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Beach Energy Limited (ASX:BPT)

ALERT: Price-sensitive ASX Announcement for BPT
Current share price for BPT : $0.910 -0.285 (-23.85%)+
Announcement
Release
28 Apr 2026 9:16AM
Price at Release
$1.195
Full Release
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Summary
Beach Energy Limited reported a 7% increase in production to 4.8 million barrels of oil equivalent (MMboe) for the third quarter of FY26, thanks to the ramp-up at the Waitsia Gas Plant. However, sales revenue declined by 6% to $419 million due to lower gas and gas liquids sales, despite a 19% rise in oil prices. The company maintained a strong liquidity position of $974 million and revised its production guidance to 19.4 – 20.3 MMboe, reflecting operational impacts from adverse weather. Additionally, Beach Energy has been actively involved in successful drilling campaigns, achieving a 100% success rate in the Cooper Basin JV and taking significant steps with the Moomba Central Optimisation project to streamline operations. New exploratory ventures in Queensland's Taroom Trough and the Cooper Basin were also highlighted for their potential to expand Beach's presence in the Australian gas market.
Key Points
  • Beach Energy's production increased by 7% to 4.8 MMboe quarter-on-quarter.
  • Strong performance from the Waitsia Gas Plant, reaching 94% of nameplate capacity.
  • Challenges included severe rains impacting production in Cooper Basin and Western Flank.
  • Sales revenue stood at $419 million, a 6% decrease from the previous quarter.
  • Average realised oil price rose by 19% to A$125 per barrel.
  • Liquidity increased to $974 million, with net gearing reduced to 11%.
  • Production guidance revised to 19.4 – 20.3 MMboe for FY26.
  • Successful drilling campaigns were conducted, with 100% success in the Cooper Basin JV.
  • Moomba Central Optimisation project aims to enhance infrastructure and production.
  • New acreage awarded in the Taroom Trough and Cooper Basin for future exploration.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.