- Exxon Mobil (NYSE:XOM) and BHP Billiton (NYSE:BHP) say they are studying plans to sell depleting energy assets in Australia, including Kingfish, the largest oil field ever discovered in the country.
- The companies are considering marketing 13 fields, licenses and associated infrastructure held in the Gippsland Basin 50-50 joint venture in Australia's Victoria state, which began operations in 1969.
- BHP’s Bass Strait unit, which includes the miner's stake in Gippsland Basin and a second JV, may be worth ~$1B, but that the unit's liquids production is in decline, Citigroup analysts said recently.