Beach Energy Inks Asset Sales Agreement With Senex For Cooper Basin Assets

November 03, 2020 05:14 PM AEDT
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Beach Energy Limited (ASX:BPT) acquires Cooper Basin asset portfolio from Senex Energy Limited (ASX:SXY) through an Asset Sales Agreement.

The acquisition by the Company is in line with its business strategy to expand footprints in the Cooper Basin.
Post the acquisition for a cash consideration of $87.5 million, effective from 1 July 2020, BPT will be the sole operator in the Western Flank and associated infrastructure.
The acquisition by the oil producer is immediately earnings accretive with identified synergies of $5 million per annum.

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