Fri, Jun. 6, 10:59 AM
- BG Group (BRGYY, BRGXF) and partner Ophir Energy (OPGYF) announce a new gas discovery off the coast of Tanzania with its Taachui-1 probe in Block 1.
- The well was drilled to 13,808 ft. and encountered gas in a single gross column of 948 ft. within the targeted reservoir interval; net pay totaled 508 ft.
- BG, along with Statoil and Exxon, plan to build the first liquefied natural gas plant in the country to export natural gas to Asian markets in a project expected to cost $20B-$30B.
Dec. 6, 2013, 3:08 AM
- Statoil (STO) and its JV partner ExxonMobil (XOM) make another big gas discovery off Tanzania - their fifth in the region - confirming Tanzania's emergence as a new energy region. The find, called Mronge-1, can be seen here.
- Today's find contains 2-3 trillion cubic feet (tcf) of gas, or 360-540 million barrels of oil equivalent (boe), bringing the total gas resources in the license the firms hold to 17-20 tcf or 3.06-3.6 billion boe.
- BG (BRGYY, BRGXF) and Ophir Energy (OPGYF) have also found gas off Tanzania. BG and Statoil are planning to build an LNG plant in Tanzania to ship the gas to Asia.
- STO operates the area on behalf of Tanzania Petroleum Development Corporation and owns a 65% stake; XOM owns the other 35%.
Nov. 14, 2013, 9:58 AM
- Ophir Energy (OPGYF) sells a 20% share of a giant natural gas discovery off the coast of Tanzania to Singapore's state-owned Pavilion Energy for $1.3B, the latest in a string of acquisitions by energy-hungry Asian nations in East Africa.
- The deal will help Singapore in its goal to diversify its energy supplies and become a hub for liquefied natural gas; it is dependent on gas supply for ~85% of its electricity generation.
- Ophir and partner BG Group (BRGYY, BRGXF) plan to build an LNG plant on the Tanzanian coast to ship the fuel to Asia.
Oct. 25, 2013, 5:23 PM
- Natural gas exploration hotspot Tanzania is inviting bids for eight newly offered gas blocks, and plans to take stakes of 65%-75% in each of the new production-sharing contracts, the country's president says.
- The government is offering seven deep-sea offshore blocks and one block in Lake Tanganyika.
- BG Group (BRGYY, BRGXF) and Ophir Energy (OPGYF) have been at the forefront of exploration in Tanzania, while Exxon (XOM) and Statoil (STO) also have found gas there; BG and Statoil are planning to build a $10B liquefied natural gas terminal.
OPGYF vs. ETF Alternatives
Currently, there's no company description for OPGYF.
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