Looks like a good deal for Macquarie. I suspect Magellan just desperately needs the cash.
We can't calculate the exact value without knowing the details of the bonuses but 2,500 boe/d is only 15 TJ/d or 5 PJ/yr.
10,000 boe/d is obviously 4 times that, 60 TJ/d.
15 TJ/d is a piece of cake for Mereenie and 60 TJ/d should be achievable long term when NEGI is operational. That doesn't even include oil which IIRC Mereenie is capable of producing around 500 bopd currently.
So I would say that looks like quite good value for Macquarie. Although I guess you have to keep in mind that Macquarie funded CTP's expansion for NEGI, so they might have a slightly biased opinion of the risk (i.e. they must think the risk is acceptable or they wouldn't have funded it). On the other hand, as part of financing CTP they would have wanted full consultation of CTP's plans to ramp up to certain rates, so they probably now have a better understanding of what the plan is for Mereenie than Magellan do, the ex-owners.
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