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Santos announced on August 24 that the GLNG partners had signed binding agreements to acquire all of the Greater Meridian coal seam gas project in Queensland. Santos would acquire 30% and become operator upon completion. The purchase remains subject to regulatory approvals and other consents, with closing targeted for late 2026.
Meridian, near Moura, contains 280 producing wells. Santos reported current project production of 47 terajoules per day, with approximately 90% supplying GLNG and the remainder going to Queensland Nitrates. These are project-level figures, rather than a production rate attributed to each well. The acquisition would turn an existing long-term supply relationship into equity production for the GLNG partners.
Separately, Santos said it had completed the sale of its 42.86% operated Mahalo interest to Comet Ridge. The two transactions have different completion status. Meridian’s existing producing base supports the purchase rationale, while potential development at Mungis remains a future standalone investment decision rather than approved new well output.