Wood­side takes over BHP gas as­sets

Pilbara News - - News - Stu­art McKin­non

Wood­side says it has com­pleted the ac­qui­si­tion of 50 per cent of BHP Bil­li­ton’s in­ter­ests in the Scar­bor­ough gas­field off the North West coast.

The oil and gas pro­ducer said the ac­qui­si­tion had been com­pleted for $US250 mil­lion and a con­tin­gent pay­ment of $US150 mil­lion payable on a pos­i­tive fi­nal in­vest­ment de­ci­sion to de­velop the Scar­bor­ough field.

The ef­fec­tive date of the trans­ac­tion is July 1.

Un­der the terms of the sale and pur­chase agree­ments, Wood­side has ac­quired a 25 per cent in­ter­est in WA-1-R and a 50 per cent 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.

ExxonMo­bil op­er­ates WA-1-R.

The Scar­bor­ough area as­sets in­clude the Scar­bor­ough, Thebe and Jupiter gas­fields, which are es­ti­mated to con­tain gross 8.7 tril­lion cu­bic feet of dry gas re­sources at the 2C con­fi­dence level.

At the com­ple­tion of the ac­qui­si­tion, Wood­side’s best es­ti­mate con­tin­gent re­sources (2C) will in­crease by 462 mil­lion bar­rels of oil equiv­a­lent.

Pic­ture: Mo­gens Jo­hansen

Wood­side has taken over half of BHP’s as­sets at the Scar­bor­ough gas­field.

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