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Track Drilling (Rigs by operator) | Completions (Frac Spreads)

One-Page Deal Sheet

Karoon to Sell Browse Interest to Origin, form JV

Origin Energy Ltd. Karoon Gas Australia Ltd
AnnouncedJun 2, 2014
TypeJV
Announced Date
June 02,2014
Close Date
August 12,2014
Transaction Type
JV
Enterprise Value (EV)($MM)
800




Snapshot
Asset/Basin:
{"Browse Basin"}
Location
Region
Austral-Asia

Country
Australia


Transaction Details:  Subscribe to see

Karoon has entered into a binding Sale and Purchase Agreement with Origin Energy Limited for the sale of the Company's 40% equity interest in Browse Basin exploration permits WA-315-P and WA-398-P for up to US$800 million.

Under the terms of the Agreement, the consideration payable to Karoon is structured as follows:

An upfront cash payment of US$600 million payable upon Completion; A deferred cash payment of US$75 million payable on Final Investment Decision; A deferred cash payment of US$75 million payable on First Production; and A deferred resource cash payment of up to US$50 million…

Source : Subscribe to see

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