MMA Offshore chairman Andrew Edwards has defended the timing of the company’s recent $97 million capital raising at its annual meeting today, saying the oil and gas firm needed a solution to its debt problems.
MMA Offshore major shareholder Halom Investments has withdrawn its annual meeting resolution to remove the oil and gas company’s managing director Jeff Weber one day before the meeting.
Woodside Petroleum expects to cut costs and its environmental footprint after contracting ABB Group to replace one of the gas turbine generators at its Goodwyn A platform in the North-West Shelf with a battery storage micro-grid.
The Takeovers Panel has rejected an application by Tap Oil claiming its two biggest shareholders had become associated, with the panel refusing to make a declaration of unacceptable circumstances.
Energy company Santos and French multinational Total have agreed to fund a 3D seismic survey, thought to be worth around $45 million, over Melbana Energy's Beehive prospect off the north coast of Western Australia.
Mineral Resources has launched a $484 million takeover bid for oil and gas group AWE amid the ongoing battle for control of the Waitsia gas field north of Perth.
A Chinese state-owned energy company has stepped up its efforts to gain control of the Waitsia gas field north of Perth, launching a hostile bid today for oil and gas group AWE after withdrawing its proposal for a friendly takeover earlier this week.
AWE shares have tumbled after the Chinese state-owned energy corporation interested in buying the Australian oil and gas group withdrew its $430 million proposal, after it was unable to conduct a final due diligence review on the target.
The Australian Petroleum Production and Exploration Association has announced Zoe Yujnovich as the new chair while Michael Abbott has been elected vice chair following the association’s annual meeting.
The state government has moved to terminate a state agreement with Mitsubishi Corporation and Buru Energy that was enacted in 2013 when there were high hopes that fracking in the Kimberley’s Canning Basin would lead to development of major onshore gas projects.
MMA Offshore has postponed its annual meeting after a complaint from major shareholder Halom Investments to the Takeovers Panel regarding a $97 million capital raising.
Tap Oil has submitted an application to the Takeovers Panel requesting the disclosure of details surrounding major shareholders Risco Energy Investments and Chatchai Yenbamroong, and for the pair to be restrained from voting at the company’s annual meeting.
Sydney-based gas company AWE has produced more positive test results at its Waitsia gas field, with the highest flow rate to date recorded during recent flow testing.
Engineering and construction contractor Monadelphous Group has painted a positive outlook after tough trading conditions in recent years, with the company tipping strong revenue growth in the current financial year.
Tap Oil major shareholder Risco Energy Investments has notified the company of its intention to overhaul the company's board at the next planned annual meeting in February.
Struggling marine services company MMA Offshore will raise nearly $100 million to repay debts and repair its balance sheet, despite opposition from major shareholder Halom Investments.
Royal Dutch Shell has sold its entire shareholding in Woodside Petroleum for $3.5 billion, after strong demand from institutional investors prompted the energy giant to upsize its previously announced sell-down.
