Woodside has entered into a binding agreement with Stonepeak, a leading global investment firm specializing in infrastructure and real assets, for the sale of a 40% interest in Louisiana LNG Infrastructure LLC, providing validation of project quality and increasing attractiveness of the project to other potential equity partners.
“Pancontinental has prudently prepared for the possibility that Woodside may elect not to farm into PEL 87 and a process is already underway to secure an alternate farmin partner to fund exploration drilling within PEL 87 at the earliest opportunity”, Pancontinental said. “The Company has received third party interest and, given the Company’s low quarterly cash burn, remains well funded to progress the farmout process (31 December 2024 cash balance $3.6 million)”.
Woodside has talked to at least three potential partners for the Louisiana LNG project, Reuters has reported, citing unnamed sources as saying the suitors include Japan’s JERA and Tokyo Gas, along with Aramco-backed MidOcean Energy.
Australian pretoleum exploration and production company Woodside Energy Group Ltd. has reported a slip in quarterly revenue and production amid a seasonal demand drop. The company said in its quarterly report that its Q4 revenue landed at $3.47 billion, 6 percent below the previous quarter.
The Australian energy giant Woodside is spending $7bn to drill for 479m barrels-worth of oil and gas off the coast of Mexico, but it says this is all in line with keeping global heating to 1.5C.