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    Oz Beach Energy's Full Year Production Beats Expectations

Summary

Beach's full year production was 29.39mn barrels of oil equivalent.

by: Shardul Sharma

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Natural Gas & LNG News, Asia/Oceania, Security of Supply, Corporate, Exploration & Production, News By Country, Australia

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Oz Beach Energy's Full Year Production Beats Expectations

Australia’s Beach Energy July 24 said its production for the 12-months to June (FY2019) was 29.39mn barrels of oil equivalent, higher than full year expectations of 28mn boe to 29mn boe.

For the three months to June (Q4 2019), the company produced 6.97mn boe, down 4% quarter-on-quarter. Beach said Western Flank gas production was up 32% on the quarter after commissioning of the Middleton liquids handling expansion.

Beach’s full year revenue was A$1.9bn (US$1.33bn) while Q4 2019 revenue was A$501mn, up 7% quarter-on-quarter, the company said.

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