Beach consolidates position in Cooper-Eromanga Basin

Beach Petroleum's position in the Cooper-Eromanga region has been consolidated after the company acquired Oil Company of Australia's entire southwest Queensland assets.

This included a 72.2 per cent interest in permits PL31, PL32 and PL47, a 69.59% interest in PL184, a 52.376% interest in ATP 269P and 0.5% interest in ATP 259P.

"Acquisition of these assets will substantially consolidate Beach's already strong position in the Cooper-Eromanga region, Australia's premier onshore oil and gas province," the company said. "The acquisition of a further 72.75% interest in the Kenmore-Bodalla oilfields will take Beach's interest in these fields to 94.75%, delivering immediate and significant gains in production volumes, revenues and profitability."

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