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APA Group Announces Sale of Orbost Gas Processing Plant to Cooper Energy

20 Jun 2022  |  12:39:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: APA sell Orbost Gas Processing Plant to Cooper Energy

APA Group announced that the Company has entered into binding agreements with Cooper Energy (COE) to acquire its Orbost Gas Processing Plant (OGPP) for between $270m and $330m via four instalments (Agreement). The upfront payment to the Company is $210m followed by a series of deferred payments as a first post-completion payment of $40m within 12 months of completion (being the date on which ownership of the OGPP transfers from the Company to Cooper Energy); a second post-completion payment of between $20m and $40m within 24 months of completion; and a third post completion payment of up to $40m within 36 months of completion.

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