Oil & Gas

OPINION: Incentives or government intervention might be needed to align the interests of the many joint venture partners in WA’s major LNG assets.

International energy consultancy Xodus Group has announced that it signed an agreement to acquire North Fremantle-based Green Light Environmental.

Santos has increased its gas production in Western Australia, following its $2.9 billion takeover of Quadrant Energy late last year.

Woodside Petroleum has reported a 32 per cent drop in second-quarter revenue, the first decline in six quarters, as it was hit by an extension of planned maintenance at its Pluto liquefied natural gas facility and weaker prices.

Oil Search says both its second-quarter production and revenue have dipped by 5 per cent as expected, but analysts were reportedly looking for a more substantial first-half recovery after last year's earthquake in Papua New Guinea.

A UK-based specialist engineering firm is aiming to list on the ASX, with CPS Capital Group appointed lead manager for a $5 million pre-IPO raising.

Australia exported 75.1 million tonnes of LNG in the 2019 financial year, 21.2 per cent higher than the previous fiscal year prior, and is expected to become the largest LNG producer in the world this financial year.

Shareholders have welcomed Matrix Composites & Engineering’s market update, as the company said it expects the half-year to June 30 to be its best six months since 2016.

Shares in Pura Vida Energy surged more than 80 per cent higher today, to 3.1 cents, after it secured a binding farm-in agreement with UK-based Gemini Resources to earn a 35 per cent interest in two onshore oil and gas projects in Poland.

Calima Energy has raised around $12.7 million, via a placement and entitlement offer, with the funds set to be primarily used for general working capital purposes.

Oil Search has exercised a $US450 million ($A642 million) option to double its stake in a string of Alaskan exploration leases, while also affirming plans to sell off a portion of its first major venture outside Papua New Guinea.

Woodside Petroleum has announced it has restarted production at its Pluto LNG plant, following maintenance delays at the plant.

SPECIAL REPORT: Defence work is providing opportunities for businesses with oil and gas prowess such as Matrix Composites & Engineering.

AusGroup and Southern Cross Electrical Engineering have each announced several contract wins, each worth a combined figure of around $25 million.

Shell has shipped the long-awaited first cargo of liquefied natural gas from its massive Prelude floating LNG plant off north-west Australia, sealing the nation's position as the world's top exporter of the fuel.

Woodside Petroleum has forecast its 2019 output will be at the lower end of its guidance of 88 million to 94 million barrels of oil equivalent, as a result of maintenance issues at its Pluto liquefied natural gas plant.

With the Environmental Protection Authority starting public consultation today on its greenhouse gas assessments, the state government could do more to provide certainty for investors in WA’s potential gas projects.

Santos and Carnarvon Petroleum say they have confirmed the discovery of a major oil and gas resource off the coast of Western Australia.

Strike Energy has executed a $5 million sales option with Wesfarmers subsidiary CSBP, for up to 100 petajoules of gas from its half-owned West Erregulla project.

Chevron has started the second stage of its Gorgon drilling campaign, which will create 11 new wells at the $5 billion project on Western Australia’s north-west coast.

The Environmental Protection Authority will commence formal consultation next month on its greenhouse gas guidelines, refuting media reports it has already decided to revive the guidelines that caused industry outrage earlier this year.

Buru Energy has confirmed Andrew Forrest has taken a small stake in the company, after the oil producer responded to a price query today.

ASX-listed Strike Energy will not receive its federal government research and development tax credits for the 2018 financial year, a week after West Perth-based Northern Minerals was ordered to pay back 50 per cent of its $21.56 million R&D rebate for the same financial year.

A proposed pipeline fabrication facility to be built near Exmouth could be back on the drawing board just months after proponent Subsea 7 submitted an alteration to its environmental proposal.

ConocoPhillips has awarded the first engineering contract for its Barossa offshore project to Technip Oceania for the supply of the subsea production system and associated installation support.

Canadian contractor SNC Lavalin has announced it picked up work at two gas operations in Western Australia, including design work for a new power station at the Devil Creek gas plant.

The federal Labor opposition needs to lock down the details of its emissions policy before the impact will be clear, according to Woodside chief executive Peter Coleman, but the ability to buy international offsets will be key to keeping the cost of carbon reduction low.

More than 100 unique arbitration proceedings were conducted in Western Australia during the 2017-18 financial year, the first-ever survey of the sector has found.

Electricity and gas retailer Origin Energy has posted a 53 per cent rise in third-quarter gas production revenue from its stake in Australia Pacific LNG, driven by higher oil prices.

Energy sector analyst Wood Mackenzie has declared the liquefied natural gas (LNG) boom is back, with a prediction that more than $US200 billion will be invested in the sector over the next six years.

After a prolonged intermission, oil and gas activity in the Perth Basin appears to be picking up.

Woodside Petroleum has posted a four per cent rise in first-quarter revenue, as it earned more for its oil and gas.