Wednesday, February 1, 2012

Fairborne Energy sells Alberta property for $47M

Fairborne Energy Ltd has entered into an agreement with a private oil and gas company to sell its entire WI in the Clive D2A and D3A units, associated non unit production, and other rights associated with the Clive CO2 development in Alberta for C$47.5 million (US$47.32 million). Continue reading here..

Senex Energy Acquires 20% interest in Orca Energy for $4.3M

Senex Energy Ltd will acquire 19.99% stake in Orca Energy Ltd (formerly Monitor Energy Ltd) for US$4.28 million. Orca will issue 115 million new shares at A$0.035/share. Continue reading here..

Petrobank Energy divests oilsands property for $224M

Petrobank Energy and Resources Ltd has signed an agreement with Grizzly Oil Sands Ulc to sell its May River oilsands property in Alberta for a cash consideration of C$225M (US$224.15 million). The May River property also includes the Conklin demonstration project. TD Securities Inc and UBS Securities Canada Inc have acted as financial advisors to Petrobank on this transaction. Continue reading here..

Aurelian Oil & Gas Considers Strategic Alternatives

Aurelian Oil & Gas Plc, a $132 million market cap company, has engaged Greenhill & Co to assist in a strategic review in order to maximize shareholder value. This review will assess a wide range of options for the company including the sale of assets, or the merger or sale of the company. Continue reading here..

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..

BG Ups Investment in Australian Shale

Queensland Gas Company (QGC), a subsidiary of UK supergiant BG Group, will acquire a 9.4% stake in Sydney-based Drillsearch Energy after exercising options granted as part of A$130 million (US$138.2 million) joint venture agreement signed last year which will see the pair explore and develop shale gas permit in Australia’s onshore Cooper basin. Continue reading here..

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