August 22, 2018
On 22 August 2018, Quadrant Energy Shareholders announced an agreement to sell 100 percent of their interest in Quadrant Energy to Santos Limited.
The Sale and Purchase Agreement is subject to customary closure mechanics, including approvals from the Australian Competition and Consumer Commission (ACCC), and until those arrangements are finalised Quadrant is committed to operating the business as usual.
Quadrant Energy Chief Executive Officer Brett Darley said he was extremely proud of the whole team at Quadrant Energy who over the past three years, have transformed Quadrant into a highly successful stand-alone business.
“We have delivered operational excellence, outstanding results in our exploration program and successfully integrated an entire new business model throughout the company. All of this has been achieved with a strong focus on the environment, and the commitment to the health and safety of our people,” Mr Darley said.
“On behalf of Quadrant Energy I would like to say how pleased I am to be part of this agreement with Santos and our business and people are well placed for this exciting new chapter as part of a national and international oil and gas producer.”
Please visit the Macquarie, Brookfield, Wesfarmers and Santos websites for copies of their announcements.