Beach Energy

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Beach Energy Limited (ASXBPT) is an oil and gas exploration and production company based in Adelaide, Australia. Formerly known as Beach Petroleum, the company changed its name to Beach Energy in December 2009.[1] It is a component of the S&P/ASX 100 index of major Australian companies.

Beach was established in 1961,[2] however for many years it was not very successful. After eventually making some discoveries in the Cooper Basin, Beach now holds interests in five producing basins across Australia and New Zealand, including the Cooper Basin, Bass Basin, Otway Basin, Perth Basin and Taranaki Basin.

In 2014 Beach Energy is the largest onshore oil producer in Australia.[3]

In March 2015, it was announced that incoming Beach Energy managing director Rob Cole will assume leadership of the company three months earlier than expected after freeing himself of commitments at his previous firm, Woodside Petroleum.[4]

In November 2016, Beach Energy announced a Western Flank oil discovery within the Poolowanna Formation in ex PEL 91 (Beach 100%).[5]

In September 2017, Beach Energy announced it would acquire Lattice Energy from Origin Energy for $1.585 billion, significantly increasing the company's operations portfolio.[6]

References[edit]

  1. ^ Beach-ATCO deal may lead to new SA gas-fired power plant The Advertiser, 8 December 2009. Accessed 20 July 2014.
  2. ^ [1] Archived 2011-07-06 at the Wayback Machine
  3. ^ Experts needed to develop new oil and gas prospects Sunday Mail, 2 August 2014. Accessed 3 August 2014.
  4. ^ "Beach Energy boss departing next week". Petro Global News. Retrieved 3 March 2015.
  5. ^ "Beach makes Western Flank oil discovery". NewsComAu. Retrieved 2 November 2016.
  6. ^ "Beach Energy buys Origin assets for $1.6b". SBSOnline. Retrieved 28 September 2017.

External links[edit]