OGF Article Santos Acquires Quadrant Energy, Takes Ownership of Dorado

Stephen Whitfield, Senior

SPE.org 

The Ensco 107 rig was used to spud the Dorado-1 well offshore Western Australia. The Australian natural gas company Santos has acquired Quadrant Energy for $2.15 billion. The company said in a statement that the acquisition would be fully funded from existing cash resources and new committed debt facilities. Quadrant Energy holds natural gas and oil production, near- and medium-term development, appraisal, and exploration assets across more than 20,000 square miles of acreage, with most of it located in the Carnarvon Basin offshore Western Australia, the country’s largest offshore oil and gas province. In July, Quadrant made a large discovery at Dorado, located in the Bedout Basin near the Pilbara region in northern Western Australia.