Key Developments: BG Group PLC (BG.L)

BG.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

BG Group PLC Declares Interim Dividend
Thursday, 31 Oct 2013 03:00am EDT 

BG GROUP plc announced an interim dividend of GBP0.1307 per ordinary share ($448 million) in respect of the year ending December 31, 2013 was paid on September 6, 2013 to shareholders on the register as at August 9, 2013.  Full Article

BG Group PLC Signs Agreement With Azure Midstream Energy, LP
Thursday, 17 Oct 2013 06:31am EDT 

BG Group PLC announced that it has signed a definitive agreement with Azure Midstream Energy, LP (Azure) for the sale of its entire holding in TGGT - a joint venture midstream company operating in east Texas and north Louisiana, USA. BG Group will receive a net cash consideration of $231 million along with a $17 million stake in Azure, equating to an approximate 4% equity holding, for its entire 50% equity holding in TGGT. BG Group's sale of its interests in TGGT is aligned with a key strategic commitment to more actively manage its portfolio as the Company focuses on its core strengths of exploration and production and LNG.  Full Article

Enagas SA Acquires Second Tranche Of 20% Stake In GNL Quintero Owned By BG Group PLC With Oman Oil Co SAOC As Partner
Wednesday, 4 Sep 2013 11:48am EDT 

Enagas SA announced that it has increased its stake in GNL Quintero terminal in Chile with the acquisition of the second tranche of 20% owned by the BG Group PLC. To carry out this transaction, Enagas SA enabled Oman Oil Co SAOC to become a partner, with 49% of Terminal de Valparaiso, where Enagas SA will continue to be the majority shareholder. Enagas SA becomes the primary shareholder in the terminal. The deal falls under the agreement signed by Enagas SA to acquire, in two tranches, BG Group PLC’s 40% shareholding in GNL Quintero in April 2012. Enagas SA incorporated the company Terminal de Valparaiso for the acquisition of the first tranche, of 20%, which was completed in September 2012. The acquisition of the remaining 20% by Terminal de Valparaiso required an investment of USD 176 million. Subsequent to this deal, GNL Quintero's shareholders are as follows: Terminal de Valparaiso (40%), ENAP (20%), Endesa Chile (20%) and Metrogas (20%).  Full Article

BG Group PLC Announces Interim Dividend
Friday, 26 Jul 2013 02:00am EDT 

BG Group PLC announced that it has declared interim dividend increased 10% to GBP0.1307 per share (GBP0.0851).  Full Article

Galp Energia SGPS SA Announces Conclusion of Drilling and Formation Test of Fourth Exploratory Well in Iara Area in Block BM-S-11 in Consortium with Petroleo Brasileiro Petrobras SA and BG Group PLC
Wednesday, 24 Jul 2013 05:32pm EDT 

Galp Energia SGPS SA announced that, partner of the consortium for the exploration of block BM-S-11, it informed about the conclusion of the drilling and of the formation test of the fourth exploratory well in the Iara area, in block BM-S-11, in the pre-salt of Santos basin. Results from the well 3-RJS-706 (3-BRSA-1132-RJS), informally known as Iara West-2, reinforced the potential of light oil recoverable in Iara and confirmed the discovery of good quality oil (28 º API). The carbonate reservoirs revealed porosity and permeability conditions from 5,260 metres deep, which showed better characteristics than those found in the discovery well (1-RJS-656, Iara). The results of the formation test confirmed the productivity of the reservoirs. The well is located 226 km off the coast of Rio de Janeiro, at around 6 km from the Iara discovery well, at a water depth of 2,197 metres. The consortium will carry on the activities set in the Evaluation Plan approved by the National Petroleum, Natural Gas and Biofuels Agency. To date, the well 3-RJS-715D (3-BRSA-1181D-RJS), known as Iara High Angle is being drilled, and it is intended to go through the pre-salt with a high angle, with the goal of evaluating reservoir productivity in the central area of Iara. Galp Energia, through its subsidiary Petrogal Brasil, holds a stake of 10% in the contractor group that explores BM-S-11, while Petroleo Brasileiro Petrobras SA (Petrobras) (operator) holds 65% and BG Group PLC holds the remaining 25%.  Full Article

BG Group PLC Appoints Chief Financial Officer
Monday, 15 Jul 2013 02:00am EDT 

BG Group PLC announced that, with effect from November 2013, Simon Lowth has been appointed as Chief Financial Officer (CFO) and as an Executive Director. The effective date of the appointments remains to be confirmed. Simon will succeed Den Jones who has been Interim CFO and Executive Director since February 2013.  Full Article

BG Group PLC Announces Completion Of Sale Of Gujarat Gas Co. Stake
Wednesday, 12 Jun 2013 07:32am EDT 

BG Group PLC announced that it has completed the sale of the Group's 65.12% holding in India's private natural gas distributor Gujarat Gas Company Limited (GGCL) for INR 24.6 billion or approximately $422 million at current exchange rates. A binding agreement for the sale of the interest, to a subsidiary of Gujarat State Petroleum Corporation (GSPC), was announced in October 2012. The transaction was completed after BG Group and GSPC received the necessary approvals from the Reserve Bank of India and the Competition Commission of India.  Full Article

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Shell-BG deal may be end point rather than harbinger: Russell

KUALA LUMPUR, May 19 - There is a widespread assumption that weak commodity prices are likely to spark a wave of merger and acquisition activity as stronger companies seek to buy assets on the cheap.

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