Perth Basin Alignment of Participating Interests with Mitsui E&P Australia

Source Press Release
Company Beach Energy LimitedMitsui & Co., Ltd. 
Tags Pipelines/ tankers/ distribution, Asset Deals, Deals, Upstream Activities
Date July 03, 2019

Beach Energy Limited (ASX: BPT, Beach) is pleased to provide the following update regarding the Perth Basin.

Beach advises that it has executed agreements with AWE (Beharra Springs) Pty Ltd, a related body corporate of Mitsui E&P Australia (MEPAU), to move to 50:50 ownership of production licences L11 and L22 (Beharra Springs), exploration permit EP 320 and pipeline licence PL 18 in the Perth Basin. The previous ownership structure for these permits was Beach 67% and MEPAU 33%. Beach will retain operatorship of the permits. The transaction has an effective date of 1 January 2019 and is expected to be completed during Q1 FY20, subject to satisfaction of various conditions including regulatory approval.

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Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd