Smooth sailing for Beach Energy as output increases
Beach Energy has reported a solid start to FY25, with production rising 10% quarter-on-quarter, driven by its successful projects in the Otway and Bass Basins.
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Beach Energy Limited
Beach Energy is an ASX listed, oil and natural gas, exploration and production company headquartered in Adelaide, South Australia.
Founded in 1961, we have operated and non-operated, onshore and offshore, oil and natural gas production from five producing basins across Australia and New Zealand and we are a key supplier to the Australian east coast natural gas market.
Beach’s asset portfolio includes ownership interests in strategic oil and natural gas infrastructure, such as the Moomba processing facility and Otway Gas Plant, as well as a suite of high potential exploration prospects.
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News
The financial tides of Beach Energy
Beach Energy (ASX:BPT) has flagged more asset impairments for the year to June 30, with the total bill topping $1.1 billion.
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Sweeping staff cuts at Beach Energy
Beach Energy (ASX:BPT), a prominent player in the oil and gas industry, has been grappling with significant challenges, including cost overruns and delays, at its Waitsia gas project in Western Australia. The company's recent announcement of sweeping staff cuts has underscored the severity of the situation, raising concerns among investors and stakeholders alike.
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Beach Energy records $721m write-down
In the six months to December, Kerry Stokes's 30%-controlled oil and gas producer, Beach Energy (ASX:BPT), faced a substantial setback, taking a $721 million write-down in the value of its Cooper Basin assets. The impairment, totaling $505 million after tax, led to a reported net loss of $345.1 million.
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Beach Energy changes CEO
Beach Energy (ASX:BPT) announced on 9 August that it had appointed Brett Woods as Managing Director and Chief Executive Officer.
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Policy Change for Beach to Unleash Franking
Beach Energy has made an important change to the company's dividend policy to allow it to start giving shareholders more of its half a billion plus dollars in unused franking credits.
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Beach Left Stranded in Warrego Battle
The Kerry Stokes-backed Beach Energy has abandoned the takeover battle for Warrego, leaving Gina Rinehart’s Hancock Energy seemingly in the box seat.
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Fancy Moves Put Strike Back in the Warrego Mix
Strike Energy has dealt itself back into the battle for Warrego Energy, using some fancy stockmarket dancing to grab a blocking 19.9% stake in the WA-based gas junior.
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Bourse Discourse: ARG, BEN, BPT
The pressure on companies this reporting season is higher than ever. Here’s how Argo Investments, Bendigo and Adelaide Bank and Beach Energy fared on Monday after announcing their results.
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Life’s a Beach, Life’s a Gas
The Kerry Stokes dominated Beach Energy yesterday revealed its best quarterly earnings off the back of the surge in global oil and gas prices since the Ukraine invasion in late February.
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