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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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.
Read MoreSweeping 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.
Read MoreBeach 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.
Read MoreBeach Energy changes CEO
Beach Energy (ASX:BPT) announced on 9 August that it had appointed Brett Woods as Managing Director and Chief Executive Officer.
Read MorePolicy 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.
Read MoreBeach 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.
Read MoreFancy 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.
Read MoreBourse 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.
Read MoreLife’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.
Read MoreBPT – Macquarie rates the stock as Underperform
Underperform maintained. Target is raised to $1.58 from $1.55.
Read MoreOil & Gas Outtakes: WPL, BPT
External pressures and the market’s bearish mood totally quashed any positive sentiment to be gleaned from upbeat quarterly updates released on Tuesday by Woodside and Beach Energy.
Read MoreBourse Discourse: BPT, BLD, AZJ, CAR
A busy old Monday session on the ASX with a bunch of news out from various companies and sectors. Here’s the latest from Beach Energy, Boral, Aurizon and Carsales.com.
Read MoreBPT – Morgans rates the stock as Add
The broker retains its Add rating and $1.71 target and believes the negative share price reaction provides a good share entry point.
Read MoreBeach Energy Looking to Amp Things Up
Beach Energy, 30% controlled by Kerry Stokes’ Seven Group, unveiled to the market in an investor briefing on Tuesday its ambitious target of lifting output by 13% a year between now and 2024.
Read MoreBPT – Credit Suisse rates the stock as Outperform
Outperform retained. Target falls to $1.50 from $1.96.
Read MoreBPT – Morgans rates the stock as Add
The broker maintains its Add rating and reduces its target price to $1.65 from $1.77.
Read MoreBPT – Morgans rates the stock as Add
The broker retains its add rating and lowers its target to $1.77 from $1.86.
Read MoreLife’s Suddenly a Bit of a Beach for Stokes
Suddenly Kerry Stokes has a problem in his business empire that won’t be cheap to fix, involving Seven Group Holdings’ 30+% stake in Aussie oil and gas explorer Beach Energy.
Read MoreBPT – Morgans rates the stock as Add
The Add rating is maintained and the target price decreases to $2.20 from $2.25.
Read MoreMore Gas For Beach Energy?
Beach Energy has found gas in its Artisan exploration well although other fields supplying Victoria’s Otway plant are considered more promising.
Read MoreBullish View Opens Up For Oil
A robust outlook for oil prices is emerging after a volatile and difficult 2020, as high levels of inventory are wound back and producers adjust to the absence of supply investment
Read MoreSenex Deal Sees Beach Energy Expand Cooper Basin Footprint
Shares in the Kerry Stokes-controlled Beach Energy jumped yesterday after it announced plans to buy Senex Energy’s assets in Cooper Basin for $87.5 million.
Read MoreBPT – Morgans rates the stock as Add
First-quarter revenue rose 13% (quarter-on-quarter), while total production was relatively flat, explains Morgans.
Read MoreDefining Moment Ahead For Beach Energy?
Several events in the near future are shaping up as critical for Beach Energy, and may even be transformational.
Read MoreBPT – Macquarie rates the stock as Upgrade to Outperform from Neutral
With Beach Energy’s share price down -15% since May, Macquarie notes the company has underperformed the energy sector on account of its reduced five-year free cash flow guidance.
Read MoreBeach Energy Paces Development
To ensure a healthy balance sheet Beach Energy has chosen to defer growth, re-configuring development expenditure to keep pace with the current market.
Read MoreBPT – Credit Suisse rates the stock as Outperform
Uncertainty prevails regarding the company’s upcoming FY21 guidance, Credit Suisse asserts, and this has weighed on the share price.
Read MoreBPT – Macquarie rates the stock as Outperform
March quarter revenue was weaker than Macquarie expected, driven by a lower realised oil price and lower-than-forecast production.
Read MoreBPT – Credit Suisse rates the stock as Upgrade to Outperform from Neutral
Credit Suisse observes the market appears to be doubting or fearing the FY20 capital expenditure guidance, after the stock slumped -11% versus its peers.
Read MoreLower Oil Prices Weigh On Beach Energy
Weak oil and gas prices bit Beach Energy’s earnings and shares in the six months to December.
Read MoreBPT – Credit Suisse rates the stock as Neutral
First half production was below estimates but this was more than offset by higher pricing and sales revenue. Credit Suisse is encouraged by the successful Bauer appraisal well which may support an upgrade to reserves.
Read MoreBPT – Credit Suisse rates the stock as Neutral
Beach Energy’s FY19 result met the broker, and FY20 guidance outpaced by 8% thanks to a stronger production target.
Read MoreRecord Result Sends Beach Energy Surging
The Kerry Stokes-dominated Beach Energy saw its shares jump 9% yesterday after it revealed a big jump in underlying profit for the year to June.
Read MoreBPT – Macquarie rates the stock as Neutral
The broker sees a risk in the WA domestic gas market remaining relatively well supplied by capacity increases at other projects, limiting Beach’s upside on the west coast.
Read MoreBeach, Origin Shares Slide Despite Strong Results
Solid quarterly updates from the two remaining energy groups yesterday for the three months to March in the shape of the Kerry Stokes-dominated Beach Energy and LNG exporter and power operator, Origin.
Read MoreEnergy Stocks Hit By Norway Exit
Shares in major ASX listed oil and gas groups were sold off yesterday after Norway’s huge sovereign wealth fund decided to sell billions of dollars of shares in energy groups.
Read MoreBPT – Credit Suisse rates the stock as Outperform
First-half results were ahead of estimates on the back of higher volumes and continued improvements in costs. Credit Suisse estimates the company could raise the dividend to $0.10 a share and keep gearing below 15% over the next five years.
Read MoreBeach Energy Surfs Energy Prices To Bumper Result
Kerry Stokes’ 25% owned oil and gas arm, Beach Energy’s profits and revenues surged in the six months to December as it continued to benefit from the purchase of Lattice Energy from Origin Energy in late 2017 and the brief surge in prices in the last quarter.
Read MoreBullish Beach Energy Lifts Production Guidance
Beach Energy shares jumped 6% on Thursday after it produced an upbeat December quarter and half year production report and upgraded its full-year production guidance by a solid 10% plus.
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