After the Shell / BG deal everyone is scrambling to figure out who could be next in the merger & acquisition race. And so have we! We will be updating and commenting on the list regularly. ...
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Det største opkøb i oliebranchen i 10 år blev annonceret idag, da Shell oplyste at de vil opkøbe BG for 47 milliarder pund i en kombineret kontant- og aktiehandel. Det repræsenterer en 50% præmie ift. BG´s kurs igår, hvis markedsværdi er faldet markant i år pga. olieprisen. Shell aktien falder næsten 3% på nyheden. Vi tror […]
BG Group plc was a British multinational oil and gas company headquartered in Reading, United Kingdom. On 8 April 2015, Royal Dutch Shell announced that it had reached an agreement to acquire BG Group for $70 billion, subject to regulatory and shareholder agreement. The sale was completed on 15 February 2016. Prior to the takeover, BG Group was listed on the London Stock Exchange (BG.L) and was a constituent of the FTSE 100 Index.
Prior to its acquisition by Shell, BG Group had operations in 25 countries across Africa, Asia, Australasia, Europe, North America and South America and produced around 680,000 barrels of oil equivalent per day. It had a major Liquefied Natural Gas (LNG) business and was the largest supplier of LNG to the United States. As at 31 December 2009 it had total proven commercial reserves of 2.6 billion barrels (410,000,000 m3) of oil equivalent.
2000 to 2016
On 23 October 2000, a further demerger separated the company into Lattice Group and BG Group. Lattice took ownership of Transco (the gas transporter for the UK), Advantica (gas engineering and consultancy specialist) along with the property and transport companies and BG Group took ownership of gas fields and other assets. In 2002, Lattice merged with National Grid Company to become National Grid Transco which was renamed National Grid in 2005.
In June 2008 BG Group made a US$13.1 billion bid to acquire Origin Energy, Australia's largest coal-seam gas producer, but were outmanoeuvred by ConocoPhillips, who offered to invest US$9.1 billion in a joint venture with Origin. However, in October 2008 BG Group bought Queensland Curtis LNG for US$3.4bn in order to operate in Asia's liquefied natural gas market, and on 1 November 2010 BG Group announced plans to invest £9.3bn on the world's first project to liquefy and ship gas produced from coal deposits – the first in a series of "coal seam methane" projects in the region of eastern Australia; by late 2014 this was sending gas produced from coal deposits by pipeline to a terminal in Gladstone on the east coast. In October 2011 BG Group signed an US$8 billion deal with Cheniere Energy to export liquefied natural gas from the United States.
In October 2012 BG sold its 65% majority stake in Gujarat Gas Company for $470 million to the state-run Gujarat State Petroleum Corporation. In January 2014, BG Group announced the initial drilling of an oil exploration well offshore in Kenya.
In April 2015, Royal Dutch Shell announced that it had reached an agreement to acquire BG Group for $70 billion, subject to regulatory and shareholder agreement. If complete, BG shareholders will own 19% of the combined group, and Shell will have extensive access to BG's LNG assets, accelerating its global LNG and deep water strategy. Finalisation of the BG acquisition by Royal Dutch Shell was completed on 15 February 2016.
BG Group's main business was the exploration and extraction of natural gas and oil and the production of liquefied natural gas. It sold these products to wholesale customers such as retail gas suppliers and electricity generating companies. It also owned some gas pipelines and was involved in some power generation projects. It was active around the world, with only a minority of its business being in the UK. BG Group was a multinational company with operations in 27 countries. Key areas for the company included:
- QGC, coal seam gas upstream plays in Queensland's Surat and Bowen basin, and Curtis Island based LNG plant
- Operates the Rosetta and West Delta Deep Marine gas fields, LNG export
- Interest in the Karachaganak gas field
- Exploration licences with several discoveries
- Interest in the Bongkot gas field
- Trinidad & Tobago
- NCMA gas fields, Dolphin gas field, LNG export
- Operates the Miskar and Hasdrubal gasfields
Chapman stood down at the end of 2012 after 12 years as CEO, and was replaced by Chris Finlayson, previously managing director for 'BG Advance', a business function within the Group. Chapman continued as an advisor to BG Group until he retired in June 2013. Finlayson lost the confidence of the Board in 2014 and resigned, replaced by Andrew Gould.
On 15 October 2014 the company announced that Helge Lund, former CEO of Statoil, would become CEO. Lund left the company on 15 February 2016 following successful completion of the Shell acquisition and was replaced by a Shell appointed transition CEO.
RepRisk listed the BG Group as seventh in its top ten of "Most Environmentally and Socially Controversial Companies of 2010". Reasons for the company's inclusion are as follows. The BG Group were associated with deep-sea drilling plans in the Sicilian Strait. Karachaganak Petroleum Operating (KPO) consortium that includes BG was reportedly fined USD 21 million for environmental violations at the onshore Karachaganak Oil and Gas Field. BG subsidiary Queensland Gas Company's Queensland Curtis LNG Project had caused controversy in Australia. The exploitation of the Tarija natural gas reserves in Bolivia where another BG subsidiary operated. The report also criticized the remuneration given to its chief executive who had received GBP 28 million in cash, shares and pension contributions in 2009.:8
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- British Gas to split in February 1997[dead link]
- "Competition Commission Report Page 313" (PDF). Archived (PDF) from the original on 19 May 2011. Retrieved 18 April 2011.
- "Sarbos strikes again: BG to delist from NYSE". Itbusinessedge.com. Archived from the original on 21 May 2016. Retrieved 18 April 2011.
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- "BG invests £9.3bn in first of its kind LNG project". Added latest project details. Archived from the original on 4 November 2010. Retrieved 16 November 2010.
- "BG Group signs 'ground-breaking' $8bn gas deal with US". The Telegraph. 26 Oct 2011. Retrieved 2 November 2011.
- "Cheniere and BG ink $8 bln deal to export US LNG". Reuters. 26 Oct 2011. Retrieved 2 November 2011.
- Reuters (3 October 2012). "BG offloads Gujarat Gas stake for $470 mln". Reuters.
- BG Group and partners strike oil offshore Kenya, Africa: Oil Review Africa, 2014
- "Shell agrees deal to buy energy rival BG Group for $70bn". The Telegraph. 8 April 2015. Retrieved 8 April 2015.
- "Recommended Cash And Share Offer For BG Group PLC By Royal Dutch Shell PLC" (PDF). [permanent dead link]
- Jess McHugh. "Shell-BG Group Acquisition Complete, As Energy Giant Focuses On Liquefied Natural Gas". International Business Times. Retrieved 15 February 2016.
- "Data Book 2010". Bg-group.com. Retrieved 18 April 2011.
- "Remuneration report". Annual Report & Accounts 2008. BG Group. Archived from the original on 14 June 2011. Retrieved 23 August 2009.
- "BG names industry veteran Finlayson as CEO". Reuters. Reuters. 13 December 2012. Retrieved 13 December 2012.
- "No 'sacred cows’ as BG considers asset sell-off". The Telegraph. 1 May 2014. Retrieved 19 May 2014.
- "Currently CEO of Statoil, Helge Lund will join @BGGroup from 2 March, 2015". twitter.com. BG Group. Retrieved 15 October 2014.
- "Helge Lund blir toppsjef i britiske BG". DN.no. Retrieved 15 October 2014.
- Bousso, Ron. "Shell names top executive to head BG during complex integration". Reuters UK. Retrieved 2017-02-06.
- Karen Reiner (December 15, 2010). "Most Environmentally and Socially Controversial Companies of 2010" (PDF). Zurich: RepRisk. Retrieved 19 May 2014.