Tag: Royal Dutch Shell
Shell’s Arrow Bid May Spur Australian Coal-Bed Gas Takeovers
Mar/09/2010 | Under : Crude Oil, Energy, Oil and Gas Drilling, Petroleum
Royal Dutch Shell Plc and PetroChina Co.’s A$3.3 billion ($3 billion) bid for Arrow Energy Ltd. may spur more takeovers of Australian producers of coal-bed gas, a growing source of supply for Asian energy importers.
Eastern Star Gas Ltd., a coal-seam gas developer in the Australian state of New South Wales, climbed almost 13 percent to 81 cents in Sydney yesterday after Arrow reported the bid. (continue reading…)