Beach buys Lattice for $1.25 Bn

摘要

Beach Energy has agreed to acquire Origin Energy’s conventional oil and gas business, Lattice Energy, for US $1.25 Bn (A$1.59 Bn)?in a deal that will triple Beach’s reserves. Beach will fund the acquisition through a A$301m share sale and a new A$1.58 Bn debt facility, the company said in a statement Thursday. The agreement will boost Beach’s proved and probable reserves by 200% to 232m boe, while lifting its 2018 production guidance by 150% to between 25m-27m boe.