Santos CSG Pty Ltd., a subsidiary of Santos Ltd., Adelaide, Australia, (Nasdaq: STOSY, Australia: STO) plans to acquire Queensland Gas Co. Ltd., Brisbane, Australia, (Australia: QGC) for A$1.26 per share in a deal valued at US$451.5 million (A$606 million). Queensland Gas interests and petroleum leases are in the Surat Basin in southern Queensland, with current focus in the Berwyndale South Field. The company also has pilot wells the Argyle East prospect 25 kilometers southwest of Chinchilla, Australia. Total proved reserves on the assets are 142.6 billion cubic feet of gas, with probable reserves of 258.7 billion cubic feet and possible reserves of 1.3 trillion cubic feet for total proved-plus-probable-plus-possible reserves of 1.7 trillion cubic feet.
Recommended Reading
E&P Highlights: Jan. 6, 2025
2025-01-06 - Here’s a roundup of the latest E&P headlines, including company resignations and promotions and the acquisition of an oilfield service and supply company.
E&P Highlights: Dec. 16, 2024
2024-12-16 - Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.
Analysis: Middle Three Forks Bench Holds Vast Untapped Oil Potential
2025-01-07 - Williston Basin operators have mostly landed laterals in the shallower upper Three Forks bench. But the deeper middle Three Forks contains hundreds of millions of barrels of oil yet to be recovered, North Dakota state researchers report.
US Drillers Add Oil, Gas Rigs for First Time in Eight Weeks
2025-01-31 - For January, total oil and gas rigs fell by seven, the most in a month since June, with both oil and gas rigs down by four in January.
Sliding Oil Prices Could Prompt Permian E&Ps to Cut Capex
2024-12-03 - A reduction in the rig count would also slow the growth of natural gas output from the region, benefitting gassy Gulf Coast players, according to Enverus.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.