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Beach Energy plunges to $79.1m loss on write-downs

2015-02-23 07:47:47| Energy - Topix.net

Chevron's exit would deprive Beach of about $77 million of cash payments plus funding for further drilling, and would harm sentiment around the prospects for unconventional oil and gas in Australia as a whole. The future of Beach Energy's shale exploration venture with Chevron is hanging in the balance as the US oil giant mulls whether to proceed with a second stage of drilling in the Cooper Basin.

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