Origin Energy
(ASX:ORG) has increased its interest in the prospective Beetaloo Joint Venture to 70%.
It comes after the electricity provider, acquired Sasol Petroleum Australia Limited’s 35% share in the company.
Origin Energy seized the opportunity to increase its interest in the Beetaloo JV in the Northern Territory (NT), after the discovery of a material shale gas resource in the Beetaloo basin was announced.
Origin Energy says the Beetaloo basin is the NT’s most prospective onshore basin for shale gas.
Shares in Origin Energy
(ASX:ORG) are trading about 2% lower to $7.36.
