Beach Energy (BPT) Q4 2026 earnings summary

Executive summary

• Quarterly production reached 4.9 MMboe, with FY26 full year production at 19.4 MMboe, reflecting strong operational momentum and safety performance, including 18 months recordable-injury free and no Tier 1 or 2 process safety events in Q4.

• Key operational highlights include increased output from the Perth Basin (up 15%), Otway Basin (up 4%), and Taranaki Basin (up 14%), driven by new plant contributions and high customer nominations.

• Major drilling campaigns in the Cooper Basin and Western Flank achieved high success rates, with notable oil and gas discoveries and cost-efficient well completions.

• The sale of VIC/L35 in the Otway Basin is set to deliver $70 million upfront and a production royalty, enabling capital redeployment to higher-return projects.

Financial highlights

• Quarterly sales volumes were 4.8 MMboe, down 11% from the prior quarter, generating $400 million in revenue (down 5% sequentially).

• FY26 full year sales revenue was $1.8 billion, 10% below the prior year, mainly due to lower oil and gas sales volumes and softer LNG pricing.

• Average realised oil price surged 39% quarter-on-quarter to $174/bbl, while realised gas price declined 1% to $11.1/GJ.

• One LNG cargo delivered $56 million in revenue at $14.8/MMBtu.

• Capital expenditure for the quarter was $241 million, up 91% from the prior quarter, with FY26 capex totaling $699 million.

Outlook and guidance

• Production from the Waitsia Gas Plant is expected to improve in Q1 FY27 as commissioning issues are resolved, with a statutory shutdown scheduled for September 2026.

• The company plans to focus on higher-return opportunities, including Western Flank oil campaigns, Perth Basin prospectivity, Otway nearshore targets, and the Taroom Trough.

• Full year results and FY27 guidance will be provided on 6 August 2026.