NYSE:COPOil and Gas
ConocoPhillips Faces Otway JV Funding Default And Partnership Test
3D Energi has entered a trading halt after defaulting on funding obligations for its share of the Otway Basin exploration campaign led by ConocoPhillips.
The payment default relates to an active offshore exploration project, raising questions about funding arrangements and future work plans for the joint venture.
The situation introduces fresh uncertainty around project timing and partnership structure at a time when ConocoPhillips, NYSE:COP, is engaged in exploration activity in the...