Senex and Beach reach free carry agreement

Ian Davies

Ian Davies

Senex Energy has reached an agreement with Beach Energy to transfer up to AU$43 million free carry commitment on the companies’ unconventional Joint Venture (JV) to Senex-operated oil assets in the western flank of the Cooper Basin.

The agreement follows Beach Energy’s recent acquisition of Lattice Energy that included the commitment to free-carry Senex for up to AU$43 million of investment, exploring for unconventional gas in the Cooper Basin.

The agreement will transfer the commitment to lower-risk, high-return oil opportunities on western flank permits ex-PEL104 and ex-PEL111 (Senex 60 per cent and operator, and Beach 40 per cent).

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