Beach Energy (ASX: BPT) expects oil production of 17.5-21.5MMboe in FY25

Mon 15 Jul 24, 06:04 AM | Team Kalkine

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Highlights

Beach Energy is an onshore and offshore oil & gas production firm with five basins across Australia and New Zealand

In 1HFY24, BPT’s sales revenue increased by 16% YoY to AUD 941 million

Seven Group Holdings Limited has the maximum shareholding in the company with a shareholding of almost 30.02%

Established in 1961, Beach Energy Limited (ASX: BPT) is an Australia based oil and gas exploration company. The company has oil and gas production in five basins in New Zealand and Australia.

In the first half of the financial year 2024 (1HFY24), sales revenue of BPT jumped 16% YoY to AUD 941 million, underlying NPAT fell by 10% YoY to AUD 173 million and operating cash flow declined by 13% YoY to AUD 350 million. The period also recorded 11% YoY decrease in production due to lower gas nominations and 5% YoY rise in sales volume.

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