Beach Energy snaps up Senex oil field stake for $87.5m
Elouise FowlerReporter
Updated
Senex Energy shares surged 7 per cent to 30¢ after signalling to investors on Tuesday the junior explorer is reducing exposure to volatile oil markets and shoring up its focus on the east coast gas market by selling down its Cooper Basin oilfield stake to Beach Energy for $87.5 million.
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Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office. Connect with Elouise on Twitter. Email Elouise at elouise.fowler@afr.com.au
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