Beach Energy Buys Origin's Lattice in $1.25 Billion Deal

Beach Energy Buys Origin's Lattice in $1.25 Billion Deal
The agreement will boost Beach's proved and probable reserves by 200 percent.

The deal to buy Lattice comes nearly two years after Beach bought Drillsearch Energy Ltd. for A$384 million to increase its exposure to energy assets in central Australia's Cooper Basin.

Beach shares, which have declined 2.9 percent this year, remain in a trading halt while its share sale takes place Thursday and Friday. Origin shares rose as much as 2.7 percent in Sydney to A$7.65, before trading at A$7.53 at 12:45 p.m. local time. The benchmark S&P/ASX 200 index added 0.2 percent.

To contact the reporters on this story: Perry Williams in Sydney at pwilliams113@bloomberg.net, Ruth Liew in Sydney at rliew6@bloomberg.net.

To contact the editors responsible for this story: Edward Johnson at ejohnson28@bloomberg.net, Peter Vercoe

 


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