Woodside completes ExxonMobil’s Scarborough stake purchase

Woodside completes ExxonMobil's Scarborough stake purchase

Australian LNG player Woodside completed the acquisition of ExxonMobil’s interest in the Scarborough gas field.

Woodside has acquired an additional 50 percent interest in WA-1-R, which contains the majority of the Scarborough gas field, and now holds a 75 percent interest.

With its agreement with BHP earlier this month, in which BHP waived its right of pre-emption providing consent to the sale by ExxonMobil to Woodside of its 50 percent interest in WA-1-R, and the Scarborough joint venture, Woodside became the operator of the Scarborough gas field.

Woodside also holds 50 percent interest in WA-61-R, WA-62-R and WA-63-R. These retention leases cover the Scarborough, Thebe and Jupiter gas fields, which are estimated to contain gross (100 percent) contingent resources (2C) of 9.2 Tcf of dry gas. Woodside will operate all of these retention leases.

Following the completion of the acquisition, Woodside added that its contingent resource estimate for Greater Scarborough increased from 485 mmboe to 1,125 mmboe.

The company’s best estimate contingent resources have been boosted by 640 mmboe to 5,652 mmboe.

Share this article

Follow LNG World News

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 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 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >