Santos closes acquisition of Quadrant

SANTOS’S US$2.15 billion takeover of Western Australia’s Quadrant Energy has finally closed and will become effective from the start of the New Year, giving Santos a “leading position” in the highly prospective Bedout Basin where the infamous Dorado and Pheonix South projects lie.

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The Adelaide oiler, itself a takeover target for a time with a $14.4 billion offer from US private equity firm Harbour Energy earlier this year, paid US$1.