Woodside buys ExxonMobil’s Scarborough field stake, announces A$2.5bn share sale

Australian oil and gas producer Woodside on Wednesday announced that it had entered into a binding agreement to buy ExxonMobil’s share of the Scarborough gas field, in the Carnavon basin as part of a A$2.5-billion share sale. The transaction involves an additional 50% interest in WA-1-R, which contains the Scarborough gas field and will result in Woodside holding a 75% interest upon completion by the end of next month.