Beach Energy
(ASX:BPT) expects its 2013 profit to rise after the oil and gas producer posted a 15 per cent gain in production in the 12 months to the June 30.
Annual production was slightly above its guidance thanks to improved weather conditions compared to the same time last year.
Beach Energy has oil and gas assets in South Australia, Victoria the US and Egypt. The company’s shale gas assets in the Cooper Basin have recently shown a strong flow rate of production.
Beach Energy generated a net profit of $56 million in the first half of its 2012 financial year.
