Gina Rinehart’s Hancock Prospecting has launched what is effectively the seventh takeover bid for Warrego Energy in the space of two months, jacking up its offer price by 29 per cent.
Shares in Warrego Energy jumped late today on heavy trading with Chris Ellison’s Mineral Resources believed to have joined the takeover battle for the Perth Basin gas play.
Senex Energy’s $1 billion Atlas gas development has moved to the next stage of approvals as the company reconsiders expansion plans following major government intervention in gas markets.
Gina Rinehart’s Hancock Prospecting has lifted its stake in Perth Basin gas play Warrego Energy to 25.9 per cent as a stand-off looms with rival bidder Strike Energy.
Buru Energy executive chairman Eric Streitberg has started a non-executive role in the oil and gas company, with recently appointed chief executive Thomas Nador taking over some of his duties.
UPDATED: France’s Altrad Services has become one of the largest maintenance and construction contractors in WA after buying Perth-based AGC from its debt-laden parent AusGroup.
The board of ASX-listed oil and gas company Norwest Energy will wait until the new year to cast its verdict on Chris Ellison’s offer for the business amid fierce competition for Perth Basin assets.
Rapid approvals proposed for green energy projects should also be available to gas producers, the industry has said, as a major shortage of the fuel is forecast for WA.
Plans to invest in LNG import terminals and boost exploration on the east coast could be jeopardised by a shock intervention in gas markets, Woodside Energy has warned.
A plan promising a cap on gas and coal prices, potential subsidies for miners, and $1.5 billion for households, has been labelled a “radical intervention” by industry.
The board is set for Gina Rinehart’s Hancock Energy to take control of Perth Basin desirable Warrego Energy after Kerry Stokes-backed Beach Energy declined to match a $342 million cash offer.
Strike Energy has muscled back in amid the fight for ownership of its joint venture partner Warrego, lifting its stake in the target to 19.9 per cent to become its biggest shareholder.
Warrego Energy shares are continuing skyward as investors wait to see whether Stokes-backed Beach Energy will match rival bidder Gina Rinehart’s $350 million cash offer for the Perth Basin developer.
Santos is holding firm on delivering first gas from Barossa in 2025 despite losing its fight to keep a key approval for the $US4.7 billion operation in a ruling that could have major ramifications for new projects.
Gina Rinehart's Hancock Prospecting could help solve a looming WA gas shortage, pledging to boost Perth Basin investment as it becomes the third company chasing Warrego Energy.
