History
Woodside was incorporated on 26 July 1954. It was originally named Woodside (Lakes Entrance) Oil Co NL and it was named after the small town of Woodside, Victoria. Woodside's early years were focussed on Victoria's Gippsland Basin. Switching to northern Western Australia in the early 1960s, Woodside joined up with Shell and Burmah Oil to form the original North West Shelf consortium. BHP later replaced Burmah, and with Shell, each became a 40% shareholder in Woodside. In the early 1990s both BHP and Shell agreed to sell down to 34% stakes each, before BHP sold out completely (for an average price of $3 per share, completing the sale in October 1994). On 9 November 2010, Shell sold approximately one-third of its 34% stake to institutional investors at a share price of $42.23, reducing its overall stake in Woodside to 24%.
Read more about this topic: Woodside Petroleum
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