April 7 (Reuters) - Origin Energy Ltd (ORG) :
- HAS AGREED WITH JOINT VENTURE PARTNER FALCON OIL AND GAS TO INCREASE ITS INTEREST IN BEETALOO BASIN JOINT VENTURE BY 7.5%
- UNDER AGREEMENT, ORIGIN WILL INCREASE ITS INTEREST TO 77.5%
- INCREASE IN INTEREST IN EXCHANGE FOR INCREASING ITS CARRY OF FALCON'S SHARE OF COSTS BY $25 MILLION OVER COMING YEARS
- IN ADDITION, ORIGIN AND FALCON AGREED TO CHANGES TO JOINT OPERATING AGREEMENT INCLUDING AMENDMENTS THAT PROVIDE ORIGIN AS OPERATOR
- EXPECTS A DELAY OF AT LEAST THREE MONTHS FOR KYALLA 117 WELL, WITH STIMULATION AND EXTENDED PRODUCTION TEST TO OCCUR IN H1 FY2021
- DRILLING OF VELKERRI FLANK WELL IS EXPECTED IN H2 FY2021
- IS ABLE TO DEFER EXPLORATION AND APPRAISAL ACTIVITIES BEYOND CURRENT STAGE 2 DRILLING CAMPAIGN
- ON 26 MARCH, IN RESPONSE TO COVID-19 PANDEMIC, ORIGIN CONFIRMED FORWARD OPERATIONS IN BEETALOO HAD BEEN TEMPORARILY PAUSED
News: ORG Origin Energy Says Agreed To Increase Interest In Beetaloo Basin Joint Venture
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