Australia's Origin Energy has decided to divest its upstream oil and gas business via an initial public offering of a new company to be listed on the Australian Securities Exchange.
Listing of the new company - dubbed NewCo - is targeted for 2017, and its assets will include Origin's conventional oil and gas assets, but not its interests in the Australia Pacific LNG project, Ironbark project and its Browse and Beetaloo basin exploration ventures; these latter assets will be retained by Origin.
NewCo
