Santos Ltd - acquisition of assets of Basin Oil Pty Ltd in the Cooper Basin (SA) and Gippsland Basin (VIC)
Summary
Santos Ltd announced on 17 February 2005 that it had acquired the assets of Basin Oil Pty Ltd in the Cooper Basin (SA) and Gippsland Basin (VIC).
File number
M2005/95
Industry
wholesale gas
Outcome
Not Opposed
Date completed
12th April 2005
Merger type
Horizontal
Market definition
Supply of gas at the wholesale level in the Cooper Basin and the Gippsland Basin.
Competition analysis
It appears unlikely that the acquisition will result in a substantial lessening of competition as Santos already has a 50% or greater interest in the Gippsland Basin assets in which Basin Oil has an interest (apart from an exploration permit in which Santos has an existing 33% interest), and already has a voting majority holding in the Cooper Basin.
