Photo by: Bloomberg
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.