Royal Dutch Shell plc (RDS.A) Stock

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2:40 PM Cove Energy (CNVGF.PK) shares end +11.2% in London to 249p, above the new 240p/share bid from Thailand's PTT and indicating investors think Royal Dutch Shell (RDS.A -2%) may raise the offer. Heard On The Street's Andrew Peaple calculates Shell could yet pay up to $2.5B for Cove; it also has more firepower than PTT, with net debt to equity of 9.9% vs. PTT's 33%.
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[Energy, M&A, Global & FX, On the Move]
3:29 AM Thailand's PTT Exploration and Production trumps Shell's (RDS.A) bid for Cove Energy (CNVGF.PK), offering £1.22B ($1.9B) for the Mozambique-focused explorer. Cove's management says it now backs PTT's bid, with the reversal coming just hours ahead of a deadline for investors to accept Shell's $1.8B offer. Shell -1.2% in London.
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[M&A, Energy, Top Stories]
Tuesday 10:40 AM Nigeria's oil minister says it expects to renew onshore oil drilling licenses with Chevron (CVX) and Royal Dutch Shell (RDS.A, RDS.B) by June. Several licenses that expired as far back as 2008 have been in negotiations between foreign oil majors, Nigeria's state-oil firm and government for years.
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[Energy, Global & FX]
Tuesday 9:59 AM “LNG holds great potential as a transport fuel,” Shell (RDS.A) believes, and its plan to spend $250M on a liquefied natural gas plant and a string of filling stations in Canada is the biggest single investment yet in making it happen. For now, LNG is mostly suitable for long-haul trucks with large gas tanks, but that's a big business; U.S. truckers spent ~$135B on fuel last year.
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[Energy]
Tuesday 8:57 AM Royal Dutch Shell (RDS.A) believes rising natural gas demand will underpin its future profits, even though oil pricing still accounts for 80% of its margins, CEO Peter Voser says. The long-term nat gas pricing outlook remains strong despite current low prices, Voser says, as Asian-Pacific customers increasingly switch from powering their industrial plants with oil to gas.
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[Energy]
Monday 12:29 PM With just days remaining before a deal deadline, Cove Energy (CNVGF.PK) says it continues to believe the $1.8B offer from Royal Dutch Shell (RDS.A, RDS.B) is in the best interests of shareholders. Cove's earlier announcement that it found even more gas on its license in Mozambique has not sparked a bid battle for the company.
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[Energy, M&A]
Monday 9:10 AM Penn Virginia Resources (PVR) announces $380M of Marcellus Shale pipeline project investments anchored by long-term agreements with Marcellus natural gas producers including RDS.A, SWN and RRC. PVR will extend its natural gas pipeline in Lycoming County, Pa., and provide gathering, compression and related services to Marcellus producers.
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[Energy]