Cooper Energy’s set to brave wild equity markets and seek to raise $245 million fresh equity this week.
Cooper Energy’s set to brave wild equity markets and seek to raise $245 million fresh equity to buy APA Group’s Orbost gas processing plant this week.
The plant has been a serial disappointment for APA Group and Cooper Energy; Orbost’s flown under its target capacity of 68 TJs a day and, even after lots of tinkering, was only up to 55.7 TJs a day in May. Its decision to buy the plant will not surprise investors. Both APA and Cooper’s investors have long seen Cooper buying the Orbost plant as the best solution for both companies’ worries.
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