Highlights of the Beach Energy Quarterly Report

For the full year FY24, Beach Energy (ASX: BPT) reported producing 18.2 MMboe, a 6% increase from the previous quarter's output of 4.8 MMboe. Otway Basin output increased by 31% as a result of increased customer nominations and Enterprise's first gas. Sales revenue for the entire year FY24 was AU$1.8 billion, up 10% from the previous quarter to AU$433 million. Contribution from the second Waitsia LNG cargo was AU$59 million.

In Q4, the average daily sales gas from the Enterprise gas field was 130 TJ, indicating a satisfactory connection to the Otway Gas Plant. The Waitsia Gas Plant's pre-commissioning is moving along, with first gas expected in early CY2025. Decrease the free cash flow breakeven oil price to less than US$30/bbl through strategic assessment.

 

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