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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Beach Energy Limited | ASX:BPT | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.045 | -2.88% | 1.515 | 1.665 | 1.38 | 1.555 | 1.515 | 1.545 | 6,433,030 | 07:03:04 |
From Jul 2019 to Jul 2024
Arrow Energy Ltd. (AEO.AU) said Monday that Royal Dutch Shell PLC (RDSB.LN) has indicated that it plans to exercise its preemptive right to take up a share of the Tipton West assets recently bought by Arrow from Beach Petroleum (BPT.AU).
In a statement, Arrow Energy said Shell will pay Arrow A$99 million to buy a further 12% stake in the Tipton West project.
Shell will also reimburse Arrow for 30% of any contingent payments, or up to A$21 million, that Arrow makes to Beach under the terms of the sale agreement between the two.
"This letter of intent marks another step in progressing the joint venture between Arrow and Shell as we mature our field development plans for first liquefied natural gas output at Gladstone by 2012," Arrow Energy's Australian head Shaun Scott said.
After completion of the deal, the Tipton West joint venture will be 70% owned by Arrow and 30% owned by Shell.
-By Lyndal McFarland, Dow Jones Newswires; 61-3-9292-2093; lyndal.mcfarland@dowjones.com
1 Year Beach Energy Chart |
1 Month Beach Energy Chart |
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