Company news: Origin, Strike, WorleyParsons and more

PPO News provides you with a wrap of this week’s company news and movements in the Australian oil and gas industry.

With its half year results to be released on 15 February, Origin Energy expects to recognise an impairment for the Ironbark gas field of $360 million on a post-tax basis, after taking into account a downgrade in Ironbark reserves and a revised development plan.

Origin is also expecting to record a non-cash post-tax impairment charge of $173 million as a result of the sale of its non-core upstream oil and gas division, Lattice Energy, to Beach Energy last week.

The impairment comes as a result of recognising Lattice earnings from 1 July 2017 up to the 31 January 2018 completion date.

Strike Energy and Halliburton have entered a Memorandum of Understanding (MoU) to grant Halliburton first right of refusal for drilling services at the Southern Cooper Basin Gas Project (SCBGP) in South Australia.

The MoU covers first rights of refusal for integrated drilling, completion and stimulation services on commercial terms for the first 50 wells to be executed as part of the proposed Phase-1 50TJ/d development of the SCBGP.

WorleyParsons has signed a new engineering and project management agreement with QGC for three years with options for two additional one-year terms.

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