- 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.
Bitcoin, Ethereum, Dogecoin Trade Mixed Ahead Of CPI Data: Analyst Sounds ‘Mayday’ After Crypto Market Slips Below This Key Indicator
Major cryptocurrencies exhibited mixed trading behavior on Monday evening after a troubling week when the Securities and Exchange Commission (SEC) filed lawsuits against Binance and Coinbase – the crypto exchange behemoths. Adding to the uncertainty is the widespread concern regarding the monetary policy adopted by the U.S.
