Beach Energy Limited (AU:BPT) has released an update.
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Beach Energy Limited reports a 9% increase in sales revenue to $1.8 billion despite a production drop of 7% to 18.2 MMboe, attributing the rise to higher oil and gas prices and early Waitsia swap cargoes. The company also announced a dividend of 2.0 cents per share, maintaining a strong financial position with $437 million in available liquidity and intact production guidance. Amidst operational and safety achievements, Beach Energy targets a significant reduction in free cash flow breakeven oil price and is progressing in major gas projects and sustainability initiatives, including the nearing completion of the Moomba CCS for carbon injection.
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