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The latest announcement is out from Beach Energy Limited ( (AU:BPT) ).
Beach Energy Limited reported strong results for the first half of FY25, with a 15% increase in production to 10.2 million barrels of oil equivalent. The company achieved significant growth in the Otway and Bass Basins, driving a 37% rise in underlying net profit after tax to $237 million. This performance led to a 50% increase in the interim dividend and strengthened the company’s financial position by reducing net debt by 33%. The completion of major projects like the Moomba CCS and the strategic initiatives, including a 30% headcount reduction, have positioned Beach Energy for future growth and sustainability. Looking forward, the company anticipates continued momentum with projects like the Waitsia Gas Plant commissioning and the Offshore Gas Victoria program.
More about Beach Energy Limited
Beach Energy Limited is a company operating in the energy industry, focusing on the exploration and production of oil and gas. The company is geographically concentrated in regions like the Otway Basin, Bass Basin, and Western Flank, with significant emphasis on increasing production and operational efficiency.
YTD Price Performance: 8.18%
Average Trading Volume: 1,699
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $2.16B
Learn more about BPT stock on TipRanks’ Stock Analysis page.
