Under the agreement with Falcon Oil and Gas, Origin will increase its interest n the Beetaloo Basin JV to 77.5%.
The company has more than US$585 million of cash on its balance sheet and will continue to operate its business in the normal course without material disruption to its vendors, partners or employees.
BP has cut its 2020 spending plans by 25% and will reduce output from its US shale oil and gas business.
Origin Energy has temporarily paused shale exploration drilling activities at its Kyalla well site in Australia's Northern Territory in response to the Covid-19 pandemic.
The price war will heavily impact service company revenues, even driving some out of the market, according to Rystad Energy.
US natural gas production grew by 9.8 billion ft3/d in 2019, a 10% increase from 2018, according to the US Energy Information Administration.
A Rystad Energy impact analysis shows that US drilled but uncompleted wells will be the first assets to be threatened by the newly formed low price environment, as their breakeven costs are now only dollars away from market prices.