Beach Energy (ASX:BPT)
reported 5.3 million barrels of oil equivalent, down 7 per cent from the prior quarter, due to a combination of natural field declines and maintenance.
Quarterly revenue rose 3 per cent to $398 million, due to higher realised gas and liquids prices, supported by improving domestic and global product demand. This was partially offset by lower production volumes.
Beach’s liquidity climbed to $673 million with a net cash position of $73 million as at December 31.
Shares in Beach Energy (ASX:BPT)
are trading 7.1 per cent lower at $1.32.