IPR North America Holdings Corp. and IPR Lay Creek LLC plan to acquire the U.S. assets of Santos Ltd., Adelaide, Australia, (Australia: STO) for US$70 million (A$82 million) in cash. The assets include approximately 158 wells on 180,000 gross acres in western Colorado and onshore and offshore the Texas Gulf Coast. The assets produced 2.1 million barrels of equivalent in 2005. Santos plans to focus its exploration activities in Australia, Asia and the Middle East.
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