Woodside Petroleum Limited (ASX:WPL) has announced a gas discovery at the Toro exploration well within exploration permit WA-430-P in north west Western Australia.
The oil and gas producer says the well has intersected about 150 metres gross gas and 65 metres net gas within the Mungaroo Formation target.
Woodside says the successful exploration outcome builds the company’s gas volumes within the Exmouth Sub-Basin and creates opportunities for maximising the value of its Australian assets.
The news comes after Woodside yesterday inked a 20-year liquefied natural gas sale and purchase agreement with Corpus Christi Liquefaction, LLC.
Woodside Petroleum reported a net profit of more than $2 billion in the full 2013 calendar year.
