Origin Energy Limited
(ASX:ORG) has inked a deal with with Armour Energy to sell dis-used facilities in a $13 million agreement.
Armour Energy is set to acquire assets on the Roma Shelf in the Surat Basin, Queensland.
The facilities at Kincora, south of Roma have been on case and maintenance by Origin since 2012 and will be recommissioned by Armour.
Financing the agreement with be executed via $10 million cash plus $3 million in deferred consideration, funded by current cash and available debt sources.
Origin Energy Limited noted a full-year net loss of $590 million.
