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..

More to be raised to fund APLNG JV

Origin is assessing a range of funding options for the joint venture, which includes tapping debt markets ,  conducting another equity raising and selling up to 7.5% interest in APLNG.

Origin and Conoco Phillips have agreed to sell LNG cargoes and 15% of the project to China's Sinopec, reducing their holdings to 42.5% each. Talks with other potential LNG buyers continue and that Origin expects to end up with more than 35% of the project's equity, but probably closer to 40%.  

Origin is optimistic about raising more through share issue after $2.3 billion capital raising

Origin Energy will raise 2.3 billion Australian dollars (US$2.32 billion) through share issue on the Australian market this year.Proceeds will reduce debt associated with the A$3.26 billion purchase of electricity assets privatized by the New South Wales state government.

Origin will continue to have Australia's strongest balance sheets

Origin already had one of Australia's strongest balance sheets after it sold a half share of its coal seam gas assets in Queensland state to U.S. oil major ConocoPhillips (COP) in 2007 for up to US$8 billion. By launching the raising early in 2011, Origin has been able to reinstate full year underlying profit guidance of around 15% growth, having lowered it last month to 10-15%, because paying off debt will reduce its interest bill.