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Mon, Mar. 3, 12:17 PM
- Statoil (STO +2.4%), the largest non-Russian supplier of gas to Europe, is a rare bright spot in today's stock market, surging to its highest level in more than five years on hopes it could increase its market share if Russia cuts back gas supplies.
- STO sells an increasing share of its gas at spot market prices, in contrast to Gazprom, which sells much of its gas on long-term contracts and at prices linked to oil.
- STO says it doesn't have any current plans to increase output but is monitoring the situation.
- BG Group (BRGYY, BRGXF) also is considered a potential beneficiary; while it sells much of its liquefied natural gas to markets in Asia, analysts say it could divert additional volumes to Europe if gas prices rose sufficiently.
Mon, Jan. 27, 7:50 AM
- 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.
Oct. 17, 2013, 7:50 AM
- Exco Resources (XCO) and BG Group (BRGYY.PK, BRGXF.PK) agree to sell their interests in U.S. gas production joint venture TGGT to Azure Midstream Holdings in a $910M deal.
- XCO expects to receive net cash proceeds of ~$230M after TGGT pays off its credit agreement; the cash proceeds will be used to reduce the asset sale tranche under XCO's credit agreement.
- TGGT owns and operates natural gas gathering and treating assets in shale gas formations across east Texas and north Louisiana.
- XCO +3.4% premarket.
Oct. 1, 2013, 5:45 PM
- Energy Transfer Equity (ETE), Energy Transfer Partners (ETP) and BG Group (BRGYY.PK, BRGXF.PK) announce an agreement to jointly develop the liquefied natural gas export project at the existing Trunkline import terminal in Lake Charles, La.
- The proposed project will include the construction of three liquefaction trains and will use the existing LNG storage and marine berthing facilities.
- The announcement follows the U.S. government conditionally granting authorization to export from the existing Trunkline import terminal up to 15M metric tons/year.
- A final investment decision to proceed with the project is expected in 2015, with first LNG exports anticipated in 2019.
- ETP +2.2% AH.
Sep. 10, 2013, 9:59 AM
- Exco Resources (XCO -1.5%) says BG Group (BRGYY.PK, BRGXF.PK) has elected not to acquire 50% of the recently acquired producing and undeveloped oil and gas assets in the Haynesville shale formation.
- XCO raises FY 2013 adjusted EBITDA guidance to ~$450M from $435M, the third time it has lifted expectations this year.
- The credit agreement which included a $400M asset sale requirement is amended to $269M.
Sep. 9, 2013, 4:54 AM
- European stocks are mixed and seem to be failing to gain any significant lift from China's better-than-expected trade data.
- "European shares remain under some pressure due to the ongoing uncertainties of the situation in Syria and the increasing likelihood of U.S. QE tapering," says Richard Hunter, head of equities at London-based Hargreaves Lansdown.
- BG Group (BRGXF.PK) is -4.6% after the oil and gas producer said next year's output will be lower than initially expected, partly due to the turmoil in Egypt.
- EU Stoxx 50 -0.1%, London flat, Paris -0.4%, Frankfurt +0.1%, Milan +0.2%, Madrid -0.5%.
BRGXF vs. ETF Alternatives
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
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