Apache Australia now Quadrant Energy

An aerial view of Quadrant Energy's Varanus Island facilities.

An aerial view of Quadrant Energy's Varanus Island facilities.

A new Australian oil and gas company, Quadrant Energy, has been established following the successful completion of the sale of Apache Energy’s Western Australian oil and gas assets.

The acquisition by a consortium of private equity funds managed by Macquarie Capital Group and Brookfield Asset Management covers all of Apache’s Australian production assets, exploration permits and the management team and staff.

“This is an exciting time for the Australian energy sector with the emergence of a new Perth-based Australian upstream oil and gas company matched with the global resources of two well established and recognised international owners,” Quadrant Chief Executive Officer Brett Darley said.

“Exploration will remain a major focus for Quadrant Energy, with drilling activity on the Levitt prospect and Roc-1, associated with the recent Phoenix discovery, in the Carnarvon Basin scheduled to be undertaken in the second half of this year.”

With a primary focus on activities in the Exmouth and Carnarvon basins, offshore north Western Australia, the company’s operations cover 45 exploration permits and 17 production licences, covering more than 81,000 sq km.

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