- CEO
- Brett Kenneth Woods
- Full Time Employees
- 483
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 80 Flinders Street Adelaide SA Australia 5000
- IPO Date
- Dec 31, 2010
- Business
- Beach Energy Limited, an ASX-listed oil and gas exploration and production company founded in 1961 and headquartered in Adelaide, South Australia, produces and sells wholesale domestic gas, liquefied natural gas (LNG), crude oil, condensate (including light and heavy naphtha), liquefied petroleum gas (LPG encompassing propane, butane and automix) and carbon dioxide from onshore and offshore operations across five basins in Australia and New Zealand, with core hubs in Eastern Australia (Cooper Basin, Otway and BassGas via Otway Gas Plant at 205 TJ/day and Lang Lang Gas Plant), Western Australia (Perth Basin via Beharra Springs Gas Plant at 25 TJ/day, Xyris Gas Plant at 30 TJ/day and Waitsia Gas Plant at 250 TJ/day nameplate capacity) and non-core assets including the Kupe Gas Project in New Zealand's Taranaki Basin (77 TJ/day capacity) and Middleton Gas Plant (22 TJ/day) on the Western Flank of the Cooper Basin; the company supplies approximately 16-19% of Eastern Australia domestic gas demand to retailers, power generators and industrial users, 2% of Western Australia demand, 7% of New Zealand demand, with crude oil primarily to Australian refineries and occasional international markets, condensate and LPG to Australian, New Zealand and Asian markets, and CO2 to local processors, while participating as a non-operated joint venture partner (various interests of 27.68-52.5%) in the Santos-operated Cooper Basin joint ventures including the Moomba Gas Plant (310 TJ/day) and Moomba Carbon Capture and Storage project (up to 1.7 Mtpa CO2 capacity). Beach Energy targets emissions intensity reductions of 35% by 2030 and net zero Scope 1 and 2 by 2050, with products supporting energy security amid declining coal power and intermittent renewables. In recent developments, the company completed construction and advanced commissioning of the Waitsia Stage 2 Gas Project (50% operated interest with Mitsui) targeting first gas in Q1 FY26 for domestic supply and up to 3.75 Mt net LNG exports via North West Shelf infrastructure under a multi-year SPA with bp, delivered five LNG cargoes from Waitsia generating $352 million revenue in FY25, acquired Prize Petroleum's Bass Basin interests in July 2024 boosting 2P reserves, connected Thylacine West 1 and 2 wells to restore Otway Gas Plant deliverability to nameplate with 64% production growth, commissioned and ramped up Moomba CCS injecting over 1 million tonnes CO2e, executed FY25 drilling campaigns including three Waitsia wells, Beharra Springs Deep 3 confirming reserves connectivity albeit with a 10.7 MMboe 2P revision, and achieved record FY25 metrics of 19.7 MMboe production (up 9%), $2.0 billion sales revenue (up 13%), $657 million pre-growth free cash flow (over 4x increase), $1.1 billion underlying EBITDA (up 20%), net debt reduction to $368 million with 10% gearing, 18% unit operating cost cuts, and a record fully franked 6 cps final dividend (full year 9 cps) amid Cooper Basin flood impacts up to 1.5 MMboe production loss and FY26 guidance of 19.7-22.0 MMboe output and $675-775 million capex focused on Equinox rig campaign for offshore Victoria (Hercules exploration, Artisan/La Bella development, interventions/abandonments), Western Flank 10-well oil program (H2 FY26 post-flood), Waitsia ramp-up to 90% utilisation, and Cooper Basin recovery/exploration.