Beach Energy Limited
(ASX:BPT) and JV partner Blue Energy Limited
(ASX:BUL) have been granted two exploration permits in Queensland’s Maryborough Basin.
The oil and gas producers claim the area is relatively unexplored for hydrocarbons with only five wells drilled in the basin to date.
Blue Energy says the permits will place them in a dominant acreage position in the region.
Beach Energy posted a net profit of $164 million for fiscal 2012.
