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Karoon Farms-out Australia Blook To Apache

Apache Corp Karoon Gas Australia Ltd
AnnouncedMay 17, 2014
TypeFarm-In/Farm Out
Announced Date
May 17,2014
Transaction Type
Farm-In/Farm Out




Snapshot
Location
Region
Austral-Asia

Country
Australia


Transaction Details:  Subscribe to see

Karoon Gas FPSO Pty Ltd, a wholly owned subsidiary of Karoon Gas Australia Ltd, has entered into a Farm‐out Agreement to farm‐out a 50% interest in Carnarvon Basin Exploration Permit WA‐482‐P (the Permit) to Apache Northwest Pty Ltd a wholly owned subsidiary of Apache Corporation (Apache).

Pursuant to the Farm‐out Agreement, Apache will acquire a 50% interest in the Permit on the following terms:

Pay Karoon US$9.04 million in reimbursement of seismic acquisition costs.  Fund 90% of the drilling costs for one exploration well capped at a value of US$63 million. This exploration well will…

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