Shale gas 開発 Daniel Yergin The Quest
16 The natural gas revolution
George P. Mitchell
Mitchell Energy & Development
Texasで天然ガス PipelineでChicago に供給契約 ガス埋蔵量減少
1980年代初めからBarnett shale （around Dallas & Fort Worth )を20年近く開発、他は全て撤退 1997 last one
Sec 29 Unconventional natural gas 開発でFederal tax credit
1998年末に新技術 LSF (Light Sand Fraccing） 生産量増大
Oklahoma のDevon Energy (Larry Nichols)
自社技術の Horizontal drilling と合わせ、技術完成
カナダ British Columbia州におけるシェールガス開発・生産プロジェクトおよびLNGプロジェクトへの参画について
同州North Montney地域におけるシェールガス鉱区の10%権益を取得するとともに、同州西海岸におけるPacific Northwest LNG Project（生産量1,200万トン/年）の10%権益と同権益比率相当のLNG（120万トン/年）を引き取る権利を併せて取得する予定。
中流 Lelu島、Prince Rupert
Petronas makes strategic enty into Canada
Subsidiary acquires interest in shale gas assets for CDN$1.07 billion.
PETRONAS, through wholly-owned subsidiary PETRONAS International Corporation Ltd (PICL), has reached an agreement to form a strategic partnership with Canada-based Progress Energy Resources Corporation to develop the Altares, Lily and Kahta shale gas assets in northeastern British Columbia.
Under the agreement signed on 2 June 2011, PICL will acquire 50 per cent of Progress’ interest in the three areas for a total consideration of CDN$1.07 billion (RM3.32 billion). The assets included in the transaction cover approximately 150,000 gross working-interest acres of land with an estimated contingent gas resource of more than 15 trillion cubic feet. The assets will be operated by Progress.
The proposed acquisition will mark PETRONAS’ maiden entry into Canada and will allow for accelerated upstream growth that could potentially advance a liquefied natural gas (LNG) export value proposition in that country. PETRONAS views the acquisition as a highly attractive opportunity, paving its entry into the North American shale gas industry while at the same time further strengthening its position as a leading global LNG player.LNG options
In addition to the above Transaction, PETRONAS and Progress will establish an LNG export joint venture to be 80% and 20% owned, respectively. The LNG Export Joint Venture will launch a feasibility study to evaluate building and operating a new LNG export facility on the West Coast of British Columbia. PETRONAS would be the operator of this facility, and PETRONAS and Progress would jointly market the LNG utilizing PETRONAS' well-established and extensive network of customers in the largest LNG markets globally.
As part of the acquisition, PETRONAS and Progress have agreed to establish an LNG Export joint venture to conduct a feasibility study on the economic viability of an integrated LNG Export facility in Western Canada. This could provide a strategic alternative to the traditional North American pipeline gas market.
The two companies have also agreed to collaborate on other potential natural gas opportunities in Western Canada.
The transaction is conditional upon relevant regulatory approvals and PETRONAS expects the transaction to close in the third quarter of 2011.
Bank of America Merrill Lynch is the exclusive financial advisor to PETRONAS on this transaction.
Jun 28, 2012
Petronas to Acquire Progress Energy
Companies agree to $5.5 Billion Acquisition
PETRONAS, the Malaysian national oil and gas company, and Progress Energy Resources Corp. today announced that PETRONAS’ Canadian subsidiary, PETRONAS Carigali Canada Ltd, and Progress have entered into an agreement for the purchase by PETRONAS Canada of all of Progress’ outstanding common shares at a cash price of C$20.45 per share.
Including the amount to be paid for Progress’ outstanding convertible debentures, the transaction is valued at approximately C$5.5 billion.
The transaction is to be completed by way of an arrangement under the Business Corporations Act (Alberta).
Oct 20, 2012 Reuters
Canada has blocked Malaysian state oil firm Petronas' C$5.17 billion ($5.2 billion) bid for gas producer Progress Energy Resources in a surprise move that could signal problems for a much larger Chinese deal in the country's energy sector.
2013/2/13 Bloomberg News
Malaysian Prime Minister Najib Razak asked his Canadian counterpart Stephen Harper to reverse the initial rejection of Petroliam Nasional Bhd.’s $5.2-billion takeover of Progress Energy Resources Corp., correspondence between the two leaders shows.
Najib wrote to Harper promising that Petronas, as the country’s state-owned oil company is known, would invest $68-billion to $70-billion over 30 years to develop the natural gas reserves of Calgary-based Progress, according to a Nov. 2 letter obtained by Bloomberg News under Canada’s freedom-of-information law.
Najib expressed concern about the rejection and reassured Harper that the Malaysian government “does not interfere with the commercial decisions and operation” of Petronas, the documents show.
After months of uncertainty, the Conservative government finally broke its silence Friday — approving two contentious foreign takeovers (Nexen and Progress takeover deals) that are destined to form the basis of Canada’s investment strategy for years to come.
“When we say that Canada is open for business, we do not mean that Canada is for sale to foreign governments,” Prime Minister Stephen Harper told reporters in Ottawa.
“The government’s concern and discomfort for some time has been that, very quickly, a series of large-scale controlling transactions by foreign state-owned companies could rapidly transform this industry from one that is essentially a free market to one that is effectively under control of a foreign government.”
“The government of Canada has determine that foreign state control of oil sands development has reached the point at which further such foreign state control would not be of net benefit to Canada,” Mr. Harper said.
Petronas completes $6-billion Progress Energy acquisition after deal gets Ottawa’s approval
Malaysian state-owned energy firm Petronas has completed its $6-billion takeover of Progress Energy Resources Corp.
The deal won Ottawa’s approval on Friday after having initially been rejected as not being of “net benefit” to Canada.
Progress’ shares and debentures are expected to be delisted from the Toronto Stock Exchange on Monday.
Petronas plans to build a liquefied natural gas export terminal near Prince Rupert, B.C., which will now be 60% larger than would have been the case had the deal not gone through.
The Petronas Progress deal was approved on the same day Ottawa gave the green light to the $15.1-billion takeover of Nexen Inc. by China’s CNOOC Ltd.
That larger and more controversial transaction still has more hoops to jump through before it closes, including U.S. regulatory approval, as Nexen has operations in the Gulf of Mexico.