Jadestone joins offshore Macedon, Pyrenees fields bid process

Offshore staff

SINGAPORE — Jadestone Energy has confirmed it is participating in a bid process managed by Morgan Stanley on behalf of Woodside Energy.

This concerns Woodside's proposed sale of its interests in the Macedon and Greater Pyrenees developments offshore Western Australia, including the Macedon producing gas field 75 km offshore Onslow and various oil producing fields known as the Pyrenees Area.

Woodside's net share of production from these projects averaged about 28,000 boe/d during the second half of last year, Jadestone said.

If the company is named the preferred bidder and can reach an agreement with Woodside, the proposed acquisition would be a reverse takeover transaction in accordance with AIM Rule 14.

02.13.2024