Exploration & Production

OG Oil & Gas to accelerate Beach’s Otway assets

OG Oil & Gas has farmed into 40% of Beach Energy’s assets in the Otway Basin to take advantage of the tightening gas market in eastern Australia OG Oil & Gas has farmed into 40% of Beach Energy’s assets in the Otway Basin to take advantage of the tightening gas market in eastern Australia.
By Sally Bogle 5 October 2018 0 32797
The Lang Lang gas processing plant in Victoria. (Origin)

Singapore-based OG Oil & Gas (OGOG) has farmed into Australia’s Otway Basin, becoming the latest international investor to enter the area in a bid to take advantage of eastern Australia’s tightening gas market. 

The deal, announced by Beach Energy during an investor day last week, will see privately owned OGOG farm into 40% of Beach’s assets in the Otway for A$344 million ($243 million) in cash. The deal is expected to help mid-cap Beach fast-track its supply of gas to Australia’s east coast, allowing it gain...