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.
Coal-seam Gas
BG Group wins Shell’s stake in battle for Pure
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.
BG Raises Bid for Pure Energy
BG likely hopes the move is a winning step in its battle with Royal Dutch Shell PLC's Australian joint-venture partner, Arrow Energy Ltd., for the coal-seam gas producer.
BG Raises Leading Bid for Pure Energy
BG likely hopes the move is a knockout punch in its battle with Royal Dutch Shell's Australian joint venture partner, Arrow Energy Ltd., for the coal seam gas producer.
BG Group Raises Cash Takeover Offer for Pure Energy
BGs increased offer of A$8.25 a share is final in the absence of a higher bid, the Reading, U.K.-based company said today in a statement to the Australian stock exchange. The move further boosts BGs offer above a rival cash and stock bid by Arrow Energy Ltd., Royal Dutch Shell Plcs Australian partner in coal-seam gas.
Australian Coal-Gas Sparks a Deal Boom
BG Group PLC, the British oil and gas company, and Royal Dutch Shell PLC's Australian partner Arrow Energy Ltd. are competing for Pure Energy Resources Ltd., an Australian player in coalbed methane.
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.
Australia’s Pure Energy favours BG offer over Shell
BG's offer beats rival one from Shell's Australian partner
BG Raises Bid for Pure Energy
Shell has it own LNG plans, announcing last week that it is studying the feasibility of building a processing facility at Gladstone to be fed by Arrow's reserves.
BG Raises Bid for Pure, Topping Shell Partners Offer
Feb. 17 (Bloomberg) -- BG Group Plc raised its hostile bid for Pure Energy Resources Ltd., topping an offer by Royal Dutch Shell Plcs Australian partner in coal-seam gas, as BG seeks to add reserves for an export venture.
BG ups bid for Pure Energy by 25 percent to trump rival
PERTH (Reuters) - BG Group raised its bid for Australian coal seam gas firm Pure Energy by 25 percent to nearly $650 million (458 million pounds), trumping a rival offer by Royal Dutch Shell's Australian partner Arrow Energy.
BG Lifts Bid for Pure to A$995 Million, Topping Arrow
Feb. 17 (Bloomberg) -- BG Group Plc, the U.K.s third- biggest gas producer, raised its offer for Pure Energy Resources Ltd. to A$995 million ($646 million), topping a bid by Arrow Energy Ltd., the Australian partner of Royal Dutch Shell Plc.
Shell Studies Site in Eastern Australia for LNG Plant
Feb. 12 (Bloomberg) -- Royal Dutch Shell Plc, Europes largest oil company, is studying a site in northeast Australia for a potential liquefied natural gas project, the fifth venture planning to tap reserves in the region for export to Asia.
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 Arrows coal bed methane acreage in Queensland and 10 per cent of its international assets. Arrow is also a major shareholder in Pure Energy.
Shell plans export gas plant at Gladstone
OIL major Shell, a minor player in Queensland's burgeoning liquid natural gas industry, plans to build an export plant at Gladstone.
Firms ‘vying for coal seam gas market’
Energy NL, which has a partnership with Royal Dutch Shell, says interest in Queensland's emerging coal seam gas sector is continuing despite turmoil in global economic markets.
Shell Partner Sees Australian Project Consolidation
Feb. 5 (Bloomberg) -- Australias emerging coal-seam gas industry is headed for consolidation as rivals seek the most profitable way of developing ventures that liquefy the fuel for export, Royal Dutch Shell Plcs local partner said.
Arrow launches $460 mln takeover bid for Pure Energy
The cash component of the offer will be funded via a combination of Arrow's existing cash reserves and proceeds from the firm's recent 30 percent sale of its Australian upstream interests to Royal Dutch Shell (RDSa.L).
Arrow Offers an 81% Premium for Pure Energy Resources
Dec. 22 (Bloomberg) -- Arrow Energy Ltd., Royal Dutch Shell Plcs 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.
Arrow Energy Says Currency Rates Boost Returns From Shell Deal
The change in the exchange rates since the accord was reached has increased the value of an initial payment to be made by Shell by some A$130 million ($85 million) to about A$640 million, Brisbane-based Arrow Energy said today in a statement to the Australian stock exchange.
Arrow, Shell Seal a Venture
"Both Shell and Arrow will now work together to deliver the value from our vast Australian coal seam gas interests as well as move forward with our international opportunities," Arrow Chief Executive, Nick Davies said in a statement.
Australian Coal-Seam Gas Shares Rise on Conoco-Origin Agreement
Arrow Energy Ltd., which plans a venture with Royal Dutch Shell Plc to produce liquefied natural gas from coal seams, rose as much as 11 percent to A$3.27, the highest in seven months.
Royal Dutch Shell takes aim at Arrow’s LNG
OIL major Royal Dutch Shell is in talks with Gladstone coal seam methane export hopeful LNG Ltd to buy liquefied natural gas, according to the global giant's local partner.
Arrow forecasts record earnings
The company in June signed a $776 million deal with Royal Dutch Shell to commercialise its vast coal seam gas reserves through a proposed liquefied natural gas (LNG) development in Queensland.
Arrow says LNG plans could increase its revenue up to $1.7bn by 2013
The coal seam gas producer, which is partnered with Royal Dutch Shell in its plans to supply gas to an LNG plant at Gladstone in Queensland, posted revenue of $27.9 million in the fiscal year ending June 30, 2007.
Open letter to Shell Canada:
I am puzzled by the logic used by Shell to justify its intention to extract coal-bed methane in the Klappan area.
LNG From Coal-Seam Gas Problems Are `Overstated,’ JPMorgan Says
Royal Dutch Shell Plc, Arrow Energy Ltd. andSunshine Gas Ltd. are among other companies planning LNG projects in Queensland using coal-seam gas.
Origin Is in `Detailed’ Talks on Coal-Seam Gas Assets (Update1)
McCann earlier today declined to comment to reporters in Sydney on a newspaper report that Royal Dutch Shell Plc and BP Plc are among companies that approached Origin over the assets.
Shell Keen’ on Stake in Australian LNG, Partner Says
Royal Dutch Shell Plc, Europe's biggest oil company, is ``keen'' to acquire a stake and purchase the output from a coal-seam gas based fuel export project in Australia's northeast, said Arrow Energy Ltd., a venture partner.
Sending the Message To Shell Overseas
On Tuesday, First Nations drumming and chants of "Get the Shell Out" echoed throughout Terrace, as over 250 people took to the streets in a rally protesting Shell's coalbed methane project.
Shell sees no problem in dealing with concerns over coal seam gas
Royal Dutch Shell's global head of power and gas, Linda Cook yesterday said the super major was still looking for new CSG openings in Australia to add to its recently added stake in Arrow Energy. "We've had that (CSG) on our radar for some years," Ms Cook said during a visit to Australia.
BG Hires Wood Mackenzie to Study Previous Australia Gas Deals
BG Group Plc, seeking to buy Australia's Origin Energy Ltd. in a A$13.8 billion ($13.3 billion) hostile takeover, commissioned Wood Mackenzie Consultants Ltd. to analyze similar deals for coal-seam gas reserves.
Origin Energy rejects £13bn bid from BG Group
Kevin McCann, Origin's chairman, said that the Petronas partnership with Santos and Shell's decision to invest in Australian coal seam gas had set a new valuation benchmark.
Redrawing frontiers: Natural resources firms
Royal Dutch Shell paid $2.1bn in a separate auction for blocks in the Chukchi Sea off the coast of Alaska. The price for the 277 blocks was the most it has ever paid for offshore exploration rights. When the company begins drilling wells there by the end of the decade, it will officially bring to an end a 25-year absence of oil and gas groups in the ecologically sensitive area.
Energy Firms See a Bonanza in Australia
Malaysia's state-owned Petroliam Nasional, or Petronas, did a deal with Santos, while Royal Dutch Shellcompleted one with Arrow Energy.
Shell $776m deal may attract overseas investment
A $776 million investment in Queensland's coal seam gas reserves by Royal Dutch Shell is tipped to attract more international investment in the sector.
Shell to Spend $742 Million For Stake in Arrow Gas Assets
THE WALL STREET JOURNAL: MELBOURNE, Australia -- Royal Dutch Shell PLC said it will pay A$776 million (US$742 million) for a partial stake in key assets belonging to Arrow Energy Ltd., marking the latest deal in Australia's booming coal-bed-gas sector and giving the Brisbane firm marketing power.
Shell joins Arrow in Australian gas project
Royal Dutch Shell is the latest international energy group to expand into Australia's thriving coal bed methane industry, joining forces with Arrow Energy to develop projects in Australia and internationally.
Shell’s Arrow Energy Deal Is Enough For Now: CEO
KUALA LUMPUR (Reuters) - Royal Dutch Shell's deal to buy into Arrow Energy Ltd's coal seam gas projects for $739 million is enough of an investment for now, Chief Executive Jeroen van der Veer said on Monday.
Shell keen to tap into coal seam gas in Australia
It is odourless, invisible and buried deep within the earth, and everyone seems to want it. For the third time in a week, a major oil company struck a deal to secure rights to Australia's suddenly fashionable coal seam gas reserves.
Shell targets coal-seam gas with £375m Arrow Energy deal
Royal Dutch Shell has secured a slice of Australias burgeoning coal-seam gas sector, signing a preliminary A$776 million (£375 million) deal today with the fourth-largest producer.
UPDATE 2-Shell to pay $739 mln for Australian gas stake
SYDNEY, June 2 (Reuters) - Royal Dutch Shell said on Monday it will pay $739 million for an interest in Arrow Energy Ltd's coal seam gas projects, as competition heats up for Australia's vast coal seam gas assets, driving Arrow shares up by a fifth.
Shell, Arrow Sign Accord for $700 Million Gas Venture (Update2)
June 2 (Bloomberg) -- Royal Dutch Shell Plc, Europe's largest oil company, and Australia's Arrow Energy Ltd. signed an initial accord for a $700 million venture to extract natural gas from coal seams to tap rising demand for cleaner-burning fuels.
Origin Energy rejects improved offer by BG Group
Yesterday shares in Arrow Energy, Australia's number four producer of coal-seam gas, were still halted as it worked on an agreement to sell an interest in its projects. Shell was rumoured to be the likely partner.