Yep the Australian just confirmed this also.
MATT CHAMBERS39 MINUTES AGO | 9.24AM
Is Santos’ Narrabri CSG project on hold?
Santos appears to have put its $3.6 billion Narrabri coal seam gas project in NSW, one of the chief new potential sources of east coast gas, on the backburner as it targets a jump in annual production from its recent Quadrant Energy acquisition.
In a presentation to analysts today, Santos managing director Kevin Gallagher said last month’s agreed $3bn acquisition of Western Australia’s Quadrant Energy would underpin a nearly doubling of annual production by 2025 to 100 million barrels of oil equivalent.
This is nearly double Santos’s 2017 output and compares to the 79 million barrels of current combined Santos and Quadrant production.
But slides show Narrabri, in the Gunnedah Basin is absent from the growth plans.
“The recently announced acquisition of Quadrant Energy will further reduce our breakeven oil price and deliver operatorship of a high quality portfolio of
low-cost, long-life conventional Western Australian natural gas assets,” managing director Kevin Gallagher said.
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