Apache taking Woodside to court over Wheatstone LNG cash dispute

Houston independent Apache Corp. is taking Woodside Petroleum Ltd. to court over an alleged unpaid $64 million cash call associated with the sale of Apache’s interest in the Wheatstone LNG project in Western Australia.

Apache has filed a Supreme Court writ alleging Woodside has not held to its part of the sale agreement.

Apache announced the $2.82-billion sale of its Wheatstone share last December along with its interest in the Kitimat LNG project in Canada and the associated Liard basin gas fields in a separate transaction (OGJ Online, Dec. 15, 2014).

Apache now claims that Woodside refused to refund a number of cash calls in March that it paid during the transfer of ownership period. Apache believes these calls should have been repaid under the sale and purchase agreement.

Neither company has made any public comment about the dispute.