Beach enter Origin agreement

GAS exploration company Beach Energy has entered into a binding agreement with Origin Energy to acquire all shares in Lattice Energy Limited for $1.5b.

Beach – which already has a foothold in the South East gas mining sector – has described the acquisition as “transformational”.

According to yesterday’s announcement on the Australian Stock Exchange, the move will significantly enhance Beach’s scale and will create the leading ASX-listed oil and gas mid-cap with diversity of production and growth options.

Beach chief executive officer Matt Kay said the acquisition represented a significant milestone within its strategy to become a premier upstream oil and gas company.



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