Company news: Origin Energy
Origin Energy announced it is planning to spin off its conventional gas assets - including production and exploration fields in the Cooper Basin (SA/Qld), Otway (Vic), BassGas (Vic), offshore NZ, and Bonaparte, Waitsia and Beharra Springs (WA). Gas supply agreements will be established between the spun-off company and Origin.
The IPO is slated for 2017, and proceeds will be used to reduce Origin's debt. Post the IPO, Origin will comprise the electricity production and gas/electricity retailing business, as well as what will be know as Integrated Gas - the APLNG part ownership along with the associated unconventional gas production.