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BPT, BEACH ENERGY LIMITED
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




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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
 
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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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

Said 'Thanks' for this post: nipper  
 


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




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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: Jul 24 2019, 05:12 PM
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QUOTE
Beach Energy has beaten expectations on full-year oil and gas production and cash flows after a June quarter that was deemed "very strong" by analysts and has revived expectations that it is eyeing further acquisitions.

The oil and gas producer ended 2018-19 in a net cash position, some two years ahead of expectations when it sealed the $1.585 billion acquisition of Origin Energy's conventional oil and gas operations less than 18 months ago.

Cash flow for the year to June 30 was $557 million, and Beach is now sitting on $172 million of net cash, which managing director Matt Kay described as "a strong performance" since completing the Lattice Energy purchase in March 2018.

"We will reinvest strongly in our base business because we have the opportunity set here to continue to grow," Mr Kay told The Australian Financial Review, describing Beach as "well positioned from a balance sheet perspective". "We are always on the lookout for new ventures and other opportunities as well, so we'll keep our eye out, but I don’t think there’s any desperation for us on the acquisition front."




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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: Jun 6 2019, 09:09 AM
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Could Beach Energy be in for ExxonMobil’s Victorian oil and gas assets?

QUOTE
JPMorgan analysts think so, tipping the Kerry Stokes-backed energy play as the most likely buyer of Exxon’s half-share of the Gippsland Basin joint venture with BHP.
After DataRoom revealed this week that Exxon may be looking for an exit, JPMorgan analysts said in a client note the Gippsland assets were a clear target for Beach, which is on the hunt for growth after the part-sale of its Otway assets.
- hope not



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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
 
blacksheep
post Posted: Feb 27 2019, 02:12 PM
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SP currently $2.06
QUOTE
A block of 1.9 million shares in Beach Energy traded for $2.075 at 11.48 am after someone spotted the stock was trading at five month highs. It also goes ex-dividend today. It looks like Deutsche Securities conducted an internal crossing.

https://www.shortman.com.au/stock?q=bpt
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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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