It's good for CVN, page-9

It's actually US$10.7/boe for their 2P reserves of 6.525 Bboe or US4.11/boe for the entire 17Bboe if one uses the deal value vs reserves/resources. (GBP47bil is US70bil).

That US90/bbl is factored in for 3 years from 2018-2020. Shell r factoring in oil price of US67/bbl for 2016 & US75/bbl in 2017.

Shell's focus is clearly on gas longterm.

The mind boggles for their Oz windfall, when they bring
- Prelude (67.5% equity) online in a few years,
- Gorgon (25% equity).
- Already hold 16.66% in NW Shelf gas (note: NWS oil was sold to WPL in 2008 for US398mil at US18.7/bbl-2P).
- QCLNG-Arrow

It's sad that the local onshore heavyweights in QLD-SA, ie STO & ORG could have synergised their interests rather then go solo & watch the global giants run away with the projects.

Afterall Shell discovered most of the coal in the Surat basin (Wandoan etc) in the 60-70's as well as Degulla coal deposit, Pentland etc in the Galilee Basin. Their track record is second to none in Oz.  

For now QCLNG provides Shell with instant cashflw, as first cargo was shipped over Xmas last year & the second train comes online in Q3'15.

BG's hidden ace is actually Tanzania gas discovery that will support a 2 x 5mtpa LNG train, 16 tcf or 2.66 Bboe net contingent resource (60% interest, the rest 20:20 is shared by Ophir & Pavilion).

This 2.66 Bboe of discovered resource will b converted to reserves as they tick various hurdles. Their drilling record in 2 blocks in offshore Tanzania boasts of 16 successive drilling/appraisal discoveries including DST's that ripped 101 mmcfd from Mzia-2 and 57 mmcfd from Mzia-3 well from a Cretaceous Deepwater Fan. 1780m water depth isn't a challenge to commercialise a gas discovery in East Africa.

So one could argue 16 Tcf gasfield in Tanzania is peanuts, compared to the 70 Tcf Mozambique gas fields held by Anadarko, ENI. Clearly the big players r focussed on harnessing gas for the future.