Chevron, Beach Energy seal Australian shale gas farm-in deal

05/13/2013 | Platts

Chevron has completed a farm-in deal for Beach Energy's shale natural gas assets in Australia's Cooper Basin. Chevron acquired a 30% interest in the PEL 218 permit from Beach for $36 million, and an 18% stake in ATP 855 for $56 million. The acreage "has the potential to be a material source of gas for both the eastern Australian domestic and international markets in the coming years," said Reg Nelson, managing director at Beach.

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