On 19 December 2017 Origin Energy Ltd reported that all conditions precedent, relating to the sale of its subsidiary company Lattice Energy Ltd to Beach Energy Ltd, have been satisfied. The deal is planned to be completed on 31 January 2018, with an effective data of 1 July 2017. Origin Energy reported that it had agreed to sell Lattice Energy to Beach Energy on 28 September 2017. Origin and Beach entered into a binding agreement for Beach to acquire all of Lattice Energyâs available shares for AUD 1,585 million with an effective date of 1 July 2017. Lattice holds exploration, development and producing assets across Australia and New Zealand. The transaction remains subject to New Zealand Overseas Investment Office (OIO) approval. Beach will fund the acquisition through an AUD 301 million, pro-rata accelerated non-renounceable entitlement offer and secured syndicated debt facilities. AUD 233 million of the entitlement offer is fully underwritten and the remaining AUD 68 million represents the pro-rata entitlement of Seven Group Holdings Ltd (SGH) - Beachâs largest shareholder. If SGH sub-underwrite the entitlement offer up to 68,260,311 new shares as proposed, its overall shareholding in Beach would rise from 22.73% to 25.73%. Eligible shareholders were invited to participate in the entitlement offer on 28 September 2017 which will provide 3 ânewâ Beach shares for every 14 âexistingâ Beach shares priced at AUD 0.75 per share. The entitlement offer will then be opened on 5 October 2017 for eligible retail shareholders to participate in the offer. The issue of ânewâ shares is expected to take place between 10 and 24 October 2017, prior to normal trading on 25 October 2017. The remaining AUD 1,284 million will be funded through secured syndicated debt facilities which represent refinancing of existing facilities.  Lattice participates in nearly 250 permits across the Bass, McArthur, Cooper-Eromanga, Bonaparte, Perth, and Otway basins in Australia, and Canterbury and Taranaki basins in New Zealand. Lattice operates around 40 producing fields and participates in further 260.  Beach reported that SGH is supportive of the transaction which is considered to add significant value to its shareholders. Beach reported that the acquisition will increase Beachâs 2P reserves by ~200% to 232 MMboe, predominately through the Cooper and Otway Basin projects. Production volumes will increase by 150% to 25-27 MMboe, predominately through the Cooper, Otway and Perth basin assets (estimated for FY2018). Beach will also gain significant increased exposure to the east coast gas and New Zealand markets.  As part of the deal, Origin has secured a large portion of Latticeâs future east coast gas production under long-term gas supply contracts along with AGL, Alinta in the west and Genesis Energy in New Zealand. In the Otway Gas and BassGas Projects, Origin has secured 100% of Latticeâs energy production share up to 2023 and 2020, respectively. In the Cooper Basin, 100% of Latticeâs energy production share has also been secured by Origin up to 2021 and 50% of which from 2021 to 2030. Background  Origin completed the transfer of a number of oil and gas acreage assets in Australia and New Zealand to spin off company Lattice Energy Ltd between 28 and 29 June 2017 as part of a strategic review. Origin will now focus more on the Energy Markets business. The assets include Originâs Otway and BassGas projects, located offshore Victoria. The projects include Speculant, Halladale, Thylacine, Yolla and Trefoil. In the Perth Basin, projects lie onshore and notably include the producing Waitsia field and Beharra Springs. Multiple Cooper Basin projects exclude the Santos operated Ballera natural gas project but includes all other Origin interests. Within the Bonaparte Basin, offshore assets include the Petrel and Marina discoveries, which could join the proposed Bonaparte LNG project. Finally, Origin planned to maintain its Beetaloo Basin assets but has transferred all permits to Lattice, including the Amungee North West, Kala South and Beetaloo West discoveries. In New Zealand, the Kupe Project in the Taranaki Basin has been transferred along with Canterbury Basin assets. Through the assets acquired, Lattice Energy gained access to a portfolio totalling around 4.7 Bboe in 2P reserves (on a gross project basis) across Australia and New Zealand. The transfer focus lay on producing, conventional assets with around 180 producing fields included in the transfer. Origin reported that as part of the strategic decision, it will be retaining its interest in the APLNG Project. Around 55 discoveries and 25 fields undergoing appraisal or development have been transferred but it does not include the Queensland Ironbark or its interest in the Browse Basin Poseidon field. Â  Â  Â  Â  Â 
New Zealand (Eastern Taranaki Mobile Belt (Taranaki B.)) Kupe