Woodside Acquires Interest in 21 Gulf of Mexico Blocks

Woodside Energy Ltd was the successful bidder in 21 Outer Continental Shelf blocks in the Gulf of Mexico Central Lease Sale 190 held by the MMS in New Orleans last week. The final results of the sale are expected within a few months, following bid evaluation and approval by the MMS.

Woodside bid, with partners, on 24 blocks of which 4 are on the Louisiana shelf and 20 are in the deepwater. If all 21 high bids are approved the net cost to Woodside will be US$4.2 million.

Woodside has focused on the Gulf of Mexico as a key area of growth for its international exploration and production activities since 1999. The company's business plan for the Gulf of Mexico sees participation in lease sales as a key element to asset and portfolio growth.

If all the high bids are approved by the MMS, it will bring the total Woodside holding in the Gulf of Mexico to 150 blocks, of which 52 will be on the shelf and 98 in the deepwater.

Woodside participated in Central Lease Sale 190 with bidding partners Marathon Oil Company in Mississippi Canyon, ConocoPhillips Company in Green Canyon and Pioneer Natural Resources USA, Inc. on the Shelf. Woodside will have a working interest of between 45% and 50% in each block.