Exxon to sell Scarborough gas field stake to Woodside Petro for $744M

Exxon Mobil (NYSE:XOM) agrees to sell its 50% interest in the Scarborough gas field off Western Australia from Woodside Petroleum (OTCPK:WOPEF, OTCPK:WOPEY) for $744M, with part of the total due pending Woodside"s final investment decision on developing the field.

Scarborough’s once-promising trove of gas fell out of favor with XOM as more profitable, less risky liquefied natural gas opportunities arose places such as Papua New Guinea and Mozambique.

Woodside, which also reports FY 2017 net profit of $1.02B, up from $868M last year and nearly matching the $1.06B analyst consensus estimate, says it will raise A$2.5B (US$1.96B) from shareholders to fund the purchase of XOM"s stake as well as developments in Australia and Senegal.

Nguồn: seekingalpha.com