Caltex dusts off Ampol brand

Original article by Nick Evans
The Australian – Page: 13 : 24-Dec-19

Caltex Australia will relaunch the Ampol fuel brand after US-based Chevron Corporation advised that its licence to use the Caltex brand will be terminated. Caltex will have three years to complete the rebranding of its petrol stations, with the process slated to begin within six months. The Ampol brand was established in 1936, but it was phased out when the company merged with Caltex in 1995. Chevron recently acquired fuel retailer Puma Energy Australia for $425m.

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, CHEVRON CORPORATION, AMPOL LIMITED, PUMA ENERGY (AUSTRALIA) HOLDINGS PTY LTD

Oil Search boosts Alaska oil outlook

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

Oil Search has upgraded the 2C contingent resource estimate for the Pikka oil project in Alaska to 728 million barrels following an independent assessment. This is 46 per cent higher than Oil Search had estimated when it acquired its stake in the project in 2018; the company’s share of the 2C contingent resource has been increased from 127 million barrels to 371 million barrels. Oil Search and its joint venture partners expect to make a decision on the commencement of front-end engineering and design work in early 2020.

CORPORATES
OIL SEARCH LIMITED – ASX OSH, JP MORGAN AUSTRALIA LIMITED

Santos slumps after rating downgrade

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 10-Dec-14

Investors have responded bearishly to a move by Standard & Poor’s to reduce the credit rating of Australian-listed Santos from "BBB+" to "BBB". Santos shares closed $A0.60 lower at $A7.70 on 9 December 2014, after reaching an intra-day low of $A7.46. The oil and gas producer has indicated that the ratings downgrade will have no impact on its finances, and notes that it has a healthy balance sheet

CORPORATES
SANTOS LIMITED – ASX STO, STANDARD AND POOR’S (AUSTRALIA) PTY LTD, JP MORGAN AUSTRALIA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Santos seizes Australian oil and gas crown

Original article by Paul Garvey
The Australian – Page: 19 : 15-Oct-19

Santos expects a $US1.39bn deal to acquire the northern Australia assets of ConocoPhillips to boost its earnings by about 16 per cent. The deal includes the US group’s controlling stake in the Darwin LNG plant, as well as its interests in the Bayu-Undan, Barossa and Poseidon gas fields. Santos will now surpass Woodside Petroleum as Australia’s biggest oil and gas producer. ConocoPhillips still has a 37.5 per cent stake in the Australia Pacific LNG project in Queensland.

CORPORATES
SANTOS LIMITED – ASX STO, CONOCOPHILLIPS, WOODSIDE PETROLEUM LIMITED – ASX WPL, QUADRANT ENERGY PTY LTD, RBC CAPITAL MARKETS, WOOD MACKENZIE, JP MORGAN AUSTRALIA LIMITED

BHP’s still pumped about petroleum

Original article by Nick Evans
The Australian – Page: 20 : 11-Oct-19

BHP’s head of petroleum Geraldine Slattery has told a recent question and answer session in London that oil and gas will remain an integral part of the group’s portfolio. However, whether its historical Australian oil and gas assets remain part of that portfolio is uncertain, with analysts suggesting it may seek to divest its interests in the North West Shelf and Bass Strait. Slattery added that BHP is upbeat about its long-term prospects in Mexico, where it has a stake in the Trion oil field.

CORPORATES
BHP GROUP LIMITED – ASX BHP

ExxonMobil to exit Bass Strait gas and oilfields

Original article by Perry Williams
The Australian – Page: 17 : 19-Sep-19

Oil major ExxonMobil is to put its 50 per cent stake in the Gippsland Basin Joint Venture on the market. ExxonMobil holds its 50 per cent interest in the GBJV through Esso, with BHP owning the other 50 per cent. It has been suggested that ExxonMobil could secure up to US2.5 billion ($3.65 billion) for its share of the GBJV, which houses offshore oil and gas assets in Bass Strait and the Longford and Long Island Point plants in Victoria. There is speculation that BHP might seek to put its share of the GBJV up for sale as well as a result of ExxonMobil’s announcement.

CORPORATES
EXXONMOBIL CORPORATION, ESSO AUSTRALIA PTY LTD, BHP GROUP LIMITED – ASX BHP

Gas find off Victoria lifts hopes for supply from late 2021

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: Online : 7-Sep-19

Cooper Energy and Mitsui have reported a new gas find off the coast of Victoria, with the Annie-1 discovery being located near to an existing gas plant and pipeline. Cooper Energy MD David Maxwell indicated that drilling results indicated a discovery in line with expectations before the well was drilled, which suggests a ‘best estimate’ of 70.5 billion cubic feet, and possibly as much as 137 bcf. Supply from Annie-1 could commence as soon as late 2021.

CORPORATES
COOPER ENERGY LIMITED – ASX COE, MITSUI AND COMPANY (AUSTRALIA) LIMITED

Potential $50b wave of gas M&A deals around the corner

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 27 : 30-Aug-19

David Low of Wood Mackenzie says mergers and acquisitions activity in Australia’s oil and gas sector could increase in coming years. He identifies Cooper Energy and Senex Energy as being among the smaller companies that could become takeover targets, while Oil Search could also potentially attract suitors following its recent share price weakness. Low adds that international companies such as ConocoPhillips and Eni could opt to divest some or all of their assets in Australia.

CORPORATES
WOOD MACKENZIE, COOPER ENERGY LIMITED – ASX COE, SENEX ENERGY LIMITED – ASX SXY, OIL SEARCH LIMITED – ASX OSH, CONOCOPHILLIPS, ENTE NAZIONALE IDROCARBURI SPA, COMET RIDGE LIMITED – ASX COI, GALILEE ENERGY LIMITED – ASX GLL, WOODSIDE PETROLEUM LIMITED – ASX WPL, SANTOS LIMITED – ASX STO, QUADRANT ENERGY PTY LTD

Woodside expects reduced output

Original article by Perry Williams
The Australian – Page: 20 : 12-Jun-19

Oil and gas producer Woodside Petroleum has advised that its production for 2019 will be at the lower end of its previous guidance of 88-94 million barrels of oil equivalent. Woodside has attributed the revised guidance to a delay in resuming production at the Pluto LNG plant due to maintenance issues. RBC Capital Markets estimates that a two per cent reduction in annual output would reduce Woodside’s earnings by around three per cent.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, RBC CAPITAL MARKETS, BHP GROUP LIMITED – ASX BHP

Santos warns of PRRT tax hit

Original article by Paul Garvey
The Australian – Page: 20 : 18-Apr-19

Santos has posted sales revenue of $1.01bn for the March quarter, which is 28 per cent higher than previously, while free cash flow rose to a record $327m. Santos has also advised that it produced 18.4 million barrels of oil equivalent during the quarter, which is up 33 per cent year-on-year. Meanwhile, Santos has indicated that its earnings could be adversely affected by changes to the petroleum resource rent tax that take effect on 1 July.

CORPORATES
SANTOS LIMITED – ASX STO, ROYAL DUTCH SHELL PLC, CONOCOPHILLIPS, QUADRANT ENERGY PTY LTD, RBC CAPITAL MARKETS