Shell further reduces its interest in Woodside (Scandinavian Oil-Gas Magazine)

Shell further reduces its interest in Woodside

Published Jun 18, 2014

Royal Dutch Shell plc (Shell) announced the sale of a total of approximately 156.5 million shares in Woodside Petroleum Limited (Woodside) representing a total estimated value to Shell of around US$5.0 billion on an after tax basis.

The sale, which represents 19.0% of Woodside’s issued share capital, is through an underwritten sell-down to equity market investors and a selective share buy-back by Woodside.

“Today’s announcement is part of our drive to improve Shell’s capital efficiency and to focus our Australia growth in directly owned assets”, said Shell Chief Executive Officer Ben van Beurden. “It doesn’t change our view of Australia as an important player on the global energy stage, or Shell’s central role in the country’s energy industry.”

Shell Australia’s Country Chair, Andrew Smith, added, “Woodside is an important strategic partner for us, through our investments in established projects such as the North West Shelf and growth opportunities such as Browse.

Tags: Royal Dutch Shell plc, Woodside Petroleum Ltd

Advertisment:

Comments on this page are closed.

+ Larger Font | + Smaller Font

Top Stories

New Chief Executive Officer of Aker Energy Feb 23, 2018 Jan Arve Haugan has been appointed as Chief Executive Officer of the newly established oil company Aker Energy, effective 1 March 2018. Haugan is currently the President & CEO of Kværner ASA.

Rystad Energy - Borr Drilling takes charge of the jackup market

Borr Drilling Goes From Empty-Handed to the Largest Jack-Up Driller In Just 16 Months Feb 23, 2018 “It is remarkable what Tor Olav Troim has achieved in such a short amount of time. Going from two jack-ups in December 2016 to becoming the largest jack-up provider...” says Oddmund Føre, vice president of oilfield service research at Rystad Energy.

Borr Drilling Takes Over Paragon Offshore to Expand MODU Fleet Feb 23, 2018 Borr Drilling’s acquistion of Paragon Offshore will create a USD 3.57 billion MODU fleet.

Southwest Research Institute (SwRI) - IMSF2

SwRI to Host Inaugural International Multiphase Flow Separation Symposium Feb 23, 2018 Southwest Research Institute is bringing together oil and gas industry experts for the International Multiphase Flow Separation Symposium (IMFS²), to be held April 25-26, 2018, at SwRI’s headquarters...

Rendering of the Johan Sverdrup field in the North Sea (illustration: Statoil/TRY)

Further Increasing Johan Sverdrup Value
Feb 7, 2018
Statoil and partners have further increased the value of the Johan Sverdrup field as a result of continued high quality in project execution, good drilling efficiency and further maturation of the resource base.

Faroe Petroleum - Fogelberg discovery and appraisal wells

Faroe Commences Fogelberg Appraisal Well
Feb 6, 2018
Faroe Petroleum has announced the commencement of the Fogelberg appraisal well and contingent sidetrack 6506/9 – 4A and 4S in the Norwegian North Sea (Faroe 28.3%).

North Sea Exploration Success for BP
Feb 1, 2018
BP has announced two new exploration discoveries in the North Sea. The discoveries are Capercaillie, in Block 29/4e in the Central North Sea, and Achmelvich, in Block 206/9b west of Shetland.