Beach, Mitsui Could Target Deal for MinRes Assets in Perth Basin -- Market Talk

Dow Jones10-21

2234 GMT - Macquarie speculates that Beach Energy and its joint venture partner in the Waitsia natural-gas field could pursue a deal to boost their position in Western Australia. It says that Beach and Japan's Mitsui could target Mineral Resources's energy assets in the Perth Basin to reinforce their position at Waitsia. That possibility is listed among several stock catalysts that include the start up of the Waitsia Stage 2 project, and growth in the Otway Basin of southeastern Australia. Still, Macquarie notes any deal with MinRes would likely have a negative impact on Beach's share price. It retains a neutral call on Beach's stock. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 20, 2024 18:34 ET (22:34 GMT)

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