Freehills and Piper Alderman have advised on Santos Ltd.‘s $744 million acquisition of an 80-percent stake in Eastern Star Gas Ltd., a Sydney-based coal gas exploration, development and production company.
Santos, an Adelaide-based oil and gas company, already owns 20 percent of Eastern Star Gas. The acquisition of the outstanding stake will give Santos full control of the target’s coal seam gas exploration permit in the Gunnedah Basin in New South Wales. It will also enable Santos to operate Eastern Star Gas’ main project, the Narrabri gas exploration project in New South Wales, in which Santos already holds a 35-percent stake.
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