Contractor woes at Waitsia drive Beach changes
Beach Energy has appointed a new CEO, Brett Woods, as it faces the fallout from challenges at its Waitsia project.
Beach Energy
Valaris rig heads to New Zealand for Beach
Beach is working in the Taranaki Basin, where it intends to press ahead with phase 2 of the Kupe field development. This is in PML 38146.
Question mark over Beach’s LNG deal with BP as wells disappoint
Australia’s Beach Energy (ASX:BPT) has significantly cut estimated gas reserves at its LNG export project near Perth, Western Australia, by 11% following the Waitsia Stage 2 drilling campaign. BP (LON:BP) has an agreement to offtake the liquefied natural gas (LNG) volumes, which could be in doubt if the geology does not stack up as expected.
Beach Energy sign deal with BP to sell 3.75 million tonnes of LNG
Beach Energy (ASX: BPT) has signed a sale and purchase agreement with BP (LON: BP) for 3.75 million tonnes of liquid natural gas (LNG).
Australia’s plunge into energy crisis offers stark reminder for other governments
Eastern Australia is experiencing a severe power crisis, which is largely the result of poor government planning, and serves as a reminder to other nations of the dire consequences that stem from failing to develop a pragmatic energy policy.
Santos’ Australian CCS project gets investment nod, but critics pounce
Santos and joint venture partner Beach Energy have given final investment approval to proceed with the $165 million (A$220 million) Moomba carbon capture and storage (CCS) project in South Australia with start-up expected in 2024. But critics say Australian tax payers will be footing the bill for the emissions reductions effort and not the fossil fuel companies.
BP signs 5-year LNG deal with Australia’s Beach
BP (LON:BP) has signed a heads of agreement to buy 3.75 million tonnes per year (t/y) of liquefied natural gas (LNG) from Beach Energy’s (ASX:BPT) onshore Waitsia gas project in Western Australia’s Perth basin for a five-year term.
Woodside helps Australian offshore exploration spend hit 44-year low
Despite offshore exploration spending hitting a new low, drilling activities are expected to ramp up, with BP’s exciting Ironbark-1 well targeting a potentially giant gas deposit off Western Australia and Santos probing an exciting shale formation in Northern Australia
Asia Pacific M&A shake-up on the horizon
More assets are expected to hit the market across Asia Pacific this year following the sustained drop in global oil prices and the COVID-19 pandemic, which has destroyed energy demand growth as economic activity contracts.
Beach energy buys Origin’s Lattice in $1.25billion deal
Australia’s Beach Energy Ltd. agreed to buy Origin Energy Ltd.’s conventional oil and gas business, Lattice Energy, for A$1.59 billion ($1.25 billion) in a deal set to triple the Adelaide-based company’s reserves.
Beach Energy hits oil with Stunsail
Beach Energy today confirmed its efforts on the Stunsail Field resulted in a successful oil find.
Beach Energy flows first gas
Beach Energy has achieved first gas from its Udacha gas field in South Australia.
Rockhopper hammers out new $11.9million acquisition plan
Rockhopper Exploration has outlined the details of its fresh bid for Beach Energy’s Egyptian assets.
Beach pulls out of BMG gas joint venture
Beach Energy and JV partner Cooper Energy have accepted an offer to convert the Basker, Manta and Gummy gas field permits VIC/L 26, 27 and 28 in the offshore Gippsland Basin into retention leases.
Beach Energy’s new boss takes over earlier than planned
Beach Energy has appointed Matthew Kay as its new chief executive. Kay will take up the role on May 2, more than two months earlier than originally planned.
Drillsearch and Beach Energy merger edges one step closer
Drillsearch Energy said the Federal Court of Australia has approved the company’s $277million merger with Beach Energy.
Drillsearch shareholders approve merger with rival
The majority of Drillseach shareholders threw their support behind a merger with rival Beach Energy.
Beach Energy appoints new chief exec
Beach Energy has appointed a new chief executive to lead the company. Matthew Kay will take over from July with more than 25 years’ experience in the oil and gas industry.
Drillsearch shareholders set to approve takeover, AFR reports
Shareholders of Drillsearch Energy Ltd. look set to approve a A$384million ($266million) takeover of the Cooper Basin oil and gas producer in Australia by Beach Energy Ltd. later this month, the Australian Financial Review reported.
Beach Energy to takeover Drillsearch creating a $842million company
Beach Energy has agreed to buy Drillsearch creating an $842.7million energy company in Australia. The move comes amid a decline in oil prices and will create what could be the region’s biggest onshore oil producer and natural-gas supplier. Drillsearch has been valued at about $384million in the deal which its chairman says will help provide growth in the challenging market.
Beach Energy boss steps down
The chief executive of Beach Energy has resigned from the oil and gas firm. The company said Robert Cole will be replaced by Neil Gibbins on an interim basis until a new boss has been appointed.
Beach secures Cooper Basin permit
Beach Energy has bought a 40% operating interest in the highly prospective oil producing ATP 1056 permit in Queensland, Australia from AGL Cooper Basin, a subsidiary of AGL Energy, for $850,000.
Rockhopper strikes deal for Beach Energy assets in Egypt
Rockhopper Exploration has agreed on an asset purchase deal with Beach Energy that will give it a number of assets in Egypt in a $22million deal. The move will see the company gain a 22% interest in the Abu Sennan concession and a 25% interest in the El Qa’a Plain concession. Rockhopper said the headline consideration for the deal is $22million payable to Beach Energy through a combination of cash and the issue of the Rockhopper consideration shares.
Petroceltic exits Romania, sells unit to GVC Investment
Irish oil producer Petroceltic International said it sold its Romanian unit to GVC Investment BV as it exits high-risk exploration ventures.
Beach Energy sees Egypt interest spurring deal in coming months
Beach Energy Ltd. is making progress in efforts to sell its oil and gas holdings in Egypt and seeking to sign a deal in the coming months as the Australian explorer hunts for acquisitions at home. “That process is maturing,” Managing Director Rob Cole said Tuesday in a phone interview, referring to a proposed sale in Egypt. “We’re seeing interest, and I hope to crystallize something in the coming months.” Beach is searching for acquisition opportunities in Australia to take advantage of rising gas demand on the east coast, he said.