senex energy takeover
Australian gas producer Santos Ltd said on Thursday it rejected a A$9.5 billion ($7.2 billion) takeover approach in August, sending its shares up 13 percent on speculation another offer was likely to emerge. Find out the names of our 3 Post COVID Stocks – For FREE! Graeme Bethune, CEO of consultancy Energy Quest, reckons there just aren’t enough decent targets, while policy risks could put off buyers who aren’t already playing that field. He is a graduate in management and finance, with a particular interest in personal finance, investment psychology and New Zealand dual-listed stocks. However, the contract can be extended for an extra five years and bumped up to 0.35 PJ per year, taking the total gas quantity to be supplied to a potential 2.5 PJ. You can unsubscribe at anytime. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. The big producer is still in its “transformation” phase and we might have to wait a little longer to for Santos to move into its “build” phase to see if sparks fly between the two. Find the investing style that's right for you. Senex, for example, has about 539PJ of 2P reserves across its projects at three projects in Queensland and in the South Australia Cooper Basin holds about 15,000 square kilometres of oil and gas tenements. Last year analysts were widely predicting a wave of takeover activity among east coast gas companies, after a flurry of deals in the first half of 2018. Get the latest Stock & Small Caps news and insights direct to your inbox. Join Our Premium Community Senex Managing Director and CEO Ian Davies said the company is pleased to be providing natural gas to the Gladstone oil recycling plant. 1414 Degrees (14D) has announced it has recommissioned its GAS-TESS ahead of power export to the grid. "This gas sales agreement adds to our existing portfolio of domestic customers with a Queensland presence including CSR, Orora, Visy Glass and CleanCo Queensland, reinforcing Senex’s importance as a supplier of natural gas to the east coast market," Ian said. Both companies have production interests in in the Cooper Basin region which means, strategically, Senex closely matches two of the five core pillars in the Santos portfolio. A 2P means it’s proven and probable, while a 3P includes ‘possible’. Two other producers fit this description but sit just outside Queensland: Cooper Energy is in the corner of the Cooper Basin that’s in north-east South Australia, and Central Petroleum works in the Northern Territory, but after hooking into the Northern Gas Pipeline can now sell into the east coast. this thread... Last trade - 16.10pm 20/10/2020 (20 minute delay). ... it also drew attention to a market ripe for takeover. For investors, getting access to the right information is critical. Trading, Managed Gas will come from Senex's Project Atlas, which is Australia's first natural gas acreage dedicated to supplying domestic customers; Senex shares are grey in early trade, worth 33 cents per share; Oil and gas company Senex Energy (SXY) has struck a potential 7.5-year deal to supply gas to local oil refinery Southern Oil Refining in Queensland. In this FREE STOCK REPORT, Scott Phillips just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. A new report by consultancy Energy Quest suggests there are only sufficient Proved and Probable (2P) gas reserves and production to meet east coast domestic demand until around 2026. Markets coverage, company profiles and industry insights from Australia's best business journalists - all collated and delivered straight to your inbox. There is another overlap too. Senex’s Share Registry is managed by Computershare Investor Services Pty Limited (Computershare). Privacy Policy | A $13 billion bid to take over Australia’s biggest gas pipeline company and deliver Hong Kong company CK Infrastructure control of the majority of the nation’s major gas pipelines must be treated with “extreme caution”, government MPs and minor parties say. 12 Stocks To Buy in 2020 (Including 2 Every Investor Should Own), Everything You Need to Know About Tech Investing, The Beginner’s Guide to Investing in Gold. Those fortunes were based on shortages of gas in the east coast gas domestic market, actual shortages at the Gladstone, Queensland LNG trains, and visions of Asian behemoths and US private equity allegedly wanting to secure cheap Australian assets. And QGC has been middle-man in a spat: Arrow and its Surat Basin reserves is co-owned by Petrochina and Shell, which also owns QGC. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Last year analysts were widely predicting a wave of takeover activity among east coast gas companies, after a flurry of deals in the first half of 2018. Morning Update The takeover is subject to approvals, including from the Foreign Investment Review Board. Subscription Terms of Service, ACN: 146 988 052 | Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 4635, Ashmore, Qld 4214. SENEX Energy has withdrawn its $752 million takeover offer for fellow oil and gas group AWE after it was publicly rejected. Hear our experts take on shares, the market & how to invest. Fund performance data provided by Lipper. Based on the closing price of Senex shares on 12 December 2013 of $0.76, the takeover offer implied a price for AWE shares of $1.44 (Senex’s six month VWAP is $0.72 implying an AWE price of $1.37). In the half year to December, Senex produced oil volumes of 374,000 boe (barrels of oil equivalent) and gas volumes of 183,00 boe — compared with 18 kboe in the previous corresponding period. A selection of the main listed players in the small and mid levels of the east coast gas sector. Why didn’t all of those Queensland gas takeovers happen last year? The new acreage will help the company bump up Atlas gas production by 50 per cent to roughly 18 PJ per year. “From around 2025, production from Queensland’s coal seam gas fields is expected to fall by more than 100 PJ per annum in deliverability – the equivalent of an LNG import terminal every year,” the report said. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*. Icon Energy (ASX:ICN) and Real Energy (ASX:RLE) also have tenements in the Queensland side of the Cooper Basin. Senex Energy Ltd Annual Shareholders Meeting, UPDATE 1-Chinese firm makes $348 mln bid for Australian gas producer AWE, Australia's Santos shares soar after spurns $7.2 billion takeover approach. Target our investor community with our suite of Hotcopper Advertising opportunities. Corporate takeover targets. Prior to joining Senex, Ian was influential in the growth of the CSG-to-LNG industry in Queensland as Queensland Gas Company’s (QGC) Chief Financial Officer. APLNG this month bought the undeveloped coal seam gas project Ironbark from Origin Energy (ASX:ORG) for $213m. EY picked a 30 per cent growth in upstream deal flow. October 8, 2020 | Bevis Yeo, September 30, 2020 | Mike Cooper, September 23, 2020 | Nick Sundich. Today's news comes just one day after Senex was awarded new Atlas gas acreage by the Queensland Government. Each company boasts strong growth prospects over the next 3 to 5 years, and most importantly each pays a generous (and fully franked) dividend! BrainChip (ASX:BRN) bolsters balance sheet, launches investor podcast, ASX Today: Momentum points to positive start, Resolute Mining’s (ASX:RSG) CEO and Managing Director steps down, AUSTRAC launches formal investigation into Crown Resorts (ASX:CWN), Raiden Resources (ASX:RDN) completes maiden drilling at Kalabak, Vection Technologies (ASX:VR1) secures distribution partnership with TS Nuovamacut, Emerge Gaming (ASX:EM1) shares soar as three million gamers pre-subscribe to MIGGSTER, Oil and gas company Senex Energy (SXY) has struck a potential 7.5-year deal to supply gas to local oil refinery Southern Oil Refining in Queensland, Under the deal, Senez will supply 0.3 petajoules (PJ) of gas to South Oil's Northern Oil Refinery for the first 2.5 years, From here, the contract can be extended for an extra five years with gas supply bumped up to 0.35 PJ per year, Senex says the deal will support 32 jobs directly and hundred indirectly across Queensland, Gas will come from Senex's Project Atlas, which is Australia's first natural gas acreage dedicated to supplying domestic customers, Senex shares are grey in early trade, worth 33 cents per share. The former wants the reserves developed soon, the latter wants it to supply cheap gas to the LNG plant. You can do it. Motley Fool contributor Regan Pearson has no position in any of the stocks mentioned. It's free. On the shortlist as takeover targets were Senex Energy (ASX:SXY), Central Petroleum (ASX:CTP), Cooper Energy (ASX:CEO), Comet Ridge (ASX:COI) and Strike Energy (ASX:STX). Lunch Update. Senex Energy Limited is an independent Australian oil and gas exploration and production company. Email Lists I am a keen observer of Senex Energy because, despite not making a profit in the last three years, I think it is a well run company with good prospects. Scott just revealed what he believes are the. Financial Services Guide | Senex continues to support Queensland jobs with gas supply to Gladstone’s Northern Oil Refinery 21 September 2020 Senex awarded additional Atlas acreage, with Atlas production to be expanded by 50% to ~18 PJ/year 21 September 2020 Unsubscribe whenever your want. By clicking this button, you agree to our Terms of Service and Privacy Policy. Consolidation is on the cards among smaller players, particularly those with exposure to rising east coast gas prices. According to Senex, the contract will support 32 jobs directly and hundreds of jobs indirectly across Queensland. .fool-ecap.fool-ecap-id-19.fool-ecap-type-vanilla {background: #fff7c4;} aside section .fool-ecap-id-19.fool-ecap-type-vanilla h3 {font-size: 1.6em;} p.ecap-disclaimer {font-size: 0.6em!important;}div.fool-ecap.fool-ecap-id-19 form {position: relative;text-align: center;margin: .2em 1em;}.fool-ecap.fool-ecap-id-19 p.ecap-disclaimer {margin-left: 0px;} .fool-ecap.fool-ecap-id-19 p.above-email{ margin-bottom: 0px;text-align:center;} div.fool-ecap.fool-ecap-id-19 p {color: #464646;}.fool-ecap-type-vanilla.fool-ecap-id-19 h3 {color: #404040;display: block !important;}.fool-ecap-type-vanilla.fool-ecap-id-19 .ecap-disclaimer{color: #484848 !important;}.fool-ecap-id-19.fool-ecap-type-vanilla h3.title{display:none !important;} .fool-ecap.fool-ecap-id-19.fool-ecap-type-vanilla{ margin-bottom: 10px;}.fool-ecap-type-vanilla.fool-ecap-id-19 input[type="submit"] { margin: .5rem 0 .5rem !important;}.fool-ecap.fool-ecap-id-19 img {display: inline;}. Wood Mackenzie’s Mr Toleman believes QCG and APLNG may need extra reserves for later in the 2020s, but it’s more urgent for Santos which famously commissioned its LNG terminal without locking in place all of the necessary gas to feed it. Last month Santos revealed it had received a conditional take-over offer from Harbour Energy, an investment arm connected to international energy investment company EIG Partners. Senex is helping to meet the energy challenge on the east coast of Australia through natural gas development projects including Project Atlas, Australia’s first dedicated domestic gas acreage. The company has a $481.7 million market cap. Santos already has a substantial debt pile and with Senex currently valued at around $390 million any Santos takeover bid would almost certainly require a request from Santos for its shareholders tip more capital into the Adelaide-based energy operator. The Motley Fool Australia operates under AFSL 400691. But to me it seems like there is a lot of potential for Santos to simply acquire Senex which would likely have EIG’s blessings. The Senex Energy Ltd share price exploded 25% higher today after the Cooper Basin-based oil and gas producer received a double valuation upgrade from analysts at Macquarie Group Ltd and Credit Suisse.


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