Pangaea controls a 100% operated interest in EP(A) 167, 168 and 169 which lie in the McArthur and Beetaloo basins, south-east of Darwin.
A spokesperson for Pangaea told Upstream the deal gave EMG exposure in the permits where the US company will now fund its 18% share in a four-well campaign is currently planned.
EMG has almost $17 billion under management and has made headlines in the past couple years for its investments in companies affiliated with Aubrey McClendon’s American Energy Partners.
However,
