Companies & Finance

Beach builds gas presence with Lattice acquisition

The purchase will help Beach switch focus from oil to gas and may relieve Australia’s east coast gas shortage, analysts say The purchase will help Beach switch focus from oil to gas and may relieve Australia’s east coast gas shortage, analysts say.
By Sally Bogle 5 October 2017 0 27858
Cooper BAsin drill rig A Beach Energy drill rig in the Cooper Basin. (Beach Energy)

Beach Energy’s acquisition of Origin spin-off Lattice Energy could help free up more gas for eastern Australia’s tight domestic market, a senior analyst has told Interfax Natural Gas Daily.

Matt Howell, senior research analyst for the Australasian upstream sector at Wood Mackenzie, told Interfax Natural Gas Daily that, although Beach formerly focused on exploring for and developing onshore oil, the Lattice deal will see its new owner becoming far more gas-focused. Gas production will increase from around 45% of Beach’s output to more than 65%, Howell...