BG Group plc (LSE: BG.L) is a world leader in natural gas, with a broad portfolio of business interests focused on exploration and production and liquefied natural gas. Active in more than 20 countries on five continents, BG Group combines a deep understanding of gas markets with a proven track... More
Tuesday, Feb 48:15 AM
Tuesday, Feb 48:15 AM| Comment!
- BG Group (BRGYY, BRGXF) reports a Q4 loss of $1.08B as it wrote down assets in Egypt and its shale gas business in the U.S.
- Despite the loss, BG says it still expects to meet its 2015 target to be cash flow positive, with first liquefied natural gas exports from its QCLNG project in Australia expected later this year, production in Brazil ramping up and capital spending set to decline.
- Q$ revenues rose 15% to $5.45B from $4.74B in the year-ago quarter because of a greater proportion of oil in the portfolio and increased sales of liquefied natural gas to Asian markets.
- BG expects 2013 production will end at 590K-630K boe/day, down from 633K boe/day last year; output next year is forecast at 710K-750K boe/day.
Monday, Jan 277:50 AM
Monday, Jan 277:50 AM| 1 Comment
- BG Group (BRGYY, BRGXF) issues downside guidance for its 2014 oil and gas production and says it wrote down the value of its assets in the U.S. and Egypt by $2.4B.
- BG also declares force majeure on contracts in Egypt, because the country’s government had not honored BG’s share of gas from fields.
- Foresees this year's output at 590K-630K boe/day vs. 633K last year before recovering to 710K-750K bbl/day next year.
- Says preliminary results indicate 2013 earnings fell 33% Y/Y to $0.65/share, or $2.2B.
- Shares -15% in London trading.