Origin Energy completes sale of Beetaloo interest

Origin Energy Limited (ASX:ORG) announced the sale of 100% of its interest in Beetaloo Basin joint venture to Tamboran (B1) Pty Limited.

Tamboran (B1) Pty Limited is an entity owned 50% by Tamboran Resources Limited and remaining 50% by its substantial shareholder, Bryan Sheffield. Tamboran (B1) Pty Limited will now assume operatorship of the Beetaloo Basin joint venture (77.5%) in partnership with Falcon Oil and Gas Australia (22.5%).

Origin has received net proceeds of AU$60 million plus a royalty contract covering future production over the life of field across ORG’s original interest in the Beetaloo Basin has been executed. Origin has also signed a gas sale deal which is conditional on a final investment decision being made as well as future development happening.

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