Original article by Peter Ker
The Australian Financial Review – Page: 1 & 6 : 7-Dec-16

BHP Billiton has acquired a 60 per cent stake in the Trion oil field in the Gulf of Mexico, following a highly-contested auction process. BHP will initially pay $US62.4m for the stake, while the deal also requires it to spend at least $US320m ($A429m) on an appraisal program. Mexico’s state-owned Pemex, which will have a 40 per cent stake in Trion, estimates that the oil field could contain about 485 million barrels of oil equivalent. BP also submitted a bid to acquire the Trion stake.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, PEMEX PETROLEOS MEXICANOS, BP PLC, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, MACQUARIE GROUP LIMITED – ASX MQG, RIO TINTO LIMITED – ASX RIO, NEWCREST MINING LIMITED – ASX NCM, OZ MINERALS LIMITED – ASX OZL, MEXICO. MINISTRY OF ENERGY