Woodside completes deal on Apache Corp.’s Kitimat LNG stake

4/10/2015

PERTH, Australia -- Woodside entered into a binding transaction with Apache Corp. in December to acquire Apache’s Australian Wheatstone LNG and Balnaves oil interests and Kitimat LNG project interests in Canada, for an aggregate purchase price of $2.75 billion and an expected closing adjustment of approximately $1.0 billion.

The Wheatstone LNG and Balnaves oil component of the transaction closed on April 2. And the component of the transaction relating to the Canadian Kitimat LNG project closed on Friday for a purchase price of $854 million, including $354 million in adjustments.

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. 

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