Australian government OKs Woodside acquisition of Apache interests

The Australian Competition and Consumer Commission will not oppose Woodside’s (ASX: WPL) proposed acquisition of Apache Corp.’s interests in the Wheatstone, Balnaves, and Kitimat projects.

Mar 6th, 2015

Offshore staff

PERTH, Australia – The Australian Competition and Consumer Commission will not oppose Woodside’s (ASX: WPL) proposed acquisition of Apache Corp.’s interests in the Wheatstone, Balnaves, and Kitimat projects.

Wheatstone and Balnaves are in the Northern Carnarvon basin, offshoreWestern Australia, while  Kitimat is in British Columbia, Canada.

While the ACCC determined that, in this instance, the proposed acquisition would be unlikely to raise significant competition concerns, the commission noted concerns expressed by the market about the effects of any further industry consolidation.

03/06/2015

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