Image: Transocean Equinox; Credit: 3D Oil
Johnson Winter Slattery (JWS) has advised Beach Energy Limited (ASX:BPT) (Beach) on the sale of its 60 per cent operated interest in petroleum production licence VIC/L35, including the Artisan gas discovery.
The interest will be acquired by Amplitude Energy Limited (ASX:AEL) (50 per cent) and O.G. Otway (10 per cent) for $70 million cash and a production royalty which will generate total payments of $140 million over the life of the field (based on the current 2C resource booking).
Completion of the sale is subject to satisfaction of customary conditions precedent.
Commenting on the deal, lead Partner Peter Smith said, “Congratulations to Beach for monetising its Artisan gas discovery and unlocking capital for its other key projects. It was a pleasure working with Beach’s experienced team in finalising the transaction documents.”
About Johnson Winter Slattery
JWS is a leading independent Australian law firm of more than 500 people, including 85+ partners, across Sydney, Melbourne, Adelaide, Canberra, Brisbane and Perth. The firm is engaged by major corporates and investment funds on their most challenging transactions and disputes.
Key legal contact
Peter Smith
Partner
T: +61 8 6216 7220 | M: +61 419 767 564
E: peter.smith@jws.com.au
Media contacts
Brenton Anderson
Marketing & Business Development Director
T: +61 2 9392 7414 | M: +61 423 986 512
E: brenton.anderson@jws.com.au
Angela Welsh
Marketing & Communications Manager
T: +61 2 9392 7454 | M: +61 414 281 902
E: angela.welsh@jws.com.au
