Beach Energy Limited
(ASX:BPT) saw total sales revenue slip 5 percent to $120 million in the March quarter due to lower realised oil and gas liquids price.
Production for the period ending 31 March 2016 increased 8 percent to 2.4 million barrels of oil equivalents.
Beach Energy said third quarter capital expenditure of $38 million was 51 percent lower than the prior quarter.
The oil and gas player advised that the merger with Drillsearch Energy was completed on 1 March this year and is expected to create annual cost savings of up to $40 million.
Beach Energy recorded a net loss of $600.1 million at 31 December 2015.
