GAS FIELDS – AUSTRALIA

Downgrades fuel Scarborough doubts

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 11-Nov-21

Woodside Petroleum’s proposed $16bn Scarborough LNG project is under renewed scrutiny in the wake of the oil and gas group’s recent downgrading of the reserves at its Wheatstone and Pluto gas fields. Woodside is slated to make a final investment decision on Scarborough by the end of 2021, and some analysts have scaled back their gas reserve estimates for Scarborough in the wake of the Wheatstone and Pluto downgrades. There may also be implications for the valuation of Woodside if its proposed merger with BHP’s petroleum division proceeds.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, BHP GROUP LIMITED – ASX BHP

Barossa fires up Santos hopes of Darwin LNG

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Original article by Paul Garvey
The Australian – Page: 20 : 24-Apr-18

The partners in the Barossa gas field have committed to undertaking front-end engineering and design work on the project, with a view to making a final investment decision by the end of 2019. The partners propose to process gas from Barossa at the Darwin LNG plant, which will be underutilised when the Bayu-Undan gas field is depleted in coming years. Santos has a 25 per cent stake in the Barossa gas field and an 11.5 per cent stake in the Darwin LNG project.

CORPORATES
SANTOS LIMITED – ASX STO, CONOCOPHILLIPS, SK GROUP, HARBOUR ENERGY LIMITED, WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC

Fortescue backs offshore competition on gas reservation

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 20-May-16

Fortescue Metals Group believes that changes to Australia’s lease retention system for oil and gas fields should be a higher priority than the Australian Labor Party’s proposed national interest test for LNG export projects. Fortescue, as a major user of gas, argues that scrapping the so-called "use it or lose it" system would be more effective in increasing the supply of gas for domestic customers. The lease retention system has come under scrutiny in the wake of Woodside Petroleum’s decision to put the Browse LNG project on hold.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIAN LABOR PARTY, WOODSIDE PETROLEUM LIMITED – ASX WPL, APACHE CORPORATION, QUADRANT ENERGY PTY LTD, HESS CORPORATION, MURPHY OIL CORPORATION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, DELOITTE TOUCHE TOHMATSU LIMITED, BHP BILLITON LIMITED – ASX BHP, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, EXXON CHEMICAL COMPANY

Sims’ threat to $100bn gas merger

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Original article by Perry Williams
The Australian Financial Review – Page: 1 & 12 : 18-Sep-15

The Australian Competition & Consumer Commission (ACCC) is concerned about the impact of the proposed Royal Dutch Shell-BG Group merger on the Australian gas market. ACCC chairman Rod Sims said on 17 September 2015 that the $US70 billion ($A98 billion) deal could lead to price rises and gas shortages. The ACCC believes that the merger "may" substantially lessen competition.

CORPORATES
ROYAL DUTCH SHELL PLC, BG GROUP PLC, ARROW ENERGY LIMITED, MANUFACTURING AUSTRALIA LIMITED, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION