One-Page Deal Sheet
BG Group Buys Stake in Shale Gas Driler Drillsearch
BG Group Drillsearch Energy, Ltd.
Announced Date
February 02,2012
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
21
Asset/Basin:
{"Cooper Basin"}
TargetZones:
{"Nappamerri Trough
Transaction Details: Subscribe to see
BG Group has exercised its option to acqure a 9.4% stake in, Drillsearch Energy, its partner in an unconventional gas exploration project in central Australia's Cooper Basin.
This gives Drillsearch aproximately A$19.6 million ($20.8 million) of funding.
The option was granted to BG as part of a planned partership agreement with Drillsearch last July.
Under the terms of that deal, BG Group will acquire a 60% interest in Drillsearch's ATP 940P permit in the central Cooper Basin's Nappamerri Trough shale gas fairway by funding A$90 million of the first A$100 million spent on a five-year…
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