Company news: Woodside, Origin, NWS and more

Woodside's potential expansion of LNG operations on the NWS.

Woodside's potential expansion of LNG operations on the NWS.

PPO News provides you with a wrap of this week’s company news and movements in the Australian oil and gas industry.

Following this week’s announcement of a $2.5 billion fundraising scheme for a majority stake in the Scarborough gas field, Woodside Energy is looking to expand its LNG presence.

Woodside has agreed to buy ExxonMobil’s 50 per cent stake in Scarborough for up to $744 million, which would take Woodside’s stake up to 75 per cent, with part of that due pending a final investment decision (FID) on developing the field.

According to the West Australian, the move could see the explorer invest upwards of US$12.5 billion on developing its Scarborough and Browse gas fields, located off the coast of northwest Western Australia.

Origin Energy has announced a statutory loss of $207 million in its half year FY18 report, driven by impairment charges after tax of $533 million.

Underlying Earning Before Interest, Tax, Depreciation and Amortisation (EBITDA) from continuing operation increased $502 million (51 per cent) to $1.49 billion.

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