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. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.