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Business
Rising oil and gas prices have helped South Australian companies Beach Energy and Cooper Energy to an improved first half of 2021-22 despite falling production levels.
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News
South Australian oil and gas companies Santos and Beach Energy will push ahead with their $220 million Moomba carbon capture and storage project in the state’s north-east.
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The share price of SA oil and gas producer Beach Energy plunged almost 25 per cent in the first hour of ASX trade this morning, after the company announced an 18.4 million barrels of oil downgrade to its reserves in the north-east of the state.
Adelaide-based oil and gas companies Beach Energy and Cooper Energy have reported massive drops in profits for the first half of the financial year, citing low prices and investments in new projects for their lacklustre performances.
Adelaide-based oil and gas producer Beach Energy will pay $87.5 million to acquire all of Senex Energy’s Cooper Basin assets.
A US drilling company has sued Adelaide-based oil and gas producer Beach Energy for abruptly terminating a $US65 million ($A101 million) contract.
