BHP Takes $4.9 Billion Write-down On US Shale Assets
Impairment is latest caused by BHP's badly-timed push into U.S. shale in 2011, when it spent $17 billion on two acquisitions while oil and gas prices were much higher, Reuters said.
LNG: ‘Real’ Growth Yet To Come
LNG production, particularly in Australia and the U.S., ramps up, while demand takes a hit. How will the global LNG market react?
Through Agreement, Chevron Will Sell Gorgon LNG To Chinese Firm
The Gorgon project combines the development of the Gorgon field and the nearby Jansz-Io Field and is capable of producing 15.6 million tonnes of LNG a year, Reuters said.
BG's Queensland Curtis LNG Plant Fully Operational
The project is expected to produce enough LNG to load about 10 vessels a month by mid-2016, equivalent to exporting around eight million tonnes of LNG a year, Reuters reported.
Australia's Northern Territory Says No To Palatine's Fracking Plans
The Northern Territory government has shot down Palatine Energy’s plans to extract tight oil in the Watarrka national park, a move company managing director David Falvey has described as profoundly disappointing.
Transerv Touts Potential Of Perth Basin's Warro Gas Field
Transerv said Nov. 19 the impressive results of the review highlighted the immense potential for Warro to become a major player in the state’s domestic gas market.
Fracking Concerns Rife Among Community: Inquiry
A broad-ranging inquiry investigating hydraulic fracturing in Western Australia has found that there is a level of misinformation in the public domain associated with the drilling technique that can cause confusion and mistrust.
Australia's Northern Territory Chooses Jemena To Build Gas Pipeline
The 622-kilometer (386-mile) pipeline, scheduled to be completed in 2018, will run between Tennant Creek in the Northern Territory and Mount Isa in Queensland, Reuters said.
Armour Shareholders Say Yes To McClendon's $130 Million Deal
Having received shareholder approval for American Energy Partners’s US$130 million farm‐out in Australia, the Oklahoma City-based company's proportional bid for 13.62% of each Armour share priced at 25 cents will now proceed.
Australia's Santos Will Cut 200 Jobs
Majority of 200 jobs to be cut will be in the Adelaide headquarters. Recently, 565 jobs were cut. Santos is streamlining eastern Australia business, including Cooper Basin operations, Reuters said.