In December 2014 Woodside entered into a binding transaction with Apache Corporation to acquire Apache’s Australian Wheatstone LNG and Balnaves oil interests 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 and was subsequently announced to the ASX.

The component of the transaction relating to the Canadian Kitimat LNG project successfully closed today, 10 April 2015 for a purchase price of US$854 million, including US$354 million in adjustments for reimbursement of net expenditures on the project, changes in working capital and other customary adjustments for the period between the effective date, 1 July 2014, and closing.

Under the terms of the Sale and Purchase Agreement, Woodside has acquired a 50% interest in the Kitimat LNG project, including approximately 320,000 net acres in the Horn River and Liard Basins, adding a growth option in an emerging LNG province to Woodside’s development portfolio.

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 Apache

Apache Corporation (NYSE, Nasdaq: APA) is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom and Australia.

See the site of Kitimat LNG Project