Deals - Joint Ventures
Bengal, Beach Join Forces for Cooper Basin Development
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Bengal Energy has agreed to form a strategic joint venture for the exploration and development of its 100% owned Tookoonooka Block (ATP 732) in the Cooper Basin of Australia with Beach Energy Ltd., an Australian energy company.
Highlights: Beach will fund Bengal's share of a two well drilling and 3D seismic exploration and appraisal work program to a maximum of AUD$11.5 million, in order to acquire a 50% interest in ATP 732; Bengal will have the benefit of Beach's extensive exploration, appraisal and development capability while maintaining a 50% interest in this large permit; Through the JV, Bengal is working with a major operator in the Cooper Basin with current programs in oil and unconventional gas exploration. This provides an excellent platform for future exploration success and…- ✓ Full news archive — U.S., Canada & international coverage
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