Beach Energy (BPT) investor relations material

Executive summary

• Quarterly production rose 7% quarter-on-quarter to 4.8 MMboe, driven by Perth Basin ramp-up and Waitsia Gas Plant nearing nameplate capacity.

• Revenue reached $419 million, with strong free cash flow and available liquidity of $974 million; net gearing reduced to 11%.

• Final investment decision made on Moomba Central Optimisation project, targeting completion in H1 FY29.

• Three new acreage awards in Queensland and South Australia expand East Coast gas and liquids portfolio.

Financial highlights

• Sales volumes were 5.3 MMboe, down 10% from the previous quarter due to fewer LNG cargoes.

• Sales revenue declined 6% quarter-on-quarter, offset by a 19% increase in realised oil price to A$125/bbl.

• Average realised gas price fell 6% to $11.2/GJ, reflecting lower demand and spot pricing.

• One LNG cargo delivered $54 million in revenue at $13.7/MMBtu.

Outlook and guidance

• FY26 production guidance revised to 19.4–20.3 MMboe (from 19.7–22.0 MMboe) due to weather and ramp-up impacts.

• FY26 capital and abandonment expenditure guidance unchanged at $675–$775 million and $200–$250 million, respectively.

• One LNG cargo, one crude, and one gas liquids cargo expected in Q4 FY26.