February 13, 2018 / 10:20 PM / in 4 months

Woodside to raise A$2.5 billion for Scarborough acquisition

MELBOURNE, Feb 14 (Reuters) - Woodside Petroleum said on Wednesday it would raise A$2.5 billion ($1.96 billion) from shareholders to fund the purchase of an additional 50 percent stake in the Scarborough gas field and fund developments off Western Australia and Senegal.

“Today’s raising puts Woodside and our shareholders in a strong position. It will allow us to develop new supply that we expect to be materially value accretive,” Woodside Chief Executive Peter Coleman said in a statement.

$1 = 1.2724 Australian dollars Reporting by Sonali Paul

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