011 The Australian liquefied natural gas (LNG) industry on Monday warned that investors may turn away from Australia to invest in Qatar, Malaysia and Indonesia because of the carbon tax. Prime Minister Julia Gillard on Sunday announced a A$23/t carbon tax which would be imposed on the 500 largest... 

Forbes Coal to list on JSE

By: Loni Prinsloo     11th July 2011 TSX-listed Forbes & Manhattan Coal (Forbes Coal) has received approval for a secondary listing on the JSE on July 28, the company announced on Monday. Forbes Coal CEO and president Stephan Theron said that a listing in Johannesburg was a “natural step” for the company as an emerging southern... 

Six firms awarded Australian petroleum exploration permits

By: Esmarie Iannucci     8th July 2011 Federal Resources and Energy Minster Martin Ferguson on Friday granted petroleum exploration permits to six companies, including US-based Chevron, Apache and Thailand’s PTT Exploration and Production. The six companies have been given a total of ten permits to explore for oil and gas in... 

Karoon to start WA drilling campaign in Q4

By: Esmarie Iannucci     4th July 2011 Oil and gas developer Karoon Gas has received the nod from the Department of Sustainability, Environment, Water, Population and Communities to start drilling at its three Browse basin blocks, in Western Australia. The company said that it would quickly move to phase two of its drilling programme. 

Woodside agrees native title deal for Browse LNG project

By: Esmarie Iannucci     30th June 2011 Australian oil and gas major Woodside has signed a native title agreement to enable the establishment of its Browse liquefied natural gas (LNG) project, near James Price Point, in Western Australia. The agreement, between Woodside, the state government and the Goolarabooloo Jabirr Jabirr native... 

Bligh inks deal with Texas, positioning Qld as Asia Pacific energy hub

By: Esmarie Iannucci     29th June 2011 Queensland Premier Anna Bligh has signed an agreement with Texas Governor Rick Perry that would enhance the oil and gas networks between the two regions. Queensland was positioning itself to become an energy hub for the Asia Pacific, said Bligh. 

Burke approves Ichthy gas project off coast of WA

By: Esmarie Iannucci     28th June 2011 The federal government has given environmental approval to oil and gas producer Inpex’s Ichthy gas project, off the coast of Western Australia. Environment Minister Tony Burke said on Tuesday that he had approved the proposal, including the development of the gas field facility, a pipeline and... 

Woodside’s Pluto project faces another delay, costs escalate

By: Esmarie Iannucci     17th June 2011 Australian oil and gas major Woodside Petroleum on Friday warned of a cost blow-out for its proposed Pluto liquefied natural gas (LNG) project, following a review of the progress on the project. The first LNG cargo shipment has also now been delayed until March 2012, from the previous schedule... 

Chevron’s $25bn Wheatstone LNG project gets EPA nod

By: Esmarie Iannucci     15th June 2011 The Environment Protection Authority (EPA) of Western Australia has given the green light for the development of the $25-billion Wheatstone liquefied natural gas (LNG) project, by oil major Chevron. EPA chairperson Paul Vogel said on Wednesday that the project could be implemented with stringent... 

BHP Billiton starts oil production in Gulf of Mexico

By: Brindaveni Naidoo     7th June 2011 As the first company to bring a newly drilled well into production in the Gulf of Mexico, since a moratorium was enacted in May 2010, BHP Billiton Petroleum said on Tuesday it was producing about 17 000 bbl/d of oil in the Shenzi field. Production from this well, which is the eleventh producing... 

BHP pays $30m for another 25% stake in WA gas project

By: Esmarie Iannucci     2nd June 2011 Mining giant BHP Billiton has spent $30.1-million on acquiring a further 25% stake in a gas exploration licence off the coast of Western Australia, from ASX-listed Tap Oil. BHP now holds an 80% stake in the gas exploration joint venture (JV). 

Queensland enters ‘new gas age’ as $16bn LNG gets off the ground

By: Esmarie Iannucci     27th May 2011 Oil major Santos on Friday officially started construction at the Gladstone liquefied natural gas (GLNG) project, on Curtis Island. The $16-billion project was officially launched at a ceremony attended by Prime Minister Julia Gillard and Queensland Premier Anna Bligh, who hailed the project as... 

Samrad designed to clean up South Africa’s minerals application process  

By: Jonathan Faurie     27th May 2011 The Department of Mineral resources has launched the South African Mineral Resources Administration (Samrad) online application system in an attempt to streamline the application process and to make it transparent.  

Ferguson sets ball rolling for offshore petroleum regulator

By: Esmarie Iannucci     26th May 2011 Federal Resources and Energy Minister Martin Ferguson has started the legislative process to establish a single national regulator for offshore petroleum activities. Ferguson on Wednesday introduced a package of amendment Bills into the House of Representatives that would effect institutional... 

Some light, and heat, as SA debates fracking moratorium 

By: Terence Creamer     25th May 2011 South Africa is correct to exercise caution before formulating its policy relating to hydraulic fracturing, or fracking, and should be wary of moving ahead until thorough scientific study of the possible risks have been undertaken, a geological expert cautioned on Wednesday. But proponents of... 

Santos announces new Carnarvon basin oil discovery

By: Esmarie Iannucci     25th May 2011 Oil and gas major Santos on Wednesday reported a new oil discovery at the Finucane South project, in the Carnarvon basin, off the coast of Western Australia. The ASX-listed company said that well logs and wire line testing have confirmed a net oil column of 18 m in reservoir sands in the Angel... 

Woodside discovers more gas off the coast of WA

By: Esmarie Iannucci     23rd May 2011 Australian oil and gas major Woodside Petroleum has discovered more gas to underpin its A$14-billion Pluto project, in the Carnarvon basin off the coast of Western Australia. Woodside reported on Monday that the Xeres-1 well had intersected some 51 m of gross gas within the Triassic target. The... 

Shell approves world’s largest floating LNG project

By: Esmarie Iannucci     20th May 2011 Oil and gas major Shell on Friday announced a final investment decision for its Prelude floating liquefied natural gas (FLNG) project, off the coast of Western Australia. The decision meant that Shell would now start the detailed design and construction of what would be the world’s largest... 

Alberta fires continue to hit oil sands production

By: Matthew Hill     19th May 2011 Oil multinational Shell on Thursday said its Albian Sands operations in Alberta continued to produce, despite the wildfires that have forced companies to suspend more than 100 000 barrels a day of output. Shell said that winds carrying heavy smoke had caused the company to limit non-essential... 

Australian oil output falls to 20-year low

By: Esmarie Iannucci     19th May 2011 Australian oil production dropped to its lowest level in 20 years in the March quarter, advisory firm EnergyQuest reported on Thursday. Australian oil production fell to 20,9-million barrels in the quarter, down from 27,3-million barrels in previous quarter. 

Alberta wildfires close oil sands operations

By: Matthew Hill     16th May 2011 Raging wildfires in Alberta have not affected oil giant Shell’s Albian Sands operations near Fort McMurray, the company said on Monday. The fires, which started on Sunday, have destroyed “hundreds of homes, churches and businesses” in the town of Slave Lake, TSX-listed Exall Energy said earlier,... 

Woodside appoints ExxonMobil exec as new CEO

By: Esmarie Iannucci     12th May 2011 Australian oil and gas producer Woodside Petroleum has appointed ExxonMobil VP Peter Coleman as its new CEO, to replace Don Voelte. Coleman will take up his appointment with Woodside on May 30. 

Angostura to triple BHP gas production at Trinidad/Tobago

By: Esmarie Iannucci     12th May 2011 The world’s largest diversified miner BHP Billiton has started gas production at its Angostura project, off the shore of Trinidad and Tobago. The miner said that the new gas export platform has a design capacity of 280-million cubic feet of gas a day, and is located alongside the company’s... 

Origin buys stake in Chilean geothermal explorer

By: Esmarie Iannucci     9th May 2011 ASX-listed Origin Energy has acquired a 40% stake in Chilean geothermal explorer Energia Andina SA (EASA) following a bidding process run by Empresa Nacional del Petroleo. EASA has established a portfolio of eight geothermal exploration projects in the northern and central regions of Chile,... 

WA agrees deal with native title holders for LNG precinct

By: Esmarie Iannucci     6th May 2011 The traditional owners of the land at James Price Point in Western Australia have agreed to relinquish their native title interests in 3 500 ha of land and water required for a liquefied natural gas (LNG) precinct, Premier Colin Barnett said on Friday. The Goolarabooloo Jabirr Jabirr native... 

Woodside announces WA oil discovery, shares gain

By: Esmarie Iannucci     5th May 2011 Shares in ASX-listed Woodside jumped 2,5% on Thursday after the company reported an oil discovery at its Laverda North 2 well, in Western Australia’s Exmouth sub-basin. Woodside said it discovered a gross interval of 18 m of new oil bearing sands. Wireline sampling from the new zone recovered... 

Santos says project pipeline could expand output by 40%

By: Esmarie Iannucci     5th May 2011 Australia’s largest domestic gas producer Santos said on Thursday that its liquefied natural gas (LNG) project portfolio had the potential to deliver a 20-million barrel oil-equivalent increase to its yearly production by the end of 2015. Santos produced 50-million barrels of oil equivalent... 

Suncor reports higher earnings, raises dividend

By: Matthew Hill     3rd May 2011 Canada’s biggest oil-sands producer Suncor on Tuesday announced a 31% jump in first quarter earnings to C$1-billion, allowing the company to lift its dividend by 10%. While production at its oil sands operations grew, the March closure of the company’s Libyan oil assets meant that Suncor cut its... 

Chevron looks to increase Gorgon output

By: Esmarie Iannucci     3rd May 2011 US energy giant Chevron was seeking approval from the Australian federal government to increase the scope of its Gorgon project, in Western Australia. Chevron, on behalf of the Gorgon joint venture, was seeking to expand the project’s capacity from a three train to a four train project, taking... 

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