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Natural Gas Assets News

26 Nov 2017

8 Energy Firms Commit to Reduce Methane Emissions

BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall have committed to further reduce methane emissions from the natural gas assets they operate around the world. The energy companies also agreed to encourage others across the natural gas value chain – from production to the final consumer – to do the same. The commitment was made as part of wider efforts by the global energy industry to ensure that natural gas continues to play a critical role in helping meet future energy demand while addressing climate change. Since natural gas consists mainly of methane, a potent greenhouse gas, its role in the transition to a low-carbon future will be influenced by the extent to which methane emissions are reduced.

22 Jul 2015

Keppel Signs $684m FLNG Conversion Deal with Golar

Keppel Shipyard has signed its third contract with Golar Gandria for vessel conversion works. The $684 million contract to convert a liquefied natural gas (LNG) carrier to a floating liquefaction facility (FLNG) with the subsidiary of United Kingdom-based Golar LNG will become effective by Sep 21, said Keppel. The contract will become effective upon the parties fulfilling certain conditions precedent by 21 September 2015. The award of the conversion of the Gandria marks the exercise of the second of two options, which were part of a contract awarded by Golar to Keppel Shipyard for the conversion of the Moss LNG carrier, HILLI, into a GoFLNG facility. The first option was exercised in December 2014 for the conversion of the GIMI, also a Moss type LNG carrier.

26 Nov 2014

Zargon Oil & Gas Sells Hamilton Lake Assets

Zargon Oil & Gas Ltd. announces that it has entered into a definitive purchase and sale agreement to sell its Hamilton Lake property for $25 million. Zargon has entered into an agreement to sell its petroleum and natural gas assets in Hamilton Lake for a total consideration of $25 million that is comprised of $22.5 million in cash (before adjustments) and $2.5 million in marketable securities. This transaction is scheduled to close prior to December 31, 2014 and is subject to customary industry closing conditions. The cash proceeds of the disposition will initially be used to reduce bank indebtedness. The Hamilton Lake property has been…

09 Jan 2007

Forest to Acquire Houston Exploration in $1.5b Deal

Forest Oil Corporation has entered into a definitive agreement to acquire 100 percent of the outstanding stock of The Houston Exploration Company in a stock and cash transaction totaling approximately $1.5 billion plus the assumption of net debt estimated to be $100 million at December 31, 2006. Forest Oil worked with JANA Partners LLC (JANA), the holder of 14.7% of the outstanding shares of Houston Ex, with the result that JANA on Sunday agreed to vote in favor of the transaction. JANA has also agreed not to propose any extraordinary transactions with Forest or to seek to influence the management or control of Forest for a year following the close of the transaction. The transaction positions Forest as one of the top independent onshore North American exploration and production companies.

18 Nov 2005

Shell, Total Exchange Interests

Shell Exploration & Production announced today an agreement for a like kind exchange with Total E&P USA. Under this agreement, Shell will exchange its 17 percent non-operated interest in the deepwater Gulf of Mexico Tahiti field for Total's interests in natural gas assets in South Texas. The Tahiti field is operated by Chevron and located in Green Canyon blocks 596, 597, 640 and 641 in 4,100 feet of water, approximately 190 miles southwest of New Orleans. In exchange for its interest in Tahiti, Shell will acquire Total's operated interests in three natural gas fields and additional interests in a fourth field, now operated by Shell.