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A&D - Conoco clinches $1.46B northern Australia sale to Santos - June 2020

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ConocoPhillips completed the $1.46 billion sale of its assets in northern Australia and Timor Leste on May 27 to Australia’s Santos Ltd. The companies restructured payments so that $125 million of the originally announced $1.39 billion upfront cash will instead be due upon the recently deferred FID for the Barossa gas condensate development off Australia’s Northern Territory. That brings the total due upon FID to $200 million. Conoco said it has received net cash......
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