Origin reduce oil and gas stake to fund 2nd stage

{ Origin reduce oil and gas stake to fund 2nd stage }

Posted by {Sean Johnson} 04.07.12

ORIGIN Energy and ConocoPhillips will auction a $3 billion stake in their Australia Pacific LNG plant at Gladstone and its associated coal-seam gasfields to help fund a second stage of the $23bn development.

The planned sale, which Origin chief Grant King announced yesterday with the approval of a second production train at the APLNG site, would rule out an Origin equity raising and helped push Origin’s share price higher yesterday.

For more information click on the link: http://www.theaustralian.com.au/business/mining-energy/energy-giants-to-sell-3bn-aplng-stake-to-fund-second-stage/story-e6frg9df-1226417232648

Posted by Sean Johnson in Technical & Operations

{ Origin reduce oil and gas stake to fund 2nd stage }

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