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Origin Energy Secures Increased Interest in Otway for Lattice Energy

11 Sep 2017  |  09:04:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: ORG secures increased interest in Otway for Lattice Energy

Origin Energy announced that it has entered into an agreement with Benaris to enable Lattice Energy to acquire Benaris 27.77% interest in the Otway Gas Project JV. The acquisition is expected to complete when Lattice Energy is divested. Under the terms of the agreement, Benaris 29.23% interest in the neighbouring T/30P Exploration JV and VIC/P43 Exploration JV will also be acquired. On completion of the acquisitions it will pay Benaris $190m adjusted to reflect an effective date of 1 July 2017. The acquisitions will increase Lattice Energy's interest in the Otway Gas Project JV to 95% and the Exploration JV to 100%.

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