Monday 19 November 2018

Santos announced on 22 August 2018 the proposed acquisition of 100% of Quadrant Energy (Quadrant) for US$2.15 billion plus potential contingent payments.

On 16 November, Santos advised that the condition precedent for completion of the acquisition of Quadrant has been satisfied with the ACCC decision not to oppose the acquisition.

Completion is expected to occur within weeks.

Santos Managing Director and Chief Executive Officer Kevin Gallagher said the Quadrant acquisition delivers increased ownership and operatorship of a high quality portfolio of low cost, long life conventional Western Australian natural gas assets which are well known to Santos.