The Conversation (0)
Oil and gas producer Woodside Petroleum Ltd. (ASX:WPL) and BP plc (LSE:BP) have entered into an agreement over a farm-in offshore the Scotian Basin, in Canada.
Oil and gas producer Woodside Petroleum Ltd. (ASX:WPL) and BP plc (LSE:BP) have entered into an agreement over a farm-in offshore the Scotian Basin, in Canada.
Earlier this week, Woodside also spent $2.75 billion to acquire a 13-percent stake in the Wheatstone liquefied natural gas (LNG) project, as well as interests in the Balnaves oil project and the Kitimat LNG project.
As quoted in the market news:
Woodside on Thursday told shareholders that it would acquire a 20% participating interest in four exploration licenses in the Scotian basin, while BP would remain operator over the project area.
The licenses covered some 14 000 km2, in warer depths ranging from 500 m to 3 600 m. BP was expected to start drilling exploration wells in 2017.
Woodside CEO Peter Coleman stated:
This acreage was high graded as part of our disciplined study of the Atlantic margins and it will complement our position in Morocco.