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Woodside closes purchase of Apache interests in Australian assets


Published Apr 3, 2015
Woodside Corporation

In December 2014 Woodside entered into a binding transaction with Apache Corporation to acquire Apache's Wheatstone LNG and Balnaves oil interests in Australia and Kitimat LNG project interests in Canada, for an aggregate purchase price of US$2.75 billion and an expected closing adjustment of approximately US$1.0 billion.

The Australian Wheatstone LNG and Balnaves oil component of the transaction successfully closed on 2 April 2015 for a total cost of US$2.817 billion, including a closing adjustment of US$567 million. The closing adjustment represents reimbursement of Apache's net expenditures in the Wheatstone LNG project, changes in working capital and net receipts from the Balnaves oil project between the effective date, 1 July 2014, and closing.

Tags: Woodside Corporation




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