Commodities

Creating Australia’s third largest oil and gas producer

Principal acquisition of Apache Australia.

Sector Commodities
Sub-sector Oil and gas
Location Australia

Opportunity

A consortium comprising private equity funds managed by Brookfield Asset Management and Macquarie Capital acquired Apache Corporation’s Western Australian oil and gas assets for $US2.1 billion.

Apache Australia was renamed Quadrant Energy.


Approach

Acting on behalf of the consortium, the team worked with and gained the support of, the Apache Perth management team, which continues to lead the business.

The consortium also worked with Alcoa of Australia to develop a gas supply agreement to provide long term contracted cashflows, in addition to upfront funding to support the acquisition.

Outcome

Support

Support drawn from the broader Macquarie Group to put in place appropriate hedging arrangements, despite period of high volatility in global oil prices

Opportunities

Highlighted ability to assess the energy market for high quality portfolio opportunities of scale

Flexibility

Flexible use of capital to work quickly, preparing beneficial solutions for all parties

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