(Reuters) - Royal Dutch Shell (RDSa.L) and PetroChina (0857.HK) jointly bid more than $3 billion for Australia's Arrow Energy (AOE.AX), marking a Chinese firm's first foray in the country's burgeoning coal-seam gas sector and sending Arrow's shares soaring by nearly half.
Coal-seam Gas
Shell, PetroChina bid $3 billion for Australia’s Arrow
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PetroChina Confirms Joint Bid With Shell For Arrow; No Details
THE WALL STREET JOURNAL
MARCH 7, 2010, 9:01 P.M. ET
BEIJING (Dow Jones)–PetroChina Co (PTR) has just launched a bid with Royal Dutch Shell PLC (RDSA) for Australian energy producer Arrow Energy (AOE.AU), Jiang Jiemin, chairman of PetroChina confirmed Monday.
The joint bid was in its early stages and there was no timetable for the process, he said.
He declined to give details, such as the percentage share of PetroChina and Shell.
Jiang was speaking on the sidelines of China’s National People’s Congress, the nation’s annual legislative session, which ends March 14.
Shell May Offer A$3.3 Billion for Arrow Energy
Bloomberg.com: Shell May Offer A$3.3 Billion for Arrow Energy, Review Says
By Gavin Evans
March 8 (Bloomberg) — Royal Dutch Shell Plc has offered about A$3.3 billion ($3 billion) for Arrow Energy Ltd. to take control of the companys gas assets in Australias Queensland state, the Australian Financial Review reported, without saying where it got the information.
Shell is offering about A$4.50 a share for its Brisbane- based partner in a coal seam gas project in Queensland, the newspaper said. Arrow wouldnt comment on the offer, which may have been made Friday, the Review said. Arrow Energy shares closed at A$3.48 on March 5, valuing it at A$2.6 billion.
Shell’s 30 per cent stake in restless Arrow Enegy
It is one thing to own the right to mine the gas, but it is a different issue to actually get it to the market and, as far as Arrows gas, it would seem Shell is in the ideal position to dictate terms, given it is the logical party to commercialise the project.
Arrow Energy to Spend A$300 Million Seeking Gas for LNG Plants
Aug. 26 (Bloomberg) -- Arrow Energy Ltd., Royal Dutch Shell Plcs Australian partner in coal-seam gas production, will spend A$300 million ($251 million) drilling wells to supply gas to two planned liquefied natural gas plants in Queensland.
Arrow Energy Shares Rise After Report of Shell Bid
Aug. 17 (Bloomberg) -- Arrow Energy Ltd., Royal Dutch Shell Plcs Australian partner in coal-seam gas production, rose in Sydney after the Sunday Telegraph reported that Shell made a A$3 billion ($2.5 billion) offer for the company.
Marine inquiry launched as Corrib gas vessel hits rocks
IRISH TIMES: Monday, August 17, 2009: THE DEPARTMENT of Transport and Shell EP Ireland have initiated separate investigations into the grounding of a Corrib gas project support vessel off Erris Head in Co Mayo early yesterday.
Royal Dutch Shell tables £1.5bn bid for Australia’s Arrow Energy
Royal Dutch Shell has made a A$3bn (£1.5bn) approach for Australian coal-seam gas producer Arrow Energy.
Arrow Energy Has Talks On Possible Takeover
Arrow and Shell have both said previously that they've held talks about Arrow selling more gas to Shell. It would hardly be surprising if a potential takeover transaction came up in conversation.
Origin, Conoco May Spend A$35 Billion on LNG Project
BG, a venture between Santos and Malaysias Petroliam Nasional Bhd., and Royal Dutch Shell Plc are among those also proposing to build LNG plants on Curtis Island based on coal- seam gas, which hasnt previously been used as a fuel for export LNG. Liquefied Natural Gas Ltd.
Queensland May Export 20 Million Tons a Year of LNG, Bow Says
Royal Dutch Shell Plc, which said in February it is studying a site near Gladstone in the northeastern state for a potential LNG project, may produce 9 million tons a year from its plant, using three processing units, De Stefani said. Its too early to comment on the capacity of Shells potential project, said Claire Wilkinson, a Perth-based spokeswoman for the companys Australian unit.
Arrow to Buy Beach Gas Asset for Up to A$400 Million
April 3 (Bloomberg) -- Arrow Energy Ltd., the Australian coal-seam gas producer, agreed to buy Beach Petroleum Ltd.s stake in a gas venture for as much as A$400 million ($287 million) after failing in a bid for Pure Energy Resources Ltd.
BG wins control of Australia’s Pure in gas push
The bid for Pure initially pitted BG against its larger rival, Royal Dutch Shell, which already has a joint venture with Arrow developing coal bed methane in Australia and elsewhere. However, Shell undermined Arrow's chances of winning Pure when it said last month that, in the absence of a higher offer, it would sell its own 11 per cent stake to BG.
BG Group Has Majority Control of Pure Energy
Rival bidder Arrow Energy, which is Royal Dutch Shell's Australian joint-venture partner, holds about 20% of Pure and hasn't said whether it will sell its stake into BG's bid.
BG takes majority control of Pure Energy
Rival bidder Arrow Energy, which is Royal Dutch Shell's Australian joint venture partner, holds about 20pc of Pure and hasn't said whether it will sell its stake into BG's bid.
BG Group wins control of Pure Energy
The bid for Pure initially pitted BG against its larger rival Royal Dutch Shell, which is a joint venture partner of Arrow in developing coal bed methane in Australia and around the world. However, Shell undermined Arrows chances of winning Pure when it said last month that it would sell its 11 per cent stake to BG, in the absence of a higher offer.
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