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.
For further insights into AU:BPT stock, check out TipRanks’ Stock Analysis page.
