Why bhp sold australia’s loneliest gas to woodside _ afr. com 1 unit electricity cost in tamilnadu

North Rankin used to be called the “loneliest gas in the world”. List of electricity usage by appliances But the 1971 discovery that fathered Australia’s debt in the liquid natural gas game, the North West Shelf, makes the troika of finds commonly wrapped under the Scarborough brand look positively sociable. The North Rankin’s duo of production platforms sit 135 kilometres to the north-west of the gas chillers they feed at Karratha on Western Australia’s north-west coast and they bob around on about 125 metres of surging ocean. And that explains why, some 37 years after the gas mother lode at Scarborough was revealed, it remains isolated, untapped and the focus of yet another round of discussion of what might eventually happen to it. Woodside will become the operator of Thebe and Jupiter and it will deliver BHP with another $US150 million if and when there is final investment decision on development of a Scarborough project. The main Scarborough field, which boasts a proved and probable contingent resource (2C) of 6.9 trillion cubic feet, will continue to be operated by its now senior owner, ExxonMobil.

For the record, the pair that will operate under Woodside’s governance contain a 2C resource of 1.8TCF. Gas 1940 hopper All told then, that lifts the 2C resources covered by this transaction to 8.7TCF, which is more than enough to support a very serious LNG project.

As recently as 2014 the owners of the co-located Scarborough – Thebe and Jupiter gas fields – were out there telling us that the three could become home for the new fangled floating gas processing technologies that look certain to revolutionise the development of the distant and the deep. Australia’s north-western waters will host the world’s first floating liquid natural gas project (FLNG). Pass gas in spanish It is called Prelude. Electricity worksheets grade 6 It is sponsored by Royal Dutch Shell and it will cost better than $US12 billion and the super vessel that supports it all is expected to slip into position sometime next year.

Shell’s big boat, which will be the size of four soccer fields, will then start tapping the Prelude and Concerto fields. Gas and supply okc It is defining of the Scarborough challenge, I think, that that Shell pair hold an estimated 3TCF of gas that sit about 300km off the WA coast and are under 125m of water. Gas and electric phone number Changing oil prices Now, back in 2014 BHP’s petroleum business was being run by Tim Cutt, the oil price was trading in an OPEC-sustained price bubble and both half owners ExxonMobil and BHP had reached full alignment on the potential of FLNG to bring Scarborough gas to market.

Just last year, Exxon and BHP agreed to invest a further $250 million to bring Scarborough to a final investment decision as part of commitments made to the Commonwealth in securing a five-year extension to the lease over the field’s exploration permit. But things have changed a fair bit since Exxon and BHP forged their alignment on the way forward for Scarborough. Electricity and magnetism equations The bifurcation of the oil price that began in late 2014 has endured longer than might have been imagined back then, there is a dominant view that says the regional LNG market might be over-supplied for the next half a decade and, at a personal level, Cutt has left BHP because he couldn’t cop a reorganisation of the Global Australia that saw the call on his finances and strategy relocate to head office in Melbourne. Both those business streams now report into chief financial officer Peter Beaven.

Grade 9 electricity questions And Beaven has made it plain by public narrative and commercial deed that he is going to take quite a different approach to portfolio management than has been the case over the past decade or so. Assets either too far into their productive lives or too far from making a material contribution are going to be sold. To that end, the Scarborough sell down is a classic of the Beaven kind. Grade 9 electricity review Half of a long-dated option has been monetised while BHP will retain leverage to any upside that might be generated by the delivery of the asset to an investor with arguably more motivation to make more of it more quickly.

So far this new pragmatism has triggered a flurry of comparatively little deals including the sale of coal projects in Kalimantan and New Mexico, of oil projects in Liberia and Pakistan and the return of the Caroona coal lease to the NSW government. Gas hydrates wiki The next cab off the rank might well be the sale of BHP’s legacy of Bass Strait oil which is currently being marketed in concert with partner Exxon. The reasons that Scarborough gas has stayed where it was found is that neither BHP nor Exxon have the infrastructure that makes its development sensible.

Gas tax in texas But Woodside has the machinery for LNG and, arguably, is just that little bit short of gas in the right places to fill it. Woodside is the operator of the North West Shelf project and it will need new sources of gas from the mid-point of the next decade. Gas in back shoulder Woodside is also the operator and 90 per cent owner of the Pluto LNG plant and its need for new gas might arrive even earlier. Both the NSW and Pluto are supplied by gas fields that sit, neatly enough, at the half way point of the journey from the coast to Scarborough and its fellow travellers. Electricity load shedding And, for good measure, the Pluto production system was built to take twice the gas that it currently sends to fill the single train that is the Pluto LNG processor.

A shell gas station near me The Pluto production system was built to sustain two trains. 76 gas station locations But Woodside was never able to find the gas to fill the system.

Electricity usage in the us Woodside options Woodside boss Peter Coleman admits to agnosticism about the pathway to development of Scarborough. This is sensible, not least because the fate of this project will be shaped by Exxon, the 50 per cent owner of the biggest chunk of it, the Scarborough field. And, as we have already mentioned, Exxon has spent the past three years working up to a FLNG blueprint.

First, Woodside about $US3 in exploration costs for every barrel of oil equivalent it adds to its reserves and resources. C gastronomie This deal adds certain gas with good prospects of development at some point in the next decade or so at a cost of US90 cents BOE. Npower electricity bill In other words, it has proven cheaper to buy into Scarborough than it would be to find an equivalent amount of gas. On Monday, Coleman expressed confidence that Scarborough’s gas molecules will find their way to the most value accretive development. Grade 9 electricity test questions Rarely has that promise been as likely to be fulfilled. Rahal e gas card These are deeply rational days in big oil and gas generally and in big LNG particularly.

Just generally, this is a deal that, to some degree, completes the Woodside portfolio that Coleman set out to create two years ago. Electricity invented timeline “For the first time since I have been here Woodside is starting to develop the breadth and granularity in the portfolio that give us the options to move forward the way we want to,” Coleman told me on Monday. Coleman is working to three timeframes: zero to five years, six to 10 years and 11 years plus.

The $US2.8 billion deal that introduced Wheatstone to slate will make a difference from next year. Electricity grid australia The $US1.6 billion Greater Einfeld oil project will add momentum from 2020 and then the energy will come from the punt on oil in Senegal. Scarborough already sits in that second box of time and the early view is that it currently sits ahead of thrice postponed big fella to the north, the Browse project.

Woodside is not alone in pursuing long-dated counter-cyclical asset accumulation. Grade 9 electricity unit test answers BHP, too, is working away at extending its oil horizons within the atlas of low-risk environments defined by its investment strategy. Two weeks ago BHP picked up 12 of 24 blocks offered in a US Gulf of Mexico auction.

Gas bubble in back Now we learn that BHP is one of 26 bidders qualified to participate in Mexico’s auction of deep and ultra water exploration permits that have, until now, been retained for the national interest. Mexico announced itself open for super-major business last year with auction of shallow water permits. Electricity generation in usa Just about everyone let that cup pass. Gas efficient cars under 5000 This time around will be different.

Gas monkey monster truck The super-majors are queuing up for a crack at Mexico’s December bid-off, which is made up of 10 blocks that are estimated to contained up to 10.5 billion of oil equivalent. Site: http://www.afr.com/business/energy/gas/why-bhp-sold-australias-loneliest-gas-to-woodside-20160905-gr91ak