Elixir Secures $205 Million Beach Energy Farmout After Strong Lorelle-3H Flows
Closing price · 2026-10-27: $0.058 · -9.38%
Elixir Energy reported peak Lorelle-3H flows of about 13 terajoules a day during the first phase of cleanup testing, with the well averaging about 7.5 terajoules an hour over its strongest reported hour. After the quarter, it agreed to farm out half its interests and operatorship across much of its Taroom Trough portfolio to Beach Energy in a deal valued at $205 million, including cash and a four-year carried work program intended to reduce Elixir’s funding needs while retaining acreage and upside. The company also raised approximately $5 million during the quarter and is progressing feasibility work on its Warkon Pilot.