Beach Energy Ltd (ASX: BPT) 

Strong operating performance in June 2018 quarter: Beach Energy Ltd.’s (ASX: BPT) stock rose 1.66% on July 26, 2018 after the company delivered 10 per cent increase in production to 7.23 MMboe  during the June 2018 quarter versus the March quarter.
 
The increase in production is driven by increased output from the Cooper Basin JV (+12%), Otway Basin (+21%) and Bass Basin (+64%), offset by lower Western Flank (-2%) and New Zealand (-16%) volumes. The sales volumes grew 12% to 7.60 MMboe versus March quarter, due to higher production volumes and increased Cooper Basin sales volumes from shipment timing. The average realised oil price grew 11% to $103.2/bbl compared to the March quarter, which led to 20% increase in sales revenue to $471 million. In the June quarter, Liquids (oil, condensate, LPG) accounted for over 60% of revenues.
 
Moreover, the net debt reduced by $221 million to $639 million. The free cashflow increased to $149 million (excluding acquisitions) from $133 million in the March quarter. Meanwhile, BPT has completed the acquisition of additional interests in the Otway Gas Project and BassGas from Toyota Tsusho. Additionally, at the end of the June 2018 quarter, 1P reserves had increased by 152 MMboe (+405%) to 190 MMboe and 2P reserves increased by 239 MMboe (+320%) to 313 MMboe. In addition, for FY 18, the production was 18.8 MMboe, which is at the high end of guidance of 18.1 – 19.1 MMboe. The FY18 consolidated capital expenditure was $288 million, which is below prior guidance range of $294 – 324 million.
 
BPT stock has risen 18.30% in three months as on July 25, 2018  and is trading at a P/E of 9.12x at the market price of $1.84 and looks “Expensive” at this price.
 

Financial Performance (Source: Company Reports)

Disclaimer
 
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated pages are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.