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EXPLORATION

Santos and Armour put pedal to the floor at Northern Australian permits

AUSTRALIAN oil and gas giant Santos will accelerate its efforts to explore and develop six permits in the Northern Territory and Queensland, amending a farm-in agreement with its smaller joint venture partner Armour Energy, now helmed by Brad Lingo.

paul hunt
Santos and Armour put pedal to the floor at Northern Australian permits

On Monday, Armour Energy told its shareholders that Santos, which is farming into the permits for a 70% stake, would pay the company a one-off cash payment of A$6 million, and carry the junior for nearly...

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