Thursday, 10 November, 2022 - 14:30
Perth Basin heats up with Warrego bid
Strike Energy is hoping to merge with its West Erregulla project partner Warrego Energy in a $227 million deal.
Warrego Energy Limited (WGO, formerly Petrel Energy Limited) was a UK / Australia based petroleum exploration, development and production company with assets in Australia, Spain and Uruguay.
Warrego completed a RTO with Petrel Energy in 2018.
Warrego was acquired by Hancock Energy in 2023.
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Strike Energy is hoping to merge with its West Erregulla project partner Warrego Energy in a $227 million deal.
A battle is looming for Perth Basin hopeful Warrego Energy, with Beach Energy lobbing the second takeover offer revealed in two days.
Warrego Energy has agreed to a takeover offer from Kerry Stokes-backed Beach Energy, bypassing a competing offer from its joint venture partner, the John Poynton-chaired Strike Energy.
Strike Energy boss Stuart Nicholls has implored joint venture partner Warrego Energy to reconsider a $246 million cash takeover from Beach Energy, flagging a potential change in development plans.
Gina Rinehart's Hancock Prospecting could help solve a looming WA gas shortage, pledging to boost Perth Basin investment as it becomes the third company chasing Warrego Energy.
Hancock Prospecting has lifted its bid for Warrego Energy to almost $350 million just hours after Kerry Stokes-backed Beach Energy upped the ante.
Mark Pownall and Mark Beyer discuss Fiona Hick, RISE Awards, Ron Packer, Warrego, Water Corporation and Kate Jenkins' recent report on harassment.
Warrego Energy shares are continuing skyward as investors wait to see whether Stokes-backed Beach Energy will match rival bidder Gina Rinehart’s $350 million cash offer for the Perth Basin developer.
Matt Mckenzie talks about what he learned when he covered a political rally while in the US, and Jordan Murray discusses his recent conversation with the Washington's new top diplomat in WA.
Strike Energy has muscled back in amid the fight for ownership of its joint venture partner Warrego, lifting its stake in the target to 19.9 per cent to become its biggest shareholder.
The board is set for Gina Rinehart’s Hancock Energy to take control of Perth Basin desirable Warrego Energy after Kerry Stokes-backed Beach Energy declined to match a $342 million cash offer.
John Poynton-chaired Strike Energy has lobbed another scrip takeover proposal for joint venture partner Warrego Energy, countering a $342 million cash offer from Hancock Energy currently on the table.
The board of ASX-listed oil and gas company Norwest Energy will wait until the new year to cast its verdict on Chris Ellison’s offer for the business amid fierce competition for Perth Basin assets.
Business News values the assets of WA’s richest people, and explores how they’ve used that wealth in 2022.
Hancock Energy has revealed a cohort of Warrego shareholders pledging to support Gina Rinehart’s $342 million cash offer for the business, hitting back at a scrip bid from Strike Energy.
Gina Rinehart’s Hancock Prospecting has lifted its stake in Perth Basin gas play Warrego Energy to 25.9 per cent as a stand-off looms with rival bidder Strike Energy.
Jordan Murray covers the latest from Hancock Prospecting's bid for Warrego Energy and fresh data from the Australian Bureau of Statistics and CoreLogic.
Jordan Murray covers the latest on Warrego Energy, DevelopmentWA and Sanity.
Shares in Warrego Energy jumped late today on heavy trading with Chris Ellison’s Mineral Resources believed to have joined the takeover battle for the Perth Basin gas play.
Gina Rinehart’s Hancock Prospecting has launched what is effectively the seventh takeover bid for Warrego Energy in the space of two months, jacking up its offer price by 29 per cent.
Jordan Murray covers the latest on the battle for Warrego Energy, oil and gas exports, vineyard sales and Black Mountain Energy.
Mark Pownall and Mark Beyer discuss Warrego Energy, Blackburne, South West vineyards, Chevron, population and housing trends, AusGroup and Clough.
UPDATED: Warrego Energy has taken the unusual step of publicly criticising the two bidders for the company while Mineral Resources has revealed a 16 per cent stake.
Jordan Murray covers the latest on Warrego Energy, Mustera Property Group and Pilbara land allocations.
The Norwest Energy board has recommended its shareholders reject Mineral Resources’ takeover offer, claiming the $403 million bid was “opportunistically timed”.
Warrego Energy bidders Hancock Prospecting and Strike Energy have traded blows over the takeover battle for the Perth Basin gas play after Strike’s off-market bid opened.
Chris Ellison-led Mineral Resources has increased its stake in Warrego Energy to 19.2 per cent boosting its capacity to determine the final outcome of the takeover battle.
Senior journalist Matt Mckenzie discusses his recent analysis of the state's infrastructure pipeline and explains the opportunity cost that comes with prioritising projects.
Chris Ellison’s Mineral Resources has said its 19.2 per cent stake in Warrego Energy is “strategic”, and claimed gas assets in the Perth Basin are now overpriced.
Kerry Stokes-backed Beach Energy has reported a drop of more than 10 per cent in its estimated Perth Basin gas reserves after undertaking a drilling campaign at Waitsia.
Hancock Prospecting has extended the acceptance period for its Warrego Energy bid by 10 days as it trumpets the support of another major shareholder in the target.
John Poynton-chaired Strike Energy says it will not improve its scrip offer currently before undecided Warrego Energy investors, with the course of the takeover attempt still hanging in the balance.
Hancock Prospecting may have secured the lead it needs to edge out Strike Energy in the fight for Warrego after Mineral Resources sold its stake in the target.
Origin Energy has agreed to assign its interests in joint venture exploration permits in WA’s Canning Basin, including the massive Rafael gas and condensate discovery to Buru Energy for no upfront payment. Origin will also pay Buru up to $4 million to fund a 3D seismic survey for its gas and condensate discovery Rafael 1.
Rationalisation of WA’s domestic gas sector has taken another step with Mineral Resources securing control of its joint venture partner Norwest Energy.
Billions of dollars of investment could be in the pipeline for Perth Basin as the state faces a crippling gas shortage within a decade.
Chris Ellison-led Mineral Resources has moved to a compulsory acquisition of its Perth Basin partner Norwest Energy after securing a more than 90 per cent stake in the company.
A joint venture between Gina Rinehart’s Hancock Energy and John Poynton-chaired Strike Energy has been granted a gas production licence at the West Erregulla project in the Perth Basin.
Hot on the heels of kicking off the oil well pad construction at the Rafael Shallow 1 project in Western Australia’s Canning Basin earlier this week, Buru Energy has named David Maxwell as the company’s new chairman. Maxwell will replace retiring chairman and founding shareholder Eric Streitberg, who is regarded as an industry stalwart after compiling a 50-year career.
The state’s peak planning body has approved a $145 million gas plant at Gina Rinehart’s Hancock Energy and John Poynton-chaired Strike Energy’s West Erregulla project.
Name | Position | Year Started | Year Ended |
---|---|---|---|
Non-Executive Chair
|
2018 | 2023 | |
Executive Director
|
2019 | 2023 | |
Chief Executive Officer, Managing Director
|
2007 | 2023 | |
Non-Executive Director
|
2010 | 2023 | |
Group Financial Controller
|
2020 | 2023 | |
General Counsel, Company Secretary
|
2023 | ||
Chief Financial Officer & Secretary
|
2023 | ||
Non-Executive Director
|
2021 | 2023 | |
2023 | |||
2023 | |||
Operations Coordinator, Transition Planning
|
2019 | 2020 | |
Non-Executive Chair
|
2011 | 2019 | |
Non-Executive Director
|
2011 | ||
Non-Executive Director
|
2011 | ||
Non-Executive Chairman
|
2011 | ||
Non-Executive Deputy Chairman, Non-Executive Chairman, Non-Executive Director
|
2011 | ||
Non-Executive Director
|
2009 | ||
Non-Executive Chairman
|
2009 | ||
Managing Director
|
2009 | ||
Non-Executive Director
|
|||
Chief Financial Officer, Company Secretary
|
|||
Non-Executive Director
|
|||
Non-Executive Director
|
|||
Executive Director
|
|||
Executive Director
|
|||
Executive Chairman, Executive Director
|
|||
Non-Executive Director
|
|||
Executive Director
|
Date | Company | Transaction Type | Total Value | |
---|---|---|---|---|
Warrego Energy | Placement | $50.00m | >> | |
Warrego Energy | Placement + share purchase plan | $32.78m | >> | |
Warrego Energy | Placement | $15.00m | >> |
Announced | Bidder | Target | Transaction Type | Total Value | |
---|---|---|---|---|---|
Mineral Resources | Warrego Energy | Asset acquisition | $83.00m | >> | |
Hancock Prospecting | Warrego Energy | Acquisition | $281.32m | >> | |
Beach Energy | Warrego Energy | Acquisition | $305.78m | >> | |
Strike Energy | Warrego Energy | Acquisition | $227.50m | >> | |
Strike Energy | Warrego Energy | Asset acquisition | $22.00m | >> |