ConocoPhillips pays US$380M to Kelt Exploration for Canadian Montney acreage in stranded gas area
US major ConocoPhillips has agreed to acquire additional acreage in the Montney Shale in northeast British Columbia held by Kelt Exploration (LNG) Ltd. of Calgary for C$510 million (US$380M) in cash, giving a current valuation in a prolific oil and natural gas area that was once a centre of multiple plans for LNG exports.
Timor Sea gas sale
April 16 (LNGJ) - ConocoPhillips said it completed the previously announced transaction to sell its 30 percent interest in the Greater Sunrise Fields to the government of Timor-Leste for $350 million that was previously the focus for an Australian-based LNG export project. “We are pleased to complete this transaction with the government of Timor-Leste,” said Matt Fox, Chief Operating Officer.
“ConocoPhillips recognizes the importance of the Greater Sunrise Fields to the nation of Timor-Leste, and this sale gives them a significant working interest in this important development,” added Fox. The Sunrise and Troubadour gas and condensate fields, collectively known as the Greater Sunrise Fields, are located in the Timor Sea.
