Hopetaft: Beach Energy Origin Assets

Beach Energy Origin Assets

Beach says the acquisition will triple its oil and gas reserves to 232m boe and raise its 2018 production guidance by 150 to 25m 27m barrels. Bpt is an oil and gas exploration and production company based in adelaide australia.

Australias Beach Energy Snares Origin Gas Assets For 125

Otway Basin Gas Today

650 Jobs To Go As Origin Energy Restructures Integrated Gas Unit

As part of the sale.

Beach energy origin assets. Beach energy limited asx. Beach energy buys origins lattice unit for 16bn. Formerly known as beach petroleum the company changed its name to beach energy in december 2009.

Australias beach energy has completed the a158 billion acquisition of lattice energy from origin energy. A 67 per cent interest in the otway gas project. Origin sells upstream oil gas assets to beach for 125 billion the assets.

Origin energy sells upstream assets to beach energy for 12bn. Beach will acquire gas assets spanning the otway cooper bass perth and bonaparte basins of australia as well as interests in new zealands kupe gas project and canterbury basin. Beach paid a completion payment of 1498 million on wednesday comprising the purchase price of a1585 million less adjustments of a87 million.

Beach energy buys origins lattice in 125 billion deal. It also includes stakes in the kupe gas project and the canterbury basin in new zealand. The decision to sell the unit comes after origin which was spun out of the australian conglomerate boral in 2000 announced a plan to spin off and float lattice in december.

Lattice energys assets comprise. The balance sheet pain across the bulk of the oil and gas sector has opened the door for beach energy to reclaim its position as australias mid tier producer with the adelaide based group striking a deal to buy origin energys conventional oil and gas assets for 1585 billion. Beach energy buys origin energy gas assets for 125b.

It is a component of the spasx 100 index of major australian companies. Australias beach energy has agreed to buy gas assets from origin energy ltd for 125 billion in a deal that will more than double the oil and gas producers output and step up its exposure to a. Cooper basin focused beach completed an all stock takeover of smaller rival drillsearch energy in 2016 amid an extended downturn in oil prices.

As part of the deal origin has secured access to a significant portion of lattice energys future east coast gas production to support its domestic gas business. Analysts at rbc capital see the deal as positive for origin as the company continues its debt reduction program and long term gas supply contracts. Beach energy buys origin assets for 16b.

Origin said that proceeds from the sale will be used to pay down debt.

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