Key Highlights

  • Beach Energy reported FY26 production of 19.4 MMboe, underlying EBITDA of $1.0 billion and underlying NPAT of $355 million.
  • The Board declared a final fully franked dividend of 2.0 cents per share, bringing full year dividends declared to 3.0 cents per share.
  • FY27 guidance includes production of 19.5 to 23.0 MMboe and total capital expenditure of $600 to $700 million.

Beach Energy Limited (ASX:BPT) shares closed at $0.92 on 27 October 2026, up 1.10% in the session. The S&P/ASX 200 closed at 8,850.1 (+0.46%) and the energy sector index finished at 11,074.7 (+0.63%). Brent crude slipped 0.60% to US$115.15 as diplomatic efforts around the U.S.-Israeli war with Iran eased concerns about further regional escalation. Beach Energy is an Adelaide-based energy company that describes its core operations as East and West coast hubs, including the Cooper Basin, Otway Basin, Western Flank and Perth Basin, and supplies the domestic energy market.

Latest Development: FY26 Full Year Results

On 6 August 2026, Beach announced its FY26 full year results. Managing Director and CEO Brett Woods described the year as one of execution, noting that the Waitsia Gas Plant reached its nameplate capacity of 250 TJ/day in April. The company reported the following financial and operating figures.

  • Production of 19.4 MMboe and sales revenue of $1.8 billion, including six LNG cargoes that contributed $343 million.
  • Underlying EBITDA of $1.0 billion and underlying NPAT of $355 million.
  • Average realised gas price up 7% to $11.5/GJ, and field operating expense down 3% to $244 million.
  • All-in free cash flow of $146 million, with free cash flow breakeven outperforming the company's US$30/bbl target.
  • Available liquidity of $983 million and net gearing of 10.6%.

Latest Development: Operations, Reserves and Portfolio Changes

Beach reported a 100% success rate across nine oil appraisal and development wells in the Western Flank, seven of which are online, and said heavy rains delayed activity in Q3 FY26. The company said it is working with the Waitsia operator to address performance issues through the upcoming shutdown. Beach also completed the sale of the VIC/L35 permit, which it said allows more than $500 million of near-term capital to be redirected, while it retains economic exposure through a production royalty. As at 30 June 2026, 2P reserves were 156 MMboe, compared with 173 MMboe a year earlier, reflecting production of 19.4 MMboe partly offset by net revisions of 3.1 MMboe. 2C contingent resources were 174 MMboe. The company also reported 18 months recordable injury free across all assets, the Hercules exploration well and Artisan discovery in the Equinox rig campaign offshore Victoria, and the award of new Queensland acreage in the Taroom Trough. The final well to be decommissioned in that campaign, Yolla 1, was nearing completion.

Latest Development: FY27 Outlook and Guidance

The company outlined an FY27 program centred on drilling and project maturation. FY27 guidance covers production of 19.5 to 23.0 MMboe, total capital expenditure of $600 to $700 million, sustaining capital expenditure below $450 million, abandonment expenditure of $100 to $140 million, and depreciation and amortisation of $500 to $550 million. Planned activities include the remaining three Western Flank wells followed by an eight-well oil exploration campaign, a two-well Taroom Trough exploration campaign, and a two-well Perth Basin campaign targeting the Stawellia and Waitsia South prospects.

Risks and Catalysts on Watch

Items referenced in the release include:

  • A final investment decision on the two-well nearshore Otway drilling campaign is targeted in H1 FY27.
  • The company is targeting FID and commencement of the Waitsia Inlet Compression project.
  • The remaining Western Flank wells and the eight-well exploration campaign are planned to start in Q2 FY27.
  • Beach has referred to managing uncertainty associated with the Domestic Gas Reservation framework.
  • The Waitsia shutdown is intended to address operator-led performance issues, and the Annual General Meeting is scheduled for 11 November 2026 at 10.30am (ACDT).

Closing Summary

Beach's 6 August 2026 announcement set out FY26 production, earnings, dividends and reserves, along with FY27 guidance and a list of planned drilling and project milestones. The company stated that further information is contained in its 2026 Annual Report, which was released the same day, and that a results webcast was held on 6 August 2026 with Mr Woods and Chief Financial Officer Anne-Marie Barbaro.