Beach Energy Ltd
(ASX:BPT) has signed a gas sales agreement with Adelaide Brighton Cement Limited.
This contract is for the supply of processed sales gas from Beach Energy’s fully owned Western Flank acreage around the Cooper Basin.
Under the terms, Beach Energy will supply gas over a 12 month period, which is expected to commence on 1 January 2017.
The company says it will continue to sell liquefied petroleum gas to the South Australian Cooper Basin Joint venture.
Beach Energy is also expecting a material uplift in net revenue from its Western Flank gas acreage, after the Adelaide Brighton gas sale agreement commences.
Beach Energy posted a net loss of $589 million at 30 June 2016.
