trending Market Intelligence /marketintelligence/en/news-insights/trending/agzexfpxo-s1vizj0orpxa2 content esgSubNav
In This List

Exxon to sell 50% stake in Scarborough gas field offshore Australia to Woodside

Blog

Understanding Loss Given Default A Review of Three Approaches

Blog

Insight Weekly: US recession outlook; mortgage activity slowdown; climate disclosure push

Blog

Firms Realize the Value of Data Driven Decision Making

Blog

Insight Weekly: Cybersecurity M&A momentum; US banks' loan growth; miners' labor supply woes


Exxon to sell 50% stake in Scarborough gas field offshore Australia to Woodside

Exxon Mobil Corp. agreed to sell its 50% stake in the Scarborough gas field offshore Western Australia to the Australian petroleum exploration and production company Woodside Petroleum Ltd. for $744 million, according to a Feb. 14 news release.

Woodside CEO Peter Coleman said the company's increased stake in the Scarborough field will help maximize the existing infrastructure at its Pluto LNG plant, which is part of the company's Burrup Hub development. The increased stake is also expected to feed the expansion of the plant.

The acquisition is expected to close by the end of the first quarter.