https://www.engineeringnews.co.za

Woodside completes Kitimat buy

Woodside completes Kitimat buy

Photo by Bloomberg

10th April 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Australian oil and gas major Woodside has closed the second part of its $2.75-billion transaction with Apache Corporation, announcing on Friday that the Kitimat liquefied natural gas (LNG) component had been closed.

Earlier this month, Woodside closed the Wheatstone and Balnaves project acquisitions for a total consideration of $2.81-billion; included in this was a closing adjustment of $567-million, which represented a reimbursement of Apache’s net expenditure in the projects since July last year.

The Wheatstone and Balnaves projects are located in the Northern Carnarvon basin, offshore Western Australia, while the Kitimat project is located in British Columbia, Canada.

The ASX-listed company said on Friday that the Kitimat transaction had been closed for a purchase price of $854-million, including $354-million in adjustments to reimburse Apache for its expenditure on the project since July.

Woodside now held a 50% interest in the Kitimat LNG project, including some 320 000 net acres in the Horn River and Liard basins, which the company said would add growth options in an emerging LNG province.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 
Craig Miller Technical Services (CMTS)
Craig Miller Technical Services (CMTS)

CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 0.968s - 140pq - 2rq
Subscribe Now