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Karoon buys US Gulf of Mexico assets in $1.15bn deal

AUSTRALIAN-LISTED oil and gas explorer Karoon Energy will acquire stakes in the Who Dat and Dome Patrol fields and infrastructure, as well as an interest in the Abilene field, from deepwater US Gulf of Mexico operator LLOG, in a deal valued at A$1.152 billion.

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The acquisition is valued at US$720 million, coupled with US$27 million in associated costs, and will be funded by US$171 million cash, US$274 million debt, and a US$300 million (A$480 million) equity...

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