Santos to Spend A$476 Million Increasing Coal Seam Gas Position - The international energy

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Santos to Spend A$476 Million Increasing Coal Seam Gas Position

in-en.com 2009-7-3 13:41:45

Santos Ltd. will spend A$476 million ($382 million) to expand its coal seam gas assets in the Gunnedah basin in Australia's New South Wales state.

Santos will buy a 35 percent stake from Gastar Exploration Ltd. in exploration permits and production areas operated by Eastern Star Gas Ltd., the Adelaide-based company said today in a statement to the Australian stock exchange. It will also buy a 19.99 percent interest in Eastern Star Gas from Hillgrove Resources Ltd.

Author:Bloomberg From:Bloomberg Edit:Alina

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