Woodside's shares jumped 6.5% after the figure was disclosed in BHP's annual report on Tuesday, outperforming gains of around 4% among its peers.
BHP said in its annual report that as of June 2021, its petroleum assets included "property plant and equipment and closure and rehabilitation provisions of approximately $11.9 billion and $3.9 billion, respectively". Kavonic said he had assumed Woodside might inherit as much as $5 billion to $7 billion in decommissioning liabilities in the merger with BHP's petroleum arm, which comprises assets in Australia, the Gulf of Mexico, Trinidad and Tobago, and Algeria.
this is terrible news