Woodside Completes Scarborough Acquisition
Thursday 29 March 2018
Woodside advises that the acquisition of ExxonMobil’s interest in the Scarborough gas field has been completed. The effective date of the transaction is 1 January 2018.
Woodside has acquired an additional 50% interest in WA-1-R (which contains the majority of the Scarborough gas field), and now holds a 75% interest in WA-1-R and a 50% 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%) contingent resources (2C) of 9.2 Tcf of dry gas. Woodside will operate all of these retention leases.
Woodside’s Best Estimate Contingent Resources (2C) have increased by 640 MMboe to 5,652 MMboe.