Beach said on Monday it could potentially receive US$349 million (A$339.8 million) over two stages from Chevron for the transfer of up to 60% working interests in its PEL 218 permit in South Australia and ATP 855 in Queensland.
Under the deal, Australian subsidiaries of Chevron will acquire an initial 30% stake in PEL 218 for US$36 million in cash and will carry Beach for up to US$95 million in project costs.
