AGL Energy Limited engages in the ownership, operation, and development of renewable generation assets in Australia. The company also operates retail and merchant energy businesses. It has a power generation portfolio, which includes base, peaking, and intermediate generation plants. Segments The company operates in four business segments: Retail Energy; Merchant Energy; Upstream Gas; and Energy Investments. Retail Energy The Retail Energy Segment engages in the buying and selling of natural gas, electricity, and energy-related products and services to 3.2 million customer accounts across New South Wales, Victoria, South Australia, and Queensland. Merchant Energy The Merchant Energy Segment engages in the buying and selling of gas and electricity; operating and maintaining of power generation infrastructure; and extraction and sale of liquid petroleum gas. Upstream Gas The Upstream Gas Segment engages in the exploration, extraction, production, and sale of conventional and coal seam methane gas; and exploration and development of other renewable energy sources, including geothermal. Energy Investments The Energy Investments Segment invests in energy entities. Acquisitions In July 2008, the company acquired 100% of the issued capital of Allco Wind Energy Investments Pty Limited (AGL Power Generation (Wind) Pty Limited) and its subsidiaries. The assets of the acquired entities comprised six wind farm development projects in Queensland, New South Wales, and South Australia. In November 2008, the company acquired 50% of Tri-Star Petroleum Company’s (Tri-Star) joint venture working interests and related assets in the Spring Gully Project in Queensland. In December 2008, the company acquired 100% of the issued capital of Coopers Gap Wind Farm Pty Ltd and Oaklands Hill Wind Farm Pty Ltd. The assets of the acquired entities comprised two wind farm development projects in Queensland and Victoria. In December 2008, the company also acquired 100% of the issued capital of Lucas Energy Pty Limited (AGL Gloucester LE Pty Ltd) and 100% of the issued capital of Molopo (Gloucester) NL (AGL Gloucester MG Pty Ltd). The acquired entities hold 100% of the interests in petroleum exploration license PEL 285, the Gloucester Basin Gas Project in New South Wales. In December 2008, the company also acquired 100% of the issued capital of Geogen Pty Limited and Geogen Victoria Pty Ltd. The acquired entities’ activities are the exploration for and evaluation of geothermal resources in Victoria, New South Wales, and Queensland. In March 2009, the company acquired 100% of the issued capital of Sydney Gas Limited (AGL (SG) Pty Limited), a gas exploration company, which develops coal seam gas resources in New South Wales. It holds in joint venture with the consolidated entity four petroleum exploration licenses (PELs 2, 4, 5, and 267) and five petroleum production leases (PPLs 1, 2, 4, 5, and 6). The joint venture comprises three projects: the Camden Project, the Hunter Project, and the Sydney Project. In February 2009, the company acquired a 35% interest in petroleum exploration license PEL 101 and a 37.5% interest in PEL 103 in the Cooper Basin in South Australia. Dispositions In December 2008, the company disposed of Papua New Guinea (PNG) oil and gas interests.
agl energy ltd
(AGK:Australian Stock Exchange Ltd)
101 Miller Street
North Sydney, NSW 2060
Phone: 61 2 9921 2999
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To contact AGL ENERGY LTD, please visit www.agl.com.au. Company data is provided by Capital IQ. Please use this form to report any data issues.