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Woodside Fills Reserves With Deal for 50% of BHP's West Australian Fields

Australia's Woodside Petroleum (WOPEY) will pay $400 million for half of BHP Billiton (BHP) stakes in four gas fields off Western Australia, striking its second major deal since promising acquisitions after shelving its huge Browse gas field project earlier this year.

Woodside will pay an initial $250 million for a half-share of three fields and 25% of a fourth, with a further $150 million contingent on a final decision to develop the...