Commonwealth Gas Acceleration Program News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Raquel Mustillo
BEACH Energy will indefinitely suspend operations at the recently redeveloped $22m Katnook Gas Plant next financial year following declining gas volumes at its Limestone Coast wells.
In a statement to shareholders, Beach said production in the South Australian Otway Basin had decreased by 23pc – 57 thousand barrels of oil equivalent (kboe) – with shares plummeting 24.1pc pc to $1.28 on Friday – the lowest since November last year.
The gas plant, which was funded by a $6m contribution from the Federal Government’s Gas Acceleration Program, was commissioned in January last year and processes raw natural gas from the nearby Haselgrove-3 well. ....

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