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Conoco Sells Australian Assets to Santos for $1.39B

Santos Limited ConocoPhillips
AnnouncedOct 14, 2019
TypeProperty
LocationAustralia Oil & Gas
Announced Date
October 14,2019
Effective Date
January 01,2019
Close Date
May 27,2020
Transaction Type
Property
Enterprise Value (EV)($MM)
1390




Snapshot
Asset/Basin:
{"Bonaparte Basin","Timor Sea"}
Proved Reserves
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Location
Region
Austral-Asia

Country
Australia

Play
Australia Oil & Gas


Production & Reserves
Production
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Reserves
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Calculated Metrics( EV/Category)
$/ Flowing
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Transaction Details:  Subscribe to see

ConocoPhillips has agreed to sell the subsidiaries that hold its Australia-West assets and operations to Santos for $1.39 billion.

This deal closed on May 27, 2020.

In connection with the closing, ConocoPhillips and Santos agreed to restructure the payments such that $125 million of the originally announced $1.39 billion upfront cash payment would be allocated toward a payment due upon final investment decision of the proposed Barossa development project. This brings the total due to ConocoPhillips upon a final investment decision to $200 million.

The subsidiaries hold the company's 37.5%…


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Other Austral-Asia Region's Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Dec-08-2021 - - Click here   E&P
Oct-14-2020 - - Click here   E&P
Dec-18-2019 - - Click here   E&P
Oct-01-2018 - - Click here   E&P
Aug-22-2018 - - Click here   E&P

Price History


Date Deal Headline Price$/acre
Aug-22-2018 Santos Acquires Aussie E&P Quadrant in $2.8B Deal - -
Oct-31-2016 TAG Oil Acquires PL 17 in Australia's Surat Basin - -