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2018-08-22 12:35:00

SANTOS BUYS QUADRANT: $2.15 BLN

SANTOS BUYS QUADRANT: $2.15 BLN

REUTERSAustralian oil and gas firm Santos Ltd said on Wednesday it has agreed to buy privately held Quadrant Energy for at least $2.15 billion, bagging access to what may be the biggest oil find off Western Australia in over two decades.

The deal comes soon after Quadrant and junior joint venture partner Carnarvon Petroleum reported what Carnarvon called a "truly incredible" oil discovery, sending Carnarvon shares rocketing to a nine-year high.

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Tags: AUSTRALIA, SANTOS, QUADRANT

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SANTOS BUYS QUADRANT: $2.15 BLN
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