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Posts Tagged ‘BG Group’

Australia’s Arrow trumps BG’s Pure bid, Shell eyed

SYDNEY/LONDON, Feb 11 (Reuters) – Australia’s Arrow Energy Ltd raised its offer for Pure Energy Resources Ltd to A$796 million ($520.3 million), trumping a bid from Britain’s BG Group Plc, but analysts say Royal Dutch Shell could also bid.

Shell ‘key’ to BG gas bid

Analysts yesterday said BG’s cash bid of $6.40 for Pure, made on Monday, was a spoiling tactic to hamper a joint-venture between Shell and Arrow Energy.

BG Launches Rival Bid for Pure Energy

The 796 million Australian dollar (US$533.3 million) all-cash bid trumps an existing cash and share offer from Arrow Energy Ltd., which is Royal Dutch Shell PLC’s joint venture partner in Australia.

BG Group bids for Australian gas company

Royal Dutch Shell last year joined forces yesterday with Arrow Energy to develop projects in Australia and international markets when it agreed to invest up to A$776m to buy 30 per cent of Arrow’s coal bed methane acreage in Queensland and 10 per cent of its international assets. Arrow is also a major shareholder in Pure Energy.

Why BG remains the stand-out play among London blue chips

However, the last three months of 2008 proved a record quarter for LNG – operating profits rose nearly threefold year-on-year to £456 million – helping BG’s earnings to beat consensus estimates by 15 per cent. That helps to explain why the company’s fourth-quarter earnings were down just 26 per cent on their predecessor, against the 71 per cent and 49 per cent falls recorded by BP and Shell respectively.

Feeling Flush, Exxon Fuels Speculation Deal Is on Tap: Shell spokesman declined to comment

One of the many scenarios suggested by observers is Exxon buying Royal Dutch Shell, a move that would give the Texas company access to more oil reserves in West Africa and would turn Exxon into an uncontested giant in the fast-growing global gas trade. A Shell spokesman declined to comment.

Arrow Offers an 81% Premium for Pure Energy Resources

Dec. 22 (Bloomberg) — Arrow Energy Ltd., Royal Dutch Shell Plc’s partner in coal-seam gas in northeast Australia, offered to buy Pure Energy Resources Ltd. for A$673 million ($460 million) in cash and shares, an 81 percent premium to its stock price.

BP and BG agree North Sea asset swap

LONDON, Dec 3 (Reuters) – BP said on Wednesday it has agreed to an asset swap with UK gas producer BG Group which would strengthen its position as a major operator of fields in the southern region of the UK North Sea.

Global energy investment hit by financial crisis

Nov 18 (Reuters) – The growing financial crisis and plunging energy prices have forced companies to scale back spending and delay projects, with expensive ventures in the Canadian oil sands hardest hit.

Conoco, Aramco Delay Saudi Refinery

Project delays in the high-cost Canadian oil sands have been announced in the past month by Royal Dutch Shell PLC, Suncor Energy Inc. and Nexen Inc.

Fair weather for oil industry mergers as project costs soar

Oil and gas chief executives, a conservative lot, have shied away from using high energy prices to justify big deals. The collapse of the markets could spur them into action.

Rapid fall in oil prices brings majors to their pain threshold

The omens are not good. TNK-BP, the Anglo-Russian joint venture, has already indicated a potential $1 billion (£630 million) cutback in capital spending next year, and others are expected to follow suit.

New reporting rules will boost oilpatch’s reserves: may lead to takeovers

The world’s second-largest non-government-controlled oil company by market value, Royal Dutch Shell, is likely to benefit most among the oil majors, analysts said. The company invested heavily in squeezing crude from bitumen-soaked soil in Alberta, and in extracting gas locked in coal beds in Australia and China, as it sought to rebuild its asset base after a reserves overbooking scandal in 2004.

BG Group is energised by talk of takeover approach

Speculation in the Square Mile suggested that the company could find itself the subject of a takeover approach from ExxonMobil, the American energy giant.

BG opens new front in Origin fight

BP has been looking at Origin’s data, and Royal Dutch Shell and Chevron have been named as possible partners.