https://www.miningweekly.com
Gas|Oil And Gas|Oil-and-gas|Petroleum|Storage
Gas|Oil And Gas|Oil-and-gas|Petroleum|Storage
gas|oil-and-gas|oilandgas|petroleum|storage

Woodside and BHP merger gains steam

16th May 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Oil and gas major Woodside has cleared another hurdle in its merger with major BHP’s oil and gas portfolio, with the National Offshore Petroleum Titles Administrator approving the merger under the Offshore Petroleum and Greenhouse Gas Storage Act.

Woodside shareholder approval is now the only outstanding condition precedent to the merger, with the company’s shareholders meeting on May 19 to cast a vote on the transaction.

The two companies in November last year struck an agreement to combine their respective oil and gas portfolios through a stock merger. The expanded Woodside would be owned 52% by existing Woodside shareholders and 48% by existing BHP shareholders.

BHP shareholders are expected to be entitled to one Woodside share for every 5.5340 BHP shares they hold on the record date, and based on Woodside’s share price of $25.55 at April 6, the implied value of BHP Petroleum is $23.4-billion.

Completion of the merger is on track for June 1, and BHP is expected to receive 914.8-million newly issued Woodside shares at completion.

 

Edited by Creamer Media Reporter

Comments

Latest News

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024

Showroom

Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

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







sq:0.168 0.204s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: