Drillsearch Energy said the Federal Court of Australia has approved the company’s $277million merger with Beach Energy.
It comes after overwhelming support of shareholders was received at a meeting held at the end on June.
The firm said it now expects to lodge the final court orders with the Australian Securities and Investments Commission later today.
Drillsearch and Beach Energy are now working to complete the implementation of the merger.
Drillsearch chairman, Jim McKerlie, said: “On behalf of the Board, I’d like to thank Drillsearch shareholders for their support throughout the company’s journey from a junior explorer to one of Australia’s biggest onshore oil producers … This transaction allows Drillsearch shareholders the opportunity to participate in a bigger organization, well positioned for future growth.”