Canberra puts its foot on the gas

Original article by Nick Evans, Paul Garvey
The Australian – Page: 17 & 28 : 20-Jun-19

The federal government will put pressure on Woodside Petroleum and its Browse LNG joint venture partners to commit to developing the gas project. The current retention lease expires in mid-2020, and Resources Minister Matt Canavan has warned that the Browse partners risk losing the licence if they cannot demonstrate that they are ready to make a final investment decision. Fortescue Metals Group is among the companies that could potentially take up the Browse lease if Woodside and its partners are forced to relinquish it.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROYAL DUTCH SHELL PLC, BP PLC, PETROCHINA COMPANY LIMITED

Woodside pushes ahead with Scarborough project

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

Woodside Petroleum has awarded contracts for front-end engineering design work on the Scarborough gas project to McDermott Australia, Subsea Integration Alliance, Saipem and Intecsea. Woodside and its partners are slated to make a final investment decision on the project in 2020. Woodside has a majority stake in Scarborough, while BHP holds a 25 per cent stake and has an option to increase this by 10 per cent.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, BHP GROUP LIMITED – ASX BHP, McDERMOTT AUSTRALIA PTY LTD, SUBSEA INTEGRATION ALLIANCE, SAIPEM AUSTRALIA, INTECSEA PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, EXXONMOBIL CORPORATION

BHP backs Scarborough project

Original article by Matt Chambers
The Australian – Page: 20 : 25-Oct-18

Woodside Petroleum aims to commence development of the Scarborough gas field in 2020, after buying ExxonMobil’s stake earlier in 2018. Development of the project will boost the struggling petroleum division of BHP Billiton, Woodside’s partner in Scarborough. Steve Pastor, the head of BHP’s oil and gas operations, says the resources giant is upbeat about Scarborough, whose development had stalled under the joint ownership of ExxonMobil. BHP’s oil and gas production could fall to its lowest level in 20 years in 2018, following the sale of its US shale assets.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, BHP BILLITON LIMITED – ASX BHP, EXXONMOBIL CORPORATION, ENERGY INTELLIGENCE GROUP INCORPORATED, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES

Browse fields deal looms for Woodside

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 20-Jul-18

The partners in the North West Shelf venture have agreed to allow the LNG plant at Karratha to process third-party gas. This will include gas from Woodside Petroleum’s Browse LNG project. The North West Shelf’s gas reserves are expected to be exhausted some time after 2021, and the deal for third-party gas processing will extend the life of the Karratha plant. Meanwhile, Woodside has advised that it produced 22.1 million barrels of oil equivalent in the June quarter, while its sales totalled $US1.08bn.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, BHP BILLITON LIMITED – ASX BHP, CHEVRON CORPORATION, ROYAL DUTCH SHELL PLC, JP MORGAN AUSTRALIA LIMITED

Woodside in $2.5b raising for LNG growth

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 15-Feb-18

Woodside Petroleum has advised that its profit for 2017 rose by 18 per cent to $US1.024bn. Meanwhile, the group will have a 75 per cent stake in the Scarborough gas field after striking a deal to acquire ExxonMobil’s 50 per cent interest in the undeveloped asset for $US744m. Woodside will finance the acquisition via a $A2.5bn capital raising. BHP Billiton holds the remaining 25 per cent stake in Scarborough, and it could potentially exercise its pre-emptive right to buy ExxonMobil’s stake.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, EXXONMOBIL CORPORATION, BHP BILLITON LIMITED – ASX BHP, ALLAN GRAY AUSTRALIA PTY LTD, WATERMARK FUNDS MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, ROYAL DUTCH SHELL PLC, BERNSTEIN INVESTMENT RESEARCH AND MANAGEMENT, WOOD MACKENZIE, UBS HOLDINGS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED

Browse back on Shell’s agenda

Original article by Paul Garvey
The Australian – Page: 18 : 20-Nov-17

Shell Australia chairman Zoe Yujnovich says the company remains committed to the development of the Browse gas fields off Western Australia. There had been speculation that Shell’s sale of its remaining 13.5 per cent stake in Woodside Petroleum may see its interest in having the Browse fields developed decrease. The Browse fields were discovered over 40 years ago, with the latest plan to develop them involving linking them to the North West Shelf LNG plant by an undersea pipeline. The cost of the plan is put at $US25 billion ($A33 billion)

CORPORATES
SHELL COMPANY OF AUSTRALIA LIMITED, WOODSIDE PETROLEUM LIMITED – ASX WPL, CREDIT SUISSE (AUSTRALIA) LIMITED, CHEVRON CORPORATION, BG GROUP PLC

Forrest branches into oil and gas

Original article by Paul Garvey
The Australian – Page: 19 & 20 : 2-Nov-16

Goshawk Energy and a company owned by Fortescue Metals Group founder Andrew Forrest have applied for oil and gas exploration permits covering about 220,000 square kilometres in Western Australia’s onshore Canning Basin. Forrest has applied for the permits via Squadron Energy, which is a subsidiary of Minderoo. A spokeswoman for Minderoo says the company is not currently considering the use of fracking in the Canning Basin, but environmental groups have urged Forrest to rule out using the technology.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, SQUADRON ENERGY, MINDEROO PTY LTD, GOSHAWK ENERGY PTY LTD, BURU ENERGY LIMITED – ASX BRU, ENVIRONS KIMBERLEY, HANCOCK PROSPECTING PTY LTD, MINERAL RESOURCES LIMITED – ASX MIN, AUSTRALIAN LABOR PARTY, CONOCOPHILLIPS, APACHE CORPORATION, HESS CORPORATION, PETROCHINA COMPANY LIMITED, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, LAKES OIL NL – ASX LKO, EMPIRE OIL AND GAS NL – ASX EGO

Woodside would welcome Scarborough’s fare

Original article by Paul Garvey
The Australian – Page: 22 : 14-Sep-16

Woodside Petroleum recently secured a deal to acquire 50 per cent of BHP Billiton’s stake in the Scarborough gas fields off the coast of Western Australia. There has been speculation that gas from Scarborough could potentially be processed at Woodside’s LNG plants, rather than using floating LNG technology. Woodside COO Michael Utsler says it is up to project operator ExxonMobil to broach the subject of options for processing Scarborough gas.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, BHP BILLITON LIMITED – ASX BHP, EXXONMOBIL CORPORATION, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD

Woodside shelves $50bn Browse

Original article by Matt Chambers
The Australian – Page: 19 & 22 : 24-Mar-16

Woodside Petroleum and its partners will not proceed with the Browse floating LNG project due to the downturn in the crude oil price, which is currently trading at around $US40 a barrel. It is estimated that the project would cost $A50bn to develop, and Woodside CEO Peter Coleman says crude oil would have to be trading at between $US50 to $US60 per barrel for Browse to break even. Coleman adds that other options will be considered for developing the Browse project.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, BP PLC, MITSUBISHI CORPORATION, MITSUI AND COMPANY LIMITED, PETROCHINA COMPANY LIMITED, ALLAN GRAY AUSTRALIA PTY LTD, BHP BILLITON LIMITED – ASX BHP

Green light for Origin gas venture

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 16 : 6-Jan-16

Origin Energy and AWE Limited will proceed with the first stage of the Waitsia gas project in Western Australia. The joint venture partners will invest $A17.5m in the first stage of the Perth Basin project, after Alinta Energy secured a deal to buy 10 terajoules of gas per day over 2.5 years. The project will initially have a daily production capacity of 10 terajoules, although this could eventually be lifted to around 100 terajoules a day.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, AWE LIMITED – ASX AWE, ALINTA ENERGY (AUSTRALIA) PTY LTD, CITIC PACIFIC, WOOD MACKENZIE, UBS HOLDINGS PTY LTD