"Santos Ltd says it is still keen to grow its coal seam methane business through acquisitions despite its bid for Queensland Gas Company (QGC) being blocked by the corporate watchdog.
Chief executive John Ellice-Flint said the oil and gas producer had been active in developing its organic coal seam gas plays in eastern Australia but is keen to grow the business through acquisitions.
"We successfully picked up Tipperary (Corporation) and bedded it down rapidly and got the benefits there.
"Acquisitions are definitely one part of our approach to grow," he said.
"We've got a hell of a lot of opportunity in our pipe growth businesses to continue and within eastern Australia coal seam methane we've got more opportunities and we've got capital to grow on the acreage we've currently got."
The Australian Competition and Consumer Commission (ACCC) said it would block Santos's $910 million takeover of QGC, citing reduced competition in the coal-seam gas market as one of its key reasons."
STO's comments could raise interest across whole CBM business.
SGL
ricegrowers limited
interesting quote in smh
Currently unlisted. Proposed listing date: MONDAY, 8 APRIL 2019 11:00AM ##