Houston-based ConocoPhillips on September 8 stated that it had agreed to pay up to $8 billion for half of the share of the gas assets of Australia's Origin Energy Ltd. The company would make an upfront payment of $5 billion, followed by four additional payments of $500 million, as part of a joint venture that would process coal seam gas into liquefied natural gas for export to Asia1.

• 1. “Concophilips bids $8B for Origin Energy assets,” Market Watch, September 8, 2008, at http://asianenergy.blogspot.com/2008/09/conocophillips-bids-8b-for-origi....