BHP Group will transfer a smaller-than-expected $3.9 billion in oil and gas decommissioning liabilities to Woodside when it merges its petroleum business with the independent Australian gas producer.
Woodside's shares jumped 6.5% after the figure was disclosed in BHP's annual report on Tuesday, outperforming gains of around 4% among its peers.
BHP said in its annual report that as of June 2021, its petroleum assets included "property plant and equipment and closure and rehabilitation provisions of approximately $11.9 billion and $3.9 billion, respectively". Kavonic said he had assumed Woodside might inherit as much as $5 billion to $7 billion in decommissioning liabilities in the merger with BHP's petroleum arm, which comprises assets in Australia, the Gulf of Mexico, Trinidad and Tobago, and Algeria.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
18 After-School Snacks, All Grown UpEven grown-ups need after-school snacks, and we've got one for every occasion.
Read more »
Pentagon awards Lockheed Martin $6.6 bln sustainment contract for F-35 fighter jetsThe Pentagon has awarded Lockheed Martin Corp annualized contracts worth up to $6.6 billion to support operations and sustainment of the global F-35 fleet, its F-35 Joint Program Office said on Monday.
Read more »
TurboTax maker Intuit to buy Mailchimp for about $12 bln in a data playIntuit Inc , known for its small-business accounting and DIY tax-filing software, said on Monday it will acquire digital marketing company Mailchimp for about $12 billion in a cash-and-stock deal.
Read more »
Sydney Airport board to grant due diligence after improved $17.4 bln offerSydney Airport Holdings Pty Ltd said on Monday it has granted a consortium of infrastructure investors access to due diligence after the group boosted a takeover proposal by 3.6% to A$23.6 billion ($17.4 billion).
Read more »
Kansas City Southern plans to accept Canadian Pacific's $27 bln bidKansas City Southern said on Sunday it planned to accept Canadian Pacific Railway Ltd's $27.2 billion cash-and-stock acquisition offer as superior to its $29.6 billion deal to sell itself to Canadian National Railway Ltd .
Read more »
Sydney Airport sale a step closer after improved $17.4 bln offerA sale of Australia's biggest airport moved closer on Monday as an infrastructure investor group won permission to conduct due diligence on Sydney Airport Holdings Pt Ltd , after sweetening its takeover offer to A$23.6 billion ($17.4 billion).
Read more »