RISC acts as Independent Technical Advisor to Santos on Acquisition of ConocoPhillips’ northern Australia interests

Santos today has announced the successful acquisition of ConocoPhillips’ northern Australia business with operating interests in Darwin LNG, Bayu-Undan, Barossa-Caldita and Poseidon for US$1.39 billion plus a $75 million contingent payment subject to FID on Barossa. RISC acted as the Technical Advisor to Santos, conducting acquisition due diligence on all developed and non developed assets associated with the transaction. The independent assessment carried out by RISC reviewed the resource estimates (as at 31 December 2018), production profiles, operating, capital costs, abandonment costs of the fields. The audit was carried out in accordance with the SPE Reserves Auditing Standards under the supervision of RISC ‘s Head of Reservoir Engineering Peter Stephenson, who is a member of the SPE and SPEE.

Please click here to read the full ASX media release from Santos which details the key highlights and financial impact of the acquisition.

Picture: Darwin LNG Facility

RISC has an extensive track record of providing acquisition due diligence for clients to support their proposed transactions. Over the last 5 years we have advised on successful transactions with a total value of over A$17 billion.

RISC was also the technical advisor to Santos on their successful takeover of Quadrant Energy in August 2018.

To find out how we can help you please visit the Capabilities page of our website or contact us on +61 8 9420 6660 or admin@riscadvisory.com.