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BRIEF-Beach Energy updates on merger with Drillsearch Energy

Published 24/03/2016, 11:19 am
© Reuters.  BRIEF-Beach Energy updates on merger with Drillsearch Energy
BPT
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March 24 (Reuters) - Beach Energy Ltd BPT.AX :

* Merger synergies approaching $30 million per annum; further cost savings expected

* Recurring annual cost savings of $28 million (pretax) identified; to be fully realised in FY 2017

* Headcount reduced by 56; expected headcount of 226 by 30 April 2016 "

* Convertible notes to be redeemed; net cost saving of $7 million per annum

* Net cost saving of $7 million per annum

* Says update in relation to its merger with drillsearch energy limited

* Source text for Eikon

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