Global Impact of North American Shale Gas Boom Forces Qatar to Shift Focus
The global impact of the US shale gas boom was in further evidence this week as Qatar Petroleum, along with its MOU partner, Centrica, made its first move into the North American E&P market in a $1 billion acquisition of Canadian assets from Suncor Energy. North America had been earmarked by Qatar as a guaranteed .. read more
Deals of the Week: EP Energy Corporation and Cove Energy Find their Suitors
In a week where confidence has been returning to the oil market in tandem with the increasing oil price, two companies that have been in the shop window over the past few months have found willing acquirers. El Paso’s E&P division attracted the larger of the two bids of $7.15 billion from Apollo Global Management and .. read more
Deals of the Week: Centrica Beefs Up North Sea Production with Statoil Asset Acquisition
The largest gas producer in the North Sea, Centrica, added to its portfolio of assets in the region via a $1.5 billion deal with Statoil, marking the largest acquisition for the company since its takeover of Venture Production in 2009. The move will increase Centrica’s production by 25% and will include interests in 4 producing .. read more
BG–Cheniere LNG Deal a Gamechanger as Asian Gas Markets Open to US Producers
The entire gas producing world can see a major opportunity in Asia right now. Prices for imported gas have been soaring as the energy crisis persists in various countries across the continent. The United States, despite its huge shale gas reserves, has been unable to act on this opportunity because it does not currently have .. read more
Deals of the Week: Dominion Petroleum Becomes Latest AIM Explorer to be Acquired
Dominion Petroleum became the latest small cap exploration company to be picked off this week by a larger peer. The share performance of pure exploration companies on AIM has been hit particularly hard by the drop in sentiment since April 2011 and even with a premium over the day prior price of 64%, investors who .. read more
Weekly Energy Round-Up: Mozambique Gas Block Hits 10TCF as Aminex Suffers Setback in Tanzania
Anadarko Optimistic for LNG Future in Mozambique The continuing exploration and appraisal campaign in the Offshore Area-1 block delivered further success following the completion of the Camarão well in the Rovuma Basin, Mozambique. This is the fifth major gas discovery to be drilled in the block, de-risking and adding to resources which operator Anadarko estimates .. read more
Weekly Energy Round-Up: Chevron Commits to Wheatstone Project as China Looks Abroad For Shale Gas Investment
Wheatstone Project Gets Green Light This week, Chevron announced the final investment decision (FID) for its Wheatstone project in Western Australia. The initial $29 billion project involves the construction of two Liquefied Natural Gas (LNG) processing trains with a combined annual capacity of 8.9 million tonnes. The project received federal approval last week for an .. read more
Deals of the Week: Arrow Adds New String to its CBM Bow
Arrow Energy has made a bid for Queensland-based Bow Energy in what was by far the biggest deal of another quiet week of oil and gas deals. Arrow, a 50/50 joint venture between Royal Dutch Shell and PetroChina, aims to add Bow to its portfolio for a total of around US$658m, based on shares outstanding as of June 30. Bow’s .. read more
Chevron is Fastest Growing LNG Producer
Chevron is now by far the fastest growing LNG producer in the world, according to an analysis by Evaluate Energy, utilising the company’s new LNG project database. Between now and 2020, the company’s equity stake in additional LNG capacity totals 17 million tonnes, dwarfing the expansion plans of most other companies and even outpacing capacity additions by .. read more
Too Much Gas?
Having already grown by 2/3rds since 2005, global LNG production capacity is set to leap a further 50% over the next 5 years if all known projects are completed, according to a new analysis by Evaluate Energy. LNG demand in the Asia-Pacific is strong, but growing shale gas volumes in the United States – a .. read more