chinese, page-96

Hi Gasbag

Consolidation in Cooper Basin is now finished by this move by Chevron, as Chevron has bought nearly the biggest part of it.

You can see that BPT owns 100% of EP-218P and now gives 60% of it to Chevron but still keeps 40% which is still a big portion. BPT sells all of its shares in ATP-855P to Chevron.

The blue area on the map below is the shale gas fairway. You can see Chevron now buys the biggest part of the shale fairway in Cooper Basin. Only BG Group has 60% of the ATP-940P.

The question is here; What Chevron is going to do with this gas in Cooper? There is no gas pipeline connection to NWS from Cooper! Cooper's gas good for QLD LNG plants as there is a connection from Cooper to Gladstone.

I can think of some conspiracy theories here but leave them for now.

Now it's Canning Basin's turn for seeing more consolidation.
And I think it's Buru's turn!

There are few moves can be in Canning from here.

1) Buru will sell a portion of its assets to a major. Eris clearly says that they need to sell some assets for funding of $500m 600km pipeline to Pilbara (If they need this pipeline is not clear though).

2) However a major might come in and want the whole of Buru.

3) When any hydrocarbons are proved NSE is in takeover danger, but not now. It's partners; Conoco and PetroChina will be solid there.