Oil and gas company Santos buys competitor Quadrant Energy for $ 2.15 billion

Macquarie Group and Brookfield Asset Management sold their assets to an Australian company

Santos, oil and gas company. from Australia agreed on the acquisition of a competing company Quadrant Energy for $ 2.15 billion from the Macquarie Group and Brookfield Asset Management.

According to a press release Santos, the deal is planned to be fully paid by existing cash and a new debt.

Santos expects that the purchase of Quadrant will increase the annual production of hydrocarbons of the company by one third, and the volume of explored reserves by a quarter. Synergetic effect of the merger will be $ 30-50 million per year. The capitalization of Santos, which has grown by 15% since the beginning of the year, reaches $ 13 billion.

Quadrant Energy owns gas assets in the state of Western Australia, mainly in the offshore Carnarvon field. In addition, Quadrant Energy owns a share in the Bedout deposit, which is considered the largest oil field in the country, opened in 1996.

fixygen.ua