Australia’s Woodside raises A$1.6 billion for LNG expansion

Pluto LNG facility (Image courtesy of Woodside)

Australian LNG operator Woodside has completed the first stage of a A$2.5 billion equity raising revealed last week to boost its ownership of the Scarborough gas field offshore Western Australia.

The institutional entitlement offer closed on Thursday, February 15, raised gross proceeds of about A$1.57 billion ($1.24 billion) at A$27.00 per new share.

The offer received strong support from existing institutional shareholders, with over 90% of eligible institutional shareholders electing to take up their entitlements, Woodside said in its statement.

The retail portion of the one-for-nine rights offer will open on February 21 and close on March 7, the company said.

Woodside has agreed to pay $744 million for ExxonMobil’s 50-percent stake in the Scarborough field.

The Australian LNG company currently holds a 25 percent stake in Scarborough.

The company plans to process Scarborough resources at its Burrup LNG hub, where the Pluto facility is located.


LNG World News Staff

Share this article

Follow LNG World News

Posted on February 19, 2018 with tags .


<< Apr 2020 >>
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >