Santos thanks RISC for its help in US$2.15 billion takeover of Quadrant

RISC was recently engaged by Santos Ltd (Santos) to carry out an independent audit of the reserves and resources of selected Australian assets of Quadrant Energy Australia Limited (Quadrant) to support a proposed acquisition. On 23rd August 2018 the announcement was made that Santos’ proposed transaction was successful for the takeover of Quadrant at a cash price of US$2.15 billion, plus potential contingent payments.

Source: Santos ASX Media Release

RISC acted as the technical advisor to Santos, carrying out an independent assessment of the 1P, 2P and 3P reserves and 2C contingent resources of selected producing and undeveloped oil and gas fields operated by Quadrant. The review was successful in helping to secure the support Santos needed to gain approval for the acquisition.

           
Santos Senior Business Development Adviser Sophie Hansson had this to say about RISC’s work on the project following the announcement:

“We couldn’t be more grateful for the assistance you and your team gave us through the process. We gave you very unreasonable timeframes, and you produced some excellent work despite this. I personally appreciate all the times you happily dropped what you were doing so I could quiz you on technicalities…We will definitely keep you in mind on the next roller coaster we enter into.”

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

RISC has an extensive track record of providing acquisition due diligence for clients to support their proposed transactions, and advising those who are considering entry into upstream assets.

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.