Hancock Prospecting Advances $1.13B Perth Basin Energy Investment

Hancock Prospecting has completed its $1.13-billion acquisition of two Perth Basin oil and gas exploration permits from Mineral Resources, with an initial $780 million already paid and the remainder contingent on meeting resource thresholds at key drilling prospects.

The deal also establishes new joint ventures to explore additional opportunities in the Perth and Canning Basins, with Hancock funding future developments if jointly agreed upon. Mineral Resources will remain the operator, further solidifying collaboration between the two companies.

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