In September 2016, Woodside completed the acquisition of half of BHP Billiton’s Scarborough-area assets in the Carnarvon Basin offshore Western Australia for US$250 million, the company said Nov. 15.

The Scarborough area assets include the Scarborough, Thebe and Jupiter gas fields, which are estimated to contain 8.7 trillion cubic feet (Tcf) of gross 2C dry gas resources.

A contingent US$150 million payment will be due upon a final investment decision to develop the Scarborough Field.

The transaction’s effective date is July 1, and Woodside first entered binding sale and purchase agreements in September.

Woodside acquired a 25% interest in WA-1-R and a 50% interest in WA-61-R, WA-62-R and WA-63-R. Woodside will operate WA-61-R, WA-62-R and WA-63-R. ExxonMobil Corp. (NYSE: XOM) is the operator of WA-1-R.

Woodside’s best estimate contingent resources (2C) has now increased by 462 million barrels of oil equivalent, or 2,632 Bcf of dry gas.

Offshore