Antares sells US assets in $254m deal
PERTH (miningweekly.com) – ASX-listed Antares Energy has divested of its Northern Star and Big Star oil and gas assets, in the US.
The Northern Star asset was sold for $148.7-million, while the Big Star asset was sold to the same private equity buyer for $105-million.
The company told shareholders on Monday that the two independent sale and purchase agreements would close before the end of November and would be subject to the usual commercial conditions.
“We are pleased to have executed two independent sale and purchase agreements with the same private equity buyer for both of our Permian projects,” said Antares CEO James Cruickshank.
“This represents another step forward in our Permian portfolio strategy of creating, developing, producing and realising value from our project assets. We look forward to closing both of these transactions.”
Antares would call a shareholder meeting shortly.
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