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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
Beach Petroleum Ltd. (BPT.AU) Friday said that it has agreed to sell its 40% share of the Tipton West coal seam gas project in Queensland state to Arrow Energy Ltd. (AOE.AU) for up to A$400 million.
Arrow, which already owns 42% of Tipton West, will pay Beach A$260 million cash and A$70 million in Arrow shares upfront.
An additional A$40 million will be paid to Beach pending the booking of additional reserves, another A$15 million if Arrow supplies gas to any liquefied natural gas project by the end of 2016, and another A$15 million if any of those projects produces at least one million tons of LNG per annum by the end of 2017.
On completion of the deal, 12% of Tipton West will be made available under preemptive rights to Royal Dutch Shell (RDSB.LN), Arrow said.
By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957; ross.kelly@dowjones.com
1 Year Beach Energy Chart |
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