Quadrant Energy - forecasting and strategic planning

Quadrant Energy – forecasting and strategic planning

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Saturday 23rd April 2016

Delivering better forecasting and strategic planning

Client background

In June 2015, Brookfield Australia Investments Limited and Macquarie Capital acquired Apache Corporation’s offshore oil & gas portfolio for USD 2.1 billion. The business was renamed Quadrant Energy and in 2016 accounted for 22.3% of domestic gas production in Western Australia.

Apache Corporation is based out of Houston, Texas; and as such, operated a satellite office in Perth. The operations in Perth did not include adequate finance capability which made forecasting and strategic planning difficult. At the time of sale by Apache in 2015, a model for Quadrant Energy’s portfolio of assets did not exist, other than the acquisition model which was deemed not to be at the right level of detail for the consolidated entity.

In 2018, Santos acquired 100% of Quadrant Energy for USD 2.15 billion.

How Mazars supported the client

Quadrant Energy engaged Mazars to develop a driver based, operational model incorporating tax and accounting requirements. The model was developed to reflect existing tariff agreements and calculate post tax investor returns.

Mazars continues to work with Quadrant Energy by providing on-going financial modelling support until the sale of the business to Santos in 2018.

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Rickard Wärnelid Partner, Head of Deals, Financial Advisory Services & Energy, APAC

Rickard is the global head of Mazars Financial Modelling, developing financial modelling training programs all over the world. Prior to his +15 years with Mazars/Corality, he worked in Project Finance, Quantitative Fixed Income/Risk, VBA development and served in the Swedish air force. Rickard's academic background is in Physics (Stockholm) and Finance (Sydney).

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