Karoon concludes $720M acquisition of stakes in US O&G fields

Fossil Energy – Acquisition

Australia’s Karoon Energy has completed the acquisition of interests from LLOG Exploration Offshore and LLOG Omega Holdings for the U.S. Gulf of Mexico oil and gas fields.

The acquisition includes a 30% working interest in the Who Dat and Dome Patrol oil and gas fields and associated infrastructure, an approximately 16% working interest in the Abilene field and varying interests in adjacent exploration acreage.

The effective date of the transaction is October 1, 2023.

On completion, Karoon paid $684 million to LLOG Exploration Offshore and LLOG Omega Holdings, as the deposit of $36 million was already paid.

Original Source: https://ocean-energyresources.com/2024/01/04/karoon-concludes-720m-acquisition-of-stakes-in-us-og-fields/