Wednesday, February 1, 2012

Australia Unconventional Boom – CBM and now Shale

The majors entered Australian unconventional assets, notably, starting 2008. British major BG made the first acquisition in QGC, on the same date exactly 4 years ago when it acquired 9.9% stake in QGC and 20% stake in its CSG assets. This deal was followed by Petronas acquiring 40% interest in Queensland LNG project from Santos for $2.5 billion. Supermajor ConocoPhillips joined the CBM party by acquiring 50% interest in Origin Energy’s CBM assets in Queensland for $8 billion-the largest and the most expensive deal in Australia CBM. Continue reading here..

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