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Wednesday, April 15, 2015

SHELL TO ACQUIRE BG: IMPLICATIONS FOR THE NORTH SEA

SHELL TO ACQUIRE BG: IMPLICATIONS FOR THE NORTH SEA

Apr 15th, 2015 
by John Donovan. 
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Screen Shot 2015-04-15 at 12.57.29
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14 April 2015
Screen Shot 2015-04-08 at 08.12.04Shell announced an offer of a £47bn ($70bn) acquisition of BG in the second biggest oil and gas deal on record after Exxon and Mobil’s £51bn ($75.3bn) merger in 1998.  Shell and BG expect to make annual savings of £1.7bn ($2.5bn) and the combined company is estimated to be worth £180bn ($266bn). The transaction will create the largest independent LNG producer in the world forecast to produce nearly a fifth of global LNG supply in 2017-18. The other major prize for Shell is BG’s Brazilian oil portfolio of mean total reserves and resources amounting to 6 billion boe and gross production expected to peak at 2.6 million boepd.
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Posted in: Africa, Australia, Ben van Beurden, BG Group, Brazil, Gas, LNG, Oil, Oil Prices, Royal Dutch Shell Plc.
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