Beach Energy (BPT) Q1 2026 earnings summary

Executive summary

• Achieved an 8% quarter-on-quarter production increase to 5.0 MMboe, driven by higher output in Otway and Cooper Basins and successful flood recovery efforts.

• Sales volumes rose 15% to 6.8 MMboe and sales revenue increased 18% to $537 million, supported by two Waitsia LNG cargoes and higher gas prices.

• Waitsia Gas Plant commissioning nearly complete, with first sales gas expected imminently and no technical issues impacting timeline.

• Over $500 million in available liquidity at quarter-end after returning a record $137 million in dividends to shareholders.

Financial highlights

• Sales revenue up 18% quarter-on-quarter to $537 million, with average realised gas price up 8% to $11.7/GJ and oil price up 2% to $113/bbl.

• LNG revenue of $121 million from two cargoes sold at $15.1/MMBtu.

• Capital expenditure of $166 million, including $60 million for abandonment activities.

Outlook and guidance

• Waitsia Gas Plant first sales gas expected within weeks, with production ramping up to 90% of nameplate capacity over four months.

• Western Flank 10-well appraisal and development campaign to commence in late-Q2 FY26, subject to flood conditions.

• Flood recovery in Cooper Basin to continue into Q2 FY26.