Sept 21 (LNGJ) - Origin Energy, the Australian utility, has agreed to sell its 100 percent interest in its Beetaloo Basin shale gas assets in the Northern Territory. Origin said it was exiting its upstream exploration permits but would share any future profits and would retain its valuable Australia Pacific LNG stake in Queensland where it is upstream feed-gas provider and ConocoPhillips is the plant operator.
The Sydney-based utility said agreements had been reached to sell the Beetaloo assets to Australia’s Tamboran Resources and its partners for A$60 million (US$40.2M) and with a royalty on future production over the life of the field. “Origin has also executed a gas sale agreement for offtake of future gas production,” it added.
