Australian energy company Woodside Petroleum announced Friday it closed on a deal to acquire Canadian interests from rival Apache Corp.
The company said it completed its grab of a stake in the Kitimat liquefied natural gas project and the Balnaves oil interest in Canada from Apache, which is focusing its interests on other North American basins.
Chevron is leading developments at the Kitimat facility along the western Canadian coast. The company said all environmental permits are in place and the Canadian National Energy Board has approved exports of 10 million tons of LNG per year.
Production at Balnaves began in August with a net 2 million barrels of oil in 2014.
Last week, Woodside closed on a deal with Apache to take on a minority stake in the Wheatstone LNG project and a majority interest in the Julimar-Brunello gas project in Australia.
Apache, meanwhile, said Thursday it was strengthening its position in the North American market through the $2.1 billion sale of its Australian subsidiary.
Total production for the Australian entity was around 49,000 barrels of oil equivalent last month.
Apache last year said it was repositioning itself as a major North American player, where output in the oil sector is "repeatable [and] predictable."
