Woodside acquires half of BHP Billiton’s Scarborough area assets

The effective date of the transaction is 1 July 2016.

Under the terms of the Sale and Purchase Agreements (SPAs), Woodside has acquired a 25% interest in WA-1-R and a 50% interest in WA-61-R, WA-62-R and WA-63-R. Woodside will operate WA-61-R, WA-62-R and WA-63-R, while ExxonMobil is the operator of WA-1-R.

The Scarborough area assets include the Scarborough, Thebe and Jupiter gas fields, which are estimated to contain 8.7 trillion ft³ of dry gas resources at the 2C confidence level.

As a result of the completion of the acquisition, Woodside’s Best Estimate Contingent Resources (2C) increase by 462 million boe.