- ConocoPhillips (NYSE:COP), through its Australian subsidiary, intends to operate Australia Pacific LNG (APLNG) upstream.
- ConocoPhillips holds a 47.5% APLNG shareholding interest and has agreed to purchase up to an additional 2.49% for $0.5 billion, totaling 49.99% upon closing.
- Both the assumption of upstream operatorship and the shareholding acquisition are dependent on EIG closing its transaction with Origin Energy Ltd.(OTC:OGFGF) (OTC:OGFGY).
- ConocoPhillips’ FY22 production from APLNG was ~136 thousand barrels of oil equivalent per day (MBOED).
- The transaction is expected to close in early 2024. The effective date of the transaction will be July 1, 2022.
- ConocoPhillips held cash and short-term investments of $9.5 billion as of December 31, 2022.
- Price Action: COP shares closed at $95.43 on Friday.
Tesla Countersues California Agency In Racial Discrimination Lawsuit Over Lack Of ‘Fair And Neutral Investigation’
Tesla Inc. (NASDAQ: TSLA) on Thursday filed a countersuit to the California Civil Rights Department’s lawsuit regarding alleged racial discrimination and harassment at the company between 2015 and 2019.
