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1/10/2018 — Oil and Gas
Beach presentation provides market lift

The share price of Australian oil and gas producer Beach Energy Ltd (ASX: BPT) lifted significantly late last week after a presentation to investors.

The share price on Friday lifted well over the $A2 mark and ended trading at $A2.14.

The investor briefing presentation took in addresses by several executives, including chief executive Matt Kay, chief financial officer Morne Engelbrcht, group executive- corporate strategy Lee Marshall and chief operating officer Dawn Summers.

Investors were told Beach’s production target by FY23 would be between 34-40 MMboe, up from FY18’s result of 19 MMboe and FY19’s forecast 26-28 MMboe.

The company was targeting more than A2.3 billion in five year cumulative free cash flow, and the company expected to be in a zero net debt position by FY20.

The company is achieving an improved production and exploration result following the debt-initiated purchase of the Lattice Energy assets of Origin Energy last year. This took in Australian oil and gas assets, and operatorship of the Kupe light oil and gas field in New Zealand’s offshore Taranaki Basin.

The presentation showed the growth of East Coast LNG markets in Australia where the potential cost of imported LNG from North America was detailed and was involved with three basins and infrastructure supplying East Coast gas.

Beach said the 50% owned Kupe project was important to NZ gas and LPG supply with a known 10 years operating life, and long term gas supply with Genesis Energy.

Kupe produces 50% of NZ’s LPG supply.

Beach said Kupe was expected to provide 10% of the company’s cash flow over the next five years.

PDF File Beach Energy Presentation (3.6 megabytes)
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