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Woodside buys ExxonMobil out of Scarborough
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Report summary
Woodside’s has snapped up ExxonMobil’s 50% interest in the 7.3 tcf Scarborough field for US$744 million, taking its take to 75%. The key driver is optionality. Woodside can now choose how it wants to commercialise the gas, with options including Pluto LNG backfill, Pluto expansion, supply to North West Shelf LNG and the domestic market. We evaluate the options, and also why ExxonMobil was a motivated seller.
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