Saturday, December 3, 2016

Woodside completes acquisition of half BHP Billiton’s Scarborough space assets

Tuesday, Nov 15, 2016
In Sep 2016, Woodside entered into binding Sale and buy Agreements to amass half BHP Billiton’s Scarborough space assets within the Carnarvon Basin, settled offshore Western Australia.

The acquisition has completed with success for a buying deal value of US$250 million and a contingent payment of US$150 million collectible upon a positive final investment call to develop the Scarborough field. The effective date of the group action is one Gregorian calendar month 2016.

Under the terms of the Sale and buy Agreements, Woodside has nonheritable a twenty fifth interest in WA-1-R and a five hundredth interest in WA-61-R, WA-62-R and WA-63-R. Woodside can operate WA-61-R, WA-62-R and WA-63-R. ExxonMobil is that the operator of WA-1-R.

The Scarborough space assets embody the Scarborough, Botswana monetary unit and Jupiter gas fields, that square measure calculable to contain gross eight.7 Tcf of dry gas resources at the 2C confidence level.

As a results of the completion of the acquisition, Woodside’s Best Estimate Contingent Resources (2C) increase by 462 MMboe.

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