One-Page Deal Sheet
Beach to Expand Cooper Basin Ops in Deal with Drillsearch
Beach Energy Limited Drillsearch Energy, Ltd.
Announced Date
July 28,2014
Transaction Type
Farm-In/Farm Out
Asset/Basin:
{"Cooper Basin"}
Transaction Details: Subscribe to see
Beach Energy Ltd and Drillsearch Energy Ltd have executed a farm-in agreement to explore for oil in ATP 924 within the Cooper Basin in Queensland.
The farm-in is a two staged process whereby Beach will fund approximately 150 km2 of current 3D seismic activities and drill an initial exploration well. Should Beach elect to continue beyond this initial well, it will drill a further exploration well and reimburse Drillsearch for past costs to earn its 45% interest, including other seismic operations being conducted by Drillsearch.
Documentation governing the potential future joint venture has…
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