Jake
re:why would you sell off a 15% of Crux?
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B'coz that saves them from forking out Capital outlay for the 5 wells planned, Platform & the 165kms of Pipeline and then wait for first cashflow in 5-6 yrs time, hence the hiring of the MorganStanley. Shell abandoned the old Crux wells & drilled Auriga. Seven paid off Sedco's claim. Shell can backfill this 2,5 Tcf Crux Gas & 88 mmbbls condensate to Prelude FLNG. Not sure if they'll charge gas tolling & condensate stripping rates.
I hope Shell pre-empts & adds the 15% to their 82%. I don't expect Osaka to add to their 3% share in Crux. Dont know about LT, priority at Orbost should b to process Sole gas. Almost 90% complete.
Gas guru stays ahead of the game, page-18
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