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Beach Energy ( (AU:BPT) ) just unveiled an announcement.
Beach Energy Limited, a prominent player in the energy sector, has announced the completion of conditions precedent for acquiring a 25% interest in PEP 171 from Vintage Energy Ltd. This acquisition is part of Beach Energy’s strategic expansion in the Otway Basin. The transaction, valued at $1.25 million, is pending regulatory and ministerial approvals. This move aligns with Vintage Energy’s strategy to focus on its Southern Flank gas fields project in the Cooper Basin and the Nangwarry Contingent Resource in the Otway Basin, indicating a shift in resource allocation to enhance its core projects.
The most recent analyst rating on (AU:BPT) stock is a Hold with a A$1.25 price target. To see the full list of analyst forecasts on Beach Energy stock, see the AU:BPT Stock Forecast page.
More about Beach Energy
Average Trading Volume: 6,910,987
Technical Sentiment Signal: Hold
Current Market Cap: A$3.09B
For detailed information about BPT stock, go to TipRanks’ Stock Analysis page.