Shell receives final approval from BG shareholders

Offshore staff

THE HAGUE, the Netherlands – BG Group shareholders have voted in favor of Shell’s acquisition plan in an overwhelming majority of 99.53% for and .47% against the merger.

Shell said that the transaction is expected to be completed on Feb. 15, subject to the satisfaction or waiver of certain customary conditions, including the sanction of the scheme of arrangement to implement the combination by the High Court of Justice.

According to Wood Mackenzie, Shell has now joined ExxonMobil as a so-called “ultramajor,” with Exxon leading unconventionals, and Shell leading deepwater and LNG.

The analyst firm said in a recent analysis of the merger that the addition of BG’s high-quality Brazilian presalt volumes will establish Shell as the leading deepwater player, adding more than 500,000 boe/d of production at peak and lowering the corporate cost curve, albeit the outlook is vulnerable to proposed fiscal changes and project delays.


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