Arrow buys Beach's GSG assets

Posted on 5/04/2009  

Beach Petroleum has sold its Queensland coal seam gas assets to Arrow Energy for $400 million, about 11 times what it s paid for them, The Advertiser reports. Arrow says the deal will simplify the structure of the Tipton West (near Dalby) joint venture and streamline its LNG strategy. “A number of groups, including Arrow and BG Group, are jostling for acreage in Queensland’s coal seam gas space to provide additional resources for planned LNG developments,” The Advertiser says.

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