BG. Gas prices over 14% up recently with more to come - global LNG expanding and further exploration rights --- about to break out.

http://www.moneyam.com/action/news/showArticle?id=989336

dikytree.

.

1180 visited for the 2nd time in 4 weeks.

Good support at 1200p though and possible increase up to the divi date? Will await broker notes.

The only one I've seen (so far) is Oriel - reiterating their BUY.

Nice pre-divi surge. Almost tempted to take profit and get back in after ex-divi tomorrow.

Nice recovery and the dividend is almost covered today (11.88p) - well held Harry - I'm not in atm.

Not that interesting as for every seller there should be a buyer but "41m shares in Bg. currently on offer at £12.25".

Management update - Fabio Barbosa granted leave of absence

BG Group today announced that Chief Financial Officer (CFO), Fabio Barbosa has been granted leave of absence in order to undergo medical treatment in Brazil for a recently diagnosed condition.

The power of the 8% price hike.

StockMarketWire.com
BG Group unveils strong third quarter results with earning sup 16% at $1,189m and total operating profits 17% up at $2,273m.

Chief executive Sir Frank Chapman said the group achieved good cost and schedule performance on key projects in Australia and Brazil and reached further asset sales agreements placing us well ahead of our capital release plan.

He said the rise in earnings was driven by a 13% increase in E&P operating profit to $1.3bn and a continued robust performance of the LNG business, where operating profit was up 24% to $767m.

He continued: "Production rose by some 5% as new projects ramped up, but was held back by the previously announced shutdown of the non-operated Elgin/Franklin field and our earlier decision to scale back drilling in the USA due to low natural gas prices.

"As a result of these factors, along with the deferral of the Jasmine start-up to 2013, production growth in 2012 of some 3% is now forecast.

"Alongside these factors, which will continue to affect production in 2013, we have adjusted our 2013 plans to accommodate an extended sub-sea tie-in schedule for Brazil's Sapinhoá and Lula NE wells.

"We have also reflected lower production in Egypt where the Phase 7 compression project has been less effective than expected in arresting reservoir decline. In aggregate, these factors are expected to result in 2013 volumes being broadly in line with 2012.

"Looking ahead, our growth projects continue with the planned installation in Brazil of the two new FPSOs in 2013. This will be followed in 2014 by the installation of two further FPSOs in Brazil and the start-up of QCLNG in Australia.

"We also progressed the six further FPSOs planned to come onstream in Brazil in 2015 and 2016. The BM-S-9 partners intend to tender for a further FPSO for Carioca, which will bring to 15 the total number of FPSOs to be deployed on the 'big-five' Santos Basin discoveries."

BG Group signs Heads of Agreement for sale of QCLNG stake and new LNG supply

BG Group today announces that it has signed a Heads of Agreement (HOA) with China National Offshore Oil Corporation (CNOOC) for the sale of certain interests in the Queensland Curtis LNG (QCLNG) project in Australia for $1.93 billion and the sale of liquefied natural gas (LNG) from
BG Group's global LNG portfolio. Fully-termed transaction agreements are expected to be executed in the first half of 2013, and upon closing, CNOOC will reimburse BG Group for its share of QCLNG project capital expenditures incurred from 1 January 2012.

Just bought a few @1157.

Market overview: BG plummets after asset sales forced on them
Date: Wednesday 31 Oct 2012


0942: This is what analysts at Seymour Pierce have to say on the subject of BG: "The company currently has an asset divestment programme that remains ongoing to reduce their net debt exposure; this would suggest that the disposal of their Australian LNG interest was forced upon them rather than a strategic decision." FTSE 100 up 1 to 5,850.

Adjusted for exceptional costs or benefits not derived from regular operations, London-listed BG's profit for the quarter was $1.19 billion, versus $1.02 billion in the same period a year earlier. This was well below average expectations of $2.06 billion in a Dow Jones Newswires poll of nine analysts.

Total oil and gas production was 646,000 barrels of oil equivalent a day, a 4.6% rise from the same period a year ago. Analysts were expecting production of 664,000 barrels of oil equivalent a day.

I've added @1058 - mad?

Certifiable! ;o)

Think I will wait for the sp to settle.

I'm out half @1134.5

StockMarketWire.com
Societe Generale has downgraded its recommendation on natural gas company BG Group (LON:BG.) to "hold" from "buy" in reaction to yesterday's production downgrade. The City broker has reduced its share price target by over 20 per cent to 1,300 pence from 1,650 pence as it changes its basis of valuation. Analyst Irene Himona said: "Panic was caused by BG releasing its third quarter results a day ahead of schedule and issuing at the same time a production downgrade for 2012-13. The oil industry is full of cases of production downgrades and missed growth targets; it is regrettable that the one stock perceived, priced and marketing itself as 'the growth stock' in the sector joins that sad precedent. BG remains a large, low cost resource holder and successful explorer, which has fallen down on execution, as is often the case. Pricing the stock as a differentiated investment case is hard to defend near term. On a 12 month view we downgrade from buy to hold."

Sale of Comgás stake completed

BG Group today completed the previously announced transaction to sell the Group's entire 60.1% holding in Comgás for a consideration of Brazilian reais 3.4 billion, or approximately $1.7 billion, to Cosan S.A. Indústria e Comércio (Cosan). In addition, debt on the BG Group balance sheet has been reduced by some $1 billion.