Woodside holds on to stake in Senegal oil field as FAR challenge fails [Reuters]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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Source: Reuters
Woodside holds on to stake in Senegal oil field as FAR challenge fails (Reuters) - ConocoPhillips’ ( COP.N ) sale of a stake in a $4.2 billion Senegal oil and gas project to Woodside Petroleum ( WPL.AX ) has been cleared by an international tribunal, resolving a long-running challenge by Australian partner FAR Ltd ( FAR.AX ). Woodside and FAR said on Friday an International Chamber of Commerce panel had ruled that FAR did not have a pre-emptive right to match the offer for the 35% stake in the Sangomar project that ConocoPhillips sold to Woodside in 2016 for just $350 million. FAR said it was reviewing the arbitration award. It holds a separate 15% stake in the Sangomar project, which also counts Cairn Energy Plc ( CNE.L ) as a stakeholder. FAR’s shares fell as much as 9% to 3.1 cents, their lowest level since the middle of 2013, on the news that it would miss out on the chance to potentially raise its stake in Sangomar for a comparatively low price, or win compensation. At th
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COP
Earnings
- 2/8/24 - Beat
COP
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/17/24 - Form 4
- 4/2/24 - Form 4
- COP's page on the SEC website