Profile's ShareDataOnline

Tue, 6 Dec 2016	Official Announcement [RD]
BHP Billiton - submission of winning bid in Mexico BHP Billiton announced that it submitted the winning bid to acquire a 60 per cent participating interest in and operatorship of blocks AE-0092 and AE-0093 containing the Trion discovery located in the deep-water Gulf of Mexico offshore Mexico. PEMEX Exploration & Production Mexico (Pemex) will retain a 40 per cent interest in the blocks. Pemex estimates the gross recoverable resource to be 485 MMboe. Subject to satisfaction of conditions (including the obtaining of government approvals), it is anticipated that the relevant agreements would be finalised and signed within 90 days. BHP Billiton’s bid for Trion includes an upfront cash payment of USD62.4 million and a commitment to a Minimum Work Program (estimated to be up to a maximum of USD320 million). Should BHP Billiton and Pemex agree to progress the project beyond the Minimum Work Program, BHP Billiton would be required to invest the remainder of the USD570 million Minimum Work Contribution (which includes the Minimum Work Program spend) and a USD624 million cash contribution (which comprises the upfront cash payment of USD62.4 million already paid and the balance of USD561.6 million as a future carry for Pemex). BHP Billiton’s bid also includes a commitment to an additional royalty of 4%.
Click here for original article

< 2017 January

2016 Index

2016 November >

Closing price data source: JSE Ltd. All other statistics calculated by ProfileData.

Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.

Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site

Show me the New ShareData Online message.