Oz Leigh Creek Farms Into Queensland Permits
Leigh Creek Oil and Gas, a 100% owned subsidiary of Sydney-listed Leigh Creek Energy, has executed a farm-in agreement with Bridgeport Energy for ATP 2023 and 2024, Leigh Creek Energy said February 12 in a statement.
Leigh will acquire from Bridgeport a 20% participating interest in ATP 2023 and ATP 2024 (together with an option to acquire an additional interest in either of both permits) by satisfying the earning obligations in the farm-in agreement.
The company will fund 40% of first and the second-year permit activity and fund 20% of third and the fourth-year permit activity, Leigh said.
ATP 2023 and ATP 2024 are in southwest Queensland and provide opportunities for multiple conventional oil and gas plays, the company said.