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<ul>
	<li>ConocoPhillips&nbsp;COP, through its Australian subsidiary,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/03/b31506412/conocophillips-announces-plans-to-become-upstream-operator-and-agreement-to-purchase-additional-sh" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">intends to operate</a>&nbsp;Australia Pacific LNG (APLNG) upstream.</li>
	<li>ConocoPhillips holds a 47.5% APLNG shareholding interest and has agreed to purchase up to an additional 2.49% for $0.5 billion, totaling 49.99% upon closing.</li>
	<li>Both the assumption of upstream operatorship and the shareholding acquisition are dependent on&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/03/g31506847/brookfield-and-eig-consortium-sign-binding-agreement-to-acquire-origin-energy" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">EIG closing its transaction&nbsp;</a>with&nbsp;Origin Energy Ltd.OGFGF OGFGY.&nbsp;</li>
	<li>ConocoPhillips&rsquo; FY22 production from APLNG was ~136 thousand barrels of oil equivalent per day (MBOED).&nbsp;</li>
	<li>The transaction is expected to close in early 2024. The effective date of the transaction will be July 1, 2022.</li>
	<li>ConocoPhillips held&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/02/b30685011/conocophillips-reports-fourth-quarter-full-year-2022-results-and-176-preliminary-reserve-replaceme" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">cash and short-term investments</a>&nbsp;of $9.5 billion as of December 31, 2022.</li>
	<li>Price Action:&nbsp;COP shares closed at $95.43 on Friday.</li>
</ul>

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Conocophillips Agrees To Purchase Additional Stake In APLNG For $0.5B - ConocoPhillips (NYSE:COP)

Akanksha Bakshi

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Conocophillips Agrees To Purchase Additional Stake In APLNG For $0.5B

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