Corporate Strategy

Woodside-BHP Deal Ticks Transition Boxes

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• Woodside will become a top 10 LNG producer on its absorption of BHP’s oil and gas assets, playing to its near-term LNG growth strategy.

• BHP’s upstream oil assets, particularly in the Gulf of Mexico, will provide it with near-term accretive cash flows to fund this strategy and boost shareholder returns.

• Concerns about taking on more upstream assets might be limited to activist investors thanks to the high-margin, low-carbon nature of BHP’s oil and gas assets.

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