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The latest update is out from Beach Energy ( (AU:BPT) ).
Vintage Energy Ltd, an Australian energy company, has signed contracts with Beach Energy for the sale of its entire 25% stake in PEP 171, located in the onshore Otway Basin, Victoria. The transaction, valued at $1.25 million, is part of Vintage’s strategy to focus on its Southern Flank gas fields project in the Cooper Basin and the Nangwarry Contingent Resource in the Otway Basin. The sale is expected to strengthen Vintage’s financial position, allowing it to prioritize immediate cash generation and expenditure requirements, and support the execution of its Production Uplift Program.
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
YTD Price Performance: -4.76%
Average Trading Volume: 6,717,293
Technical Sentiment Signal: Sell
Current Market Cap: A$2.96B
For an in-depth examination of BPT stock, go to TipRanks’ Overview page.