Beach Energy Limited (AU:BPT) has released an update.
Beach Energy Limited has announced a delay in their Waitsia Stage 2 project, with first gas expected by early 2025 instead of mid-2024, and an increase in total capital expenditure from $450-500 million to $600-650 million due to additional quality issues. These setbacks have resulted in increased costs and the need for remedial works, slowing down the project’s progress. Despite the challenges, the company has lifted an LNG cargo in December 2023 and plans to lift another one in FY24 while working towards the project’s completion.
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