Shell Acquisition of Arrow Gives New Hope A$326 Million Profit

The takeover of gas producer Arrow Energy Ltd. by Royal Dutch Shell Plc and PetroChina Co. will generate a A$326 million ($308 million) profit for shareholder New Hope Corp., giving the coal miner more cash for acquisitions.

“New Hope recognized the likelihood of coal-seam gas having a greater role in the energy equation in eastern Australia and that turned out to be correct,” Robert Neale, managing director of the Ipswich, Queensland-based company, said in an interview. “The earlier in, the better the profit.”