Highlights

  • Beach Energy reported statutory net profit after tax of A$281 million in FY2026.
  • Production reached 19.4 million barrels of oil equivalent.
  • Waitsia Stage 2 reached nameplate capacity during FY2026.
  • The company operates across several Australian and New Zealand basins.

Beach Energy Limited (ASX:BPT) reported FY2026 results with statutory net profit after tax of A$281 million. Revenue declined 14 per cent to approximately A$1.8 billion, while production reached 19.4 million barrels of oil equivalent, meeting the lower end of the company’s guidance range.

Directors declared a final fully Franked Dividend of 2 cents per share, taking FY2026 distributions to 3 cents, compared with 9 cents in FY2025.

Company Operations

Beach Energy is an oil and gas explorer and producer headquartered in Adelaide. The company operates across the Cooper and Eromanga basins, Otway Basin, Bass Basin, Perth Basin and Taranaki Basin in New Zealand.

Its development interests include Waitsia Stage 2 in Western Australia, the Offshore Gas Victoria project, the Enterprise project in Victoria and the Moomba carbon capture and storage venture in South Australia.

Recent Developments

Waitsia Stage 2 reached its 250 terajoule per day nameplate capacity in April 2026. The project contributed six LNG cargoes during FY2026, generating A$343 million of revenue.

The company reported that Western Flank production in the Cooper Basin declined by about 35 per cent year on year due to weather disruption and field decline.

Financial and Operational Position

Beach Energy reported positive free Cash Flow of A$146 million and net gearing of 10.6 per cent. Available Liquidity stood at A$983 million.

Proved and Probable Reserves were 156 MMboe at the end of FY2026, compared with 173 MMboe a year earlier.

Future Areas to Monitor

For FY2027, Beach Energy has provided production guidance of 19.5 to 23.0 MMboe and Capital Expenditure guidance of A$600 million to A$700 million.

Future updates may provide further information on Waitsia performance, drilling activities, reserve replacement and progress across development projects.

Risks

Beach Energy is exposed to oil and gas price movements, production changes, project approvals and operating conditions. The company also faces factors related to capital expenditure requirements and regulatory developments.

Key Insights

Beach Energy’s FY2026 results reflect a year of operational changes, including a return to statutory profit and the completion of key project milestones. Future performance will depend on production delivery, project execution and developments across its asset portfolio.