Beach Energy (ASX:BPT) second quarter production down 8%

Company News

by Rachael Jones

Beach Energy (ASX:BPT) quarterly sales volumes were down 8 per cent to 6,444 Kilobarrel Of Oil Equivalent on the prior quarter and 3 per cent on the prior corresponding quarter.

This was mainly due to downtime at the Otway Gas Plant, which was offline for 22 days due to planned maintenance, also unscheduled downtime at the BassGas and Kupe projects and natural field decline.

Second quarter total sales revenue decreased by 5 per cent on the prior quarter to $344 million due to lower sales volumes across all products.

Liquefied petroleum gas revenue increased 18 per cent due to a 32 per cent increase in realised LPG price.

Shares in Beach Energy (ASX:BPT) are trading 4.04 per cent lower at $1.78.