Billionaire Chris Ellison has joined the fray in the consolidation of onshore gas assets in the Perth Basin, launching a $403 million takeover bid for Norwest Energy..
MinRes wants to develop the Lockyer Deep project as quickly as possible and has ambitions to have a plant built and producing at a rate of 250 terajoules a day within two years. Mr Ellison said on Friday that MinRes had become one of Australia’s most successful companies through its ability to identify and act early on opportunities.“We started accumulating what is now the largest acreage position in the onshore Perth and Carnarvon Basins in 2015 with a clearly articulated strategy to lock in a low-cost, long-life energy supply for our operations,” he said.
Source: Energy Industry News (energyindustrynews.net)
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