Companies & Finance

Private equity moves on undervalued Aussie assets

Harbour Energy’s new bid for Santos is likely to be the first of many private equity moves into the Australian market Harbour Energy’s new bid for Santos is likely to be the first of many private equity moves into the Australian market.
By Sally Bogle 6 April 2018 0 30315
A Santos drill rig in New South Wales. (Santos)

News that Santos, one of Australia’s largest oil and gas companies, is again being stalked by a United States-based private equity group comes as no surprise to industry observers, who say the Australian market is ripe for the picking.

Santos announced on Tuesday that it had received a new takeover bid from Harbour Energy, which is owned by EIG Global Energy Partners. The Australian company is considering the offer.

A number of factors are driving private equity interest in Australia’s oil and gas market....