Rumours have recently been circulating in Australia that either BG or Shell might make a bid for Santos, another company with interests in Queenslands coal bed methane with a market capitalisation of about A$10bn.
Pure Energy
BG succeeds in bid for Pure Energy
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.
Falling revenues likely to put Shell’s plan for share buyback in limbo and debt into orbit
Gordon Gray, an oil analyst for Collins Stewart, said that a big increase in Shell's debt was inevitable while share buybacks were completely off the agenda. He predicted that Shell's net debt would rise from $8 billion in 2008 to as much as $23.9 billion this year - from a gearing level of about 6 per cent of its equity to nearly 17 per cent. He projected that Shell's net debt could peak next year at more than $30 billion, depending on how long oil prices remained depressed.
BG Gains on Deal for Pure Energy
While Arrow didn't say what it plans to do with its 20.3% stake in the group, analysts expect the Australian firm -- which is backed by Royal Dutch Shell PLC -- to sell its stake into BG's offer. Arrow wasn't available for comment.
Arrow Energy Closes Offer for Pure, Wins 20.31% Stake
The offer closed March 13, leaving Arrow with a 20.31 percent interest in Pure, Brisbane-based Arrow said today in a filing to the Australian stock exchange. The company, Royal Dutch Shell Plcs Australian partner in gas extracted from coal seams, didnt say what its plans are for the stake.
BG Group wins Shell’s stake in battle for Pure
BG Group has moved a step closer to acquiring Pure Energy Resources, the Australian coal seam gas explorer, by winning approval for its A$1bn (US$640m) takeover offer from Royal Dutch Shell.
Arrow Rises on Speculation It Will Drop Bid for Pure
Arrow Energy Ltd., Royal Dutch Shell Plcs partner in coal-seam gas, gained the most in three weeks on speculation it will drop its bid for Pure Energy Resources Ltd. and follow Shell in accepting BG Group Plcs rival offer.
Shell Gives Ground to BG in Battle for Pure Energy
SYDNEY -- BG Group PLC has moved closer to securing control of Pure Energy Resources Ltd. after Royal Dutch Shell PLC said it would sell its 11% stake in the coal seam gas producer into BG's 1.03 billion Australian dollar (US$651 million) offer.
Shell to accept improved BG offer for Pure Energy
Royal Dutch Shell (RDSa.L) said it plans to accept BG Group's (BG.L) improved offer for its stake in Australian coal seam gas firm Pure Energy (PES.AX) in the absence of a higher bid, helping the British firm move closer to a takeover.
Shell Intends to Accept BGs Offer for Pure Energy
Royal Dutch Shell Plc said it intends to accept BG Group Plcs takeover offer for its stake in Pure Energy Resources Ltd., taking BG closer to winning control of the Australian coal-seam gas explorer.
Business big shot: Frank Chapman
Mr Chapman, 55, looks well placed to see off Shell, his old employer, to win Pure Energy Arrow Energy, Shells Australian partner, is the rival bidder for Pure, a producer of coal seam gas.
Pure trumps latest offer from Australias Arrow Energy and its partner, Royal Dutch Shell.
BG Group: The London-listed oil and gas group saw its A$995 million (£445.7 million) offer for Pure Energy, the Australian coal-seam gas producer, gain board support. The recommendation from Pure trumps the latest offer from Australias Arrow Energy and its partner, Royal Dutch Shell.
Australia’s Pure Energy favours BG offer over Shell
BG's offer beats rival one from Shell's Australian partner