Beach Energy (ASX:BPT) grows revenue despite production fall

Company News

by Lauren Evans

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. 
 

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