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).

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.

Merger type

Horizontal