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BPT, BEACH ENERGY LIMITED
nipper
post Posted: Jun 3 2021, 06:36 PM
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In Reply To: nipper's post @ Mar 24 2021, 05:47 PM

first lift for Beach since the downgrade of the Western Flank oil reserves in late April
QUOTE
Lower production across Cooper Basin Western Flank oil and gas assets

Five-year outlook is withdrawn and Beach will no longer provide a five-year outlook in its current form.
New production and pressure data reduces overall 2P reserves of Western Flank gas fields
Net 2P reserve downgrade of 3.2 MMboe across seven other fields within ex PEL 106 due to new production and pressure data.

and that saw a decisive 20% fall in BPT shareprice. But as always, when the oil price goes up (increasing Brent crude oil price lifted 1.5 per cent to $US71.33 a barrel as OPEC and its allies stuck to their plan to cautiously bring back supply to the markets in June and July) so does the O&G sector.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Mar 24 2021, 05:47 PM
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In Reply To: nipper's post @ Dec 24 2020, 08:42 AM

Beach has found gas in its Artisan exploration well in the offshore Otway Basin, but indicated this is at the “lower end of pre-drill expectations”. Hence, broker analysts points out, as pre-drill expectations were not divulged, it is questionable whether this well will be developed. In contrast, the Enterprise discovery last year exceeded pre drill expectations so brokers expect this will fill ullage at the Otway plant along with a successful development at Thylacine and Geographe fields.

Beach Energy has a 60% interest in the Artisan field. Drilling has resulted in a gross gas column of 69.5m with 62.9m of net pay in the Upper Waare formation and 20.9m with 4.6m of net pay In the Flaxman formation.

The company is casing the well as a future producer and after completion will develop additional wells in Geographe and Thylacine. In field wells Geographe 4 and Geographe 5 are expected to deliver first gas in FY22. Another four wells in Thylacine are proposed.

Some commentators factor in an uplift to Otway production in line with guidance but only out to 2025 and expects, subsequently, Beach Energy will need to find more gas to keep the plant full.





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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Dec 24 2020, 08:42 AM
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Waitsia gas project has a Gas Processing Agreement at Woodside's Pluto Plant which will allow LNG processing of Waitsia gas. Ultimately another source of revenue for all involved.

Highlights
• The Waitsia Joint Venture has made a Final Investment Decision for the Waitsia Gas Project Stage 2 development, subject to certain regulatory approvals and commercial conditions.
• The WJV has finalised and signed key commercial agreements with the North West Shelf Project participants, the State of Western Australia and the Australian Gas Infrastructure Group.
• The WJV and Woodside Burrup Pty Ltd, with gas from the Pluto fields, become the inaugural third parties to sign binding commercial access agreements with the NWSPP.
• First equity Liquefied Natural Gas sales from Waitsia Stage 2 are expected to commence in H2 CY23.
• Total capital expenditure to first production of A$350 to 400 million net to Beach, fully funded from the Company’s existing cash flows and facilities.
• In alignment with the Government of Western Australia policy, approximately 60% of the project’s greenhouse gas emissions are planned to be reduced or offset during the project’s life.





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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Nov 10 2020, 10:49 AM
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Highlights
• A new gas discovery in the Victorian Otway Basin at exploration well Enterprise 1
• Preliminary net gas pay estimate of 115 metres in the Upper Waarre Formation
• Sampling indicates a low CO2 gas composition
• Well to be cased and suspended ahead of connection to the Otway Gas Plant
QUOTE
Beach Energy Limited (ASX: BPT) is pleased to announce a gas discovery at Enterprise 1 in licence VIC/P42(V) (Beach 60% and operator, O.G. Energy 40% interest) in the nearshore Victorian Otway Basin. Enterprise 1 was spud from an onshore location, 3.5 km from Port Campbell and 8 km from the Otway Gas Plant.

The well was drilled directionally using an extended reach drilling (ERD) approach to deliver a well with a 3.2 kilometre stepout, to target a location within the offshore permit VIC/P42(V). The well was successfully drilled to a total depth of 4,974 metres measured depth (MD) and encountered the primary reservoir target of the Upper Waarre Formation 89 metres high to prognosis at a depth of 4,594m (MD) (2,052 metres vertical depth sub-sea).

The well intersected 146 metre of gas column in the Upper Waarre Formation, including 115 metres of net gas pay with no gas/water contact identified. Sampling indicates a gas composition with 10% CO2 by volume.

- it is offshore so outside Dan's Ring of Steel, but drilled from land so no messy platform and pipeline configuration, let alone crew change dramas. And close to an existing gas plant. Trifecta.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 28 2020, 04:46 PM
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In Reply To: nipper's post @ Aug 17 2020, 10:13 PM

Beach Energy (BPT) has opted to defer growth and prioritise its balance sheet, ensuring it can withstand weak oil prices going into 2021. Brokers assess Beach Energy has reconfigured its development expenditure well, in order to reflect the current market.

FY21 production guidance is now below the prior target because of delays to the Otway Basin (Victoria) and Western Flank (Western Australia). Attributable production is forecast to grow to 37-40mmboe by FY25.

Guidance is lower than most brokers expected because of the deferred production at Otway and Western Flank and given the 2020 oil price decline. Still, around $2.1bn in free cash flow is expected to be generated over the next five years despite $3.3bn in cumulative capital expenditure.




https://www.sharecafe.com.au/2020/08/18/bea...es-development/






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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 17 2020, 10:13 PM
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Beach Energy saw annual profit fall 18 per cent on lower energy prices sparked by the COVID 19 slowdown, but it avoided writedowns and plans to send gas from its giant Waitsia field in Western Australia to the North West Shelf plant.

Underlying net profit after tax for 2020 fell to $461m from $560m, just ahead of a RBC forecast of $457m for the reporting period.

Revenue fell 17 per cent to $1.73bn while the oil and gas operator will pay a final dividend of 1c per share, steady on last year.

Beach, 30 per cent owned by the Seven Group, said underlying earnings before interest, tax, depreciation and amortisation fell 19 per cent to $1.108bn, after the company had guided to earnings marginally below $1.175bn.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 


nipper
post Posted: Oct 28 2019, 01:40 PM
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QUOTE
Beach Energy announced a new gas discovery at its 50 per cent owned Beharra Springs site north of Perth. The conventional gas discovery exists at a depth of close to 4 kilometres with an estimate net gas pay of 36 metres, the company said.

“Perth Basin is a key growth asset in the Beach portfolio," Beach Managing Director Matt Kay said. “The location of the Beharra Springs Deep-1 well, 450 metres from the Beharra Springs gas processing facility, provides an opportunity to conduct extensive deliverability testing whilst commercialising a portion of the gas.”




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 22 2019, 04:20 PM
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In Reply To: blacksheep's post @ Aug 22 2019, 03:32 PM

another one on a tear! (ripper not shedder)

Bedding down Lattice has been achieved ahead of time and under budget, as they say. Western Flank => drill, run poly pipe, produce; Repeat. And upside from gas production coming off contract into a sellers market.
Whether it breaks through a double top will depend on oil price as much as anything




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Aug 22 2019, 03:32 PM
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In Reply To: nipper's post @ Aug 19 2019, 09:54 AM

Updated chart below.

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Attached Image


 




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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

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nipper
post Posted: Aug 19 2019, 09:54 AM
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QUOTE
Strong FY19 sets the platform for FY20
• Production 29.4 MMboe, +55% vs FY18
• 85% drilling success rate in Beach-operated wells
• 204% organic 2P reserves replacement, 2P reserves life increased to >12 years

Financial strength
• Underlying EBITDA $1,375 million, +80% vs FY18
• Underlying NPAT $560 million, +86% vs FY18
• ROCE 27%3 up from 19% in FY18

Financial discipline
• Net cash position at 30 June 2019, achieved 2 years ahead of initial expectations
• $60 million synergy target met, $30 million operating cost reduction target on track
• Final dividend 1.0 cps

Accelerated investment begins in FY20
• 194 wells targeted with focus on Cooper Basin and Otway Basin (+45% vs FY19)
• 90% of growth projects commencing in FY20 deliver IRRs > 50%
• FY20 investment expenditure guidance $750 – $850 million
• FY20 production guidance 27 – 29 MMboe

Driving improved 5 year outlook
• 5 year production target increased to 34 – 40 MMboe (Prior: 30 – 36 MMboe)
• 5 year free cash flow target increased to $2.7 billion, over $1 billion FCF in FY24
• Additional $1.5 billion of value accretive investment opportunities identified




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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