The assets for sale involve 29,000 barrels a day net to Woodside, from reserves of 75 million barrels of oil equivalent, located in the prolific Carnarvon Basin. The portfolio is heavily weighted towards gas, comprising 82 per cent of the total remaining reserves, with the other 18 per cent being liquids, and is expected to keep producing into the mid-2030s.
The flyer from Morgan Stanley puts cash flows from the portfolio, comprising the Macedon domestic gas venture and the Pyrenees oil project, at an average of $US150 million ($232.2 million) a year over the five years from 2023 to 2027.
Carnarvon Energy to scale heights with play for Woodside’s Pyrenees & Macedon assets, page-2
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