Further to Woodside’s ASX announcement dated 14 July 2016, Woodside is pleased to announce completion of the transaction to acquire 100% of the shares in ConocoPhillips Senegal B.V.
The transaction has completed for a purchase price of US$350 million plus net customary adjustments of approximately US$90 million.
The acquisition includes a 35% working interest in three offshore exploration blocks, which contain the SNE and FAN deep water oil discoveries in Senegal.
About Woodside
Woodside is Australia’s largest independent oil and gas company, with a proud history of safe and reliable operations spanning decades.
As the largest operator of oil and gas in Australia, Woodside produces around 900,000 barrels of oil equivalent each day from a portfolio of facilities which we operate on behalf of some of the world’s major oil and gas companies.
About ConocoPhillips
ConocoPhillips (NYSE: COP) is the world’s largest independent E&P company based on production and proved reserves. Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 21 countries, $20 billion in annualized revenue, $100 billion of total assets, and approximately 15,600 employees as of March 31, 2016. Production, excluding Libya, averaged 1,578 MBOED for the three months ended March 31, 2016, and proved reserves were 8.2 billion BOE as of Dec. 31, 2015.