B07 Oil and Gas Extraction

Moomba hub driving down gas price

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 17-Sep-14

Central Petroleum CEO Richard Cottee supports a gas pipeline from Alice Springs in the Northern Territory to Moomba in South Australia. He said that the pipeline, costing about $A1.3 billion, would lead to a transparent gas price at Moomba. A hub-based pricing system would stimulate investment in increased supply and eventually reduce gas prices in the eastern states

CORPORATES
CENTRAL PETROLEUM LIMITED – ASX CTP, AUSTRALIA. DEPT OF INDUSTRY, NORTHERN TERRITORY. DEPT OF THE CHIEF MINISTER, SANTOS LIMITED – ASX STO

Cheap gas flows in as prices slump to record lows

roymorgansocial Leave a comment

Original article by Matt Chambers
The Australian – Page: 15 : 1-Sep-14

Origin Energy, Santos and others are building three major LNG processing plants for the export market, in the Gladstone region of Queensland. The projects are forecast to cause higher domestic gas prices as the supply is diverted offshore. However in late August 2014, gas prices for local users have actually declined. In Queensland they have fallen to as little as $A1 per gigajoule, compared with the usual range of $A3 to $A4. From 2015 on they are estimated to reach up to $A10

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, SANTOS LIMITED – ASX STO, AGL ENERGY LIMITED – ASX AGK, AUSTRALIAN ENERGY REGULATOR, CREDIT SUISSE (AUSTRALIA) LIMITED, QUEENSLAND CURTIS LNG PTY LTD, AUSTRALIA PACIFIC LNG LIMITED, GLADSTONE LNG PTY LTD

BHP says cash returns on horizon

roymorgansocial Leave a comment

Original article by Barry FitzGerald
The Australian – Page: 17 : 22-Aug-14

Stockholders of BHP Billiton were unhappy that the 2013-14 results presentation and announcement of a new standalone entity to house non-core operations were not accompanied by news of a stock repurchasing scheme. It had been tipped to be worth between $US3bn and $US5bn ($A3.2bn to $A5.4bn), and on 21 August 2014 the stock fell a further $A0.10 to close at $A38.03. CEO Andrew Mackenzie concedes that the dividend lift of just $US0.05 to $US1.12 would have been disappointing for many, but says the group will return more capital to investors in the medium-term future

CORPORATES
BHP BILLITON LIMITED – ASX BHP

Shell’s man cans corporate welfare

roymorgansocial Leave a comment

Original article by Andrew Burrell
The Australian – Page: 18 : 21-Aug-14

The Committee for Economic Development of Australia on 20 August 2014 heard from Andrew Smith, the chair of Shell Australia. He argued that the industrial relations system needs to be overhauled in order to ensure further productivity gains, which in turn will improve living standards. Smith honoured the victims of previous reforms that had from the 1970s on dismantled the trade tariffs protecting many industries, and also said businesses must not rely on government aid

CORPORATES
SHELL COMPANY OF AUSTRALIA LIMITED,ROYAL DUTCH SHELL PLC,WOODSIDE PETROLEUM LIMITED – ASX WPL,COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA

Woodside on M&A chase

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 21-Aug-14

Woodside Petroleum has posted a 2014 interim underlying net profit of $US1.136bn, which is 33 per cent higher than previously. Revenue was 24 per cent higher at $US3.55bn. CEO Peter Coleman says the group plans to spend up to $A5bn on large acquisitions, which could potentially include Apache’s 13 per cent stake in the Wheatstone LNG project. Andrew Williams of RBC Capital Markets believes that Woodside may also consider Apache’s Kitimat LNG project in Canada

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL,APACHE ENERGY LIMITED,RBC CAPITAL MARKETS,BERNSTEIN RESEARCH,CHEVRON CORPORATION

BHP says acquisitions not on cards

roymorgansocial Leave a comment

Original article by Amanda Saunders
The Australian Financial Review – Page: 17 & 22 : 21-Aug-14

BHP Billiton will focus on expanding its iron ore, copper, coal and petroleum operations if the proposal to demerge its non-core assets proceeds. CEO Andrew Mackenzie says BHP will not being pursuing acquisitions, although acquisitions are likely to form a key part of the spin-off’s growth strategy. Mackenzie also says the demerger will not have any impact on BHP’s future capital management strategy. Meanwhile, BHP aims to reduce cost by a further $US3.5bn over the next three years

CORPORATES
BHP BILLITON LIMITED – ASX BHP,RIO TINTO LIMITED – ASX RIO,CREDIT SUISSE (AUSTRALIA) LIMITED,MACQUARIE GROUP LIMITED – ASX MQG,DEUTSCHE BANK AG

Miner’s spin-off has bumpy birth

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 1 & 11 : 20-Aug-14

BHP Billiton has reported a 2013-14 underlying profit of $US13.4bn, which is 10 per cent higher than previously but lower than most analysts had expected. Meanwhile, UK investors have responded negatively to the group’s proposal to spin off non-core assets into a new listed company. A large sell-off of the new company’s shares is expected, as UK investors are concerned by the fact that it will be listed in Australia and South Africa, rather than the UK

CORPORATES
BHP BILLITON LIMITED – ASX BHP, BILLITON PLC

Energy report urges job reform

roymorgansocial Leave a comment

Original article by Amos Aikman
The Australian – Page: 18 : 18-Aug-14

A new study, "Heading North: The Importance of Labour Mobility in Developing Northern Australia", has been commissioned by the Australian Petroleum Production & Exploration Association special interest group. It will argue before the federal parliament’s Joint Select Committee on Northern Australia on 18 August 2014 that state and federal governments must do more to support flexible staffing solutions. These include "fly in, fly out" rosters, more skilled immigration and the use of "457" visas. Such measures could unlock a potential $A180bn in capital investments

CORPORATES
AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, AUSTRALIA. JOINT SELECT COMMITTEE ON NORTHERN AUSTRALIA

A leaner BHP is taking shape

roymorgansocial Leave a comment

Original article by Barry FitzGerald, Sarah-Jane Tasker
The Australian – Page: 17 : 18-Aug-14

BHP Billiton CEO Andrew Mackenzie is rolling out his "four pillars" strategy of concentrating on the core iron ore, coal, copper and petroleum divisions. A potential hiving-off of other assets into a separately-listed entity will be discussed at the 2013-14 results presentation on 19 August 2014, at which BHP is also tipped to unveil a profit rise of 27% to $US13.8bn ($A14.8bn). The 12-month distribution is forecast to be lifted to above $US1.20 from $US1.16 previously. However a stock repurchasing scheme worth up to $US5bn is now less likely, due to the spin-off move

CORPORATES
BHP BILLITON LIMITED – ASX BHP, CITIGROUP PTY LTD, PENGANA CAPITAL LIMITED

AGL granted CSG fracking licence

roymorgansocial Leave a comment

Original article by Geoff Winestock
The Australian Financial Review – Page: 9 : 7-Aug-14

The New South Wales (NSW) Government in 2012 ended a ban on hydraulic fracturing for coal seam gas wells that had been imposed in 2011, provided that companies use new and safer technology. The first such approval has now been issued by NSW Energy Minister Anthony Roberts to AGL Energy, which must also however relinquish the licence it held for a quarter of the previous exploration area

CORPORATES
AGL ENERGY LIMITED – ASX AGK, NEW SOUTH WALES. DEPT OF ENERGY, UTILITIES AND SUSTAINABILITY, METGASCO LIMITED – ASX MEL, THE GREENS NSW INCORPORATED