Lattice Energy Sale Continues Encouraging Path of Debt Reduction
No-moat-rated Origin Energy has announced the previously flagged sale of Lattice Energy to Beach Energy for AUD 1.6 billion, or approximately AUD 1.0 billion when adjusted for transaction costs, the closing of an oil hedge, and the minority stake in the Otway gas project. Lattice Energy, which has been held for sale since late 2016, and has an effective sale date of July 1, 2017, contains Origin Energy’s noncore conventional upstream oil and gas assets. The sale price is in line with market esti...Origin Energy is engaged in the operation of energy businesses including: exploration and production of oil and gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas. Co. supplies energy to wholesale and retail energy markets in Australia and to the Asia Pacific region. Co. also has exploration and production operations in Australia and New Zealand, with exploration and production interests in the Otway, Bass and Cooper Basins in Australia, the Browse and Perth basins in Australia, the Bonaparte basin in north-western Australia, the Beetaloo Basin in the Northern Territory and the Taranaki and Canterbury Basins in New Zealand.
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