Australia's Woodside Says Has Green Light To Up Gas Field Stake

Energy firm Woodside Petroleum said that its plan to buy ExxonMobil Corp’s 50-percent interest in Australia’s Scarborough gas field had been given the go-ahead by BHP Billiton, which partly owns the development. Australia’s Woodside last month said it had agreed to pay $744 million for ExxonMobil’s stake in the project that has been stuck on the drawing board for nearly 40 years, taking its hold to 75 percent. The deal on the remote, deepwater gas field off the coast of the state of Western Australia is expected to conclude by the end of this quarter.

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Is this still happening?  Just wondering if BHP is being sold or not.

 

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3 hours ago, Xan said:

Is this still happening?  Just wondering if BHP is being sold or not.

 

BHP Billiton was never being sold. BHP and Exxon own the development, and Woodside was going to buy Exxon's share, which BHP agreed to. As far as I know, nothing new has happened with this.

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