Woodside acquires half of BHP Billiton’s Scarborough area assets
Published by Callum O'Reilly,
Senior Editor
LNG Industry,
Woodside has announced that it has acquired half of BHP Billiton’s Scarborough area assets in the Carnarvon Basin, located offshore Western Australia, for a purchase price of US$250 million and a contingent payment of US$150 million payable upon a positive final investment decision (FID) to develop the Scarborough field.
The effective date of the transaction is 1 July 2016.
Under the terms of the Sale and Purchase Agreements (SPAs), Woodside has acquired a 25% interest in WA-1-R and a 50% interest in WA-61-R, WA-62-R and WA-63-R. Woodside will operate WA-61-R, WA-62-R and WA-63-R, while ExxonMobil is the operator of WA-1-R.
The Scarborough area assets include the Scarborough, Thebe and Jupiter gas fields, which are estimated to contain 8.7 trillion ft3 of dry gas resources at the 2C confidence level.
As a result of the completion of the acquisition, Woodside’s Best Estimate Contingent Resources (2C) increase by 462 million boe.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/15112016/woodside-acquires-half-of-bhp-billitons-scarborough-area-assets/
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