The BG Group have announced their second quarter results with earnings up 27% and cash generation up 11%. The company also said it had paid an increased interim dividend of 10.8 cents per share, up 10%.
BG Group, which was formed from the break up of British Gas in 1997, specialises in oil and gas exploration across the world. Apart from the pure financials they also reported reserves and resources in Brazil doubled during 2010 and their fields now have the potential of 8 billion boe (barrels of oil equivalent).
Commenting on the results which were announced to the stock exchange this morning, Sir Frank Chapman, Chief Executive of BG Group said: “We made good progress in our E&P and LNG buisinesses. We have invested $4.4bn in organic growth in the first half and made good progress across our major growth projects in Australia, Brazil and the USA.”