Chevron Inks $349M Deal For Australian Gas Rights

Law360, Los Angeles (February 26, 2013, 12:07 AM EST) -- Chevron Corp. has agreed to pay Australian energy firm Beach Energy Ltd. $349 million for the right to explore for natural gas in two blocks located in Australia’s Cooper Basin, Beach said Monday.

Beach will transfer to Chevron up to 60 percent of its interests in two blocks in South Australia and Queensland for up to $349 million over two stages, the company said in a statement.

In the first stage, Chevron will pay Beach $36 million in cash and $95 million in costs for a...
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