Production and Revenue Growth
Production increased by 15% from the prior corresponding period. Sales revenue grew by 5% to approximately $1 billion, supported by LNG cargo deliveries.
Cost Reduction Achievements
The company achieved a 32% headcount reduction, surpassing their target of 30%. Unit field operating costs were reduced by 20%.
Improved Financial Metrics
Underlying EBITDA increased by 20% to $587 million, and underlying NPAT grew by 37% to $237 million. Operating cash flow was up 88% to $659 million.
Environmental and Safety Performance
Recorded no Tier 1 or Tier 2 process safety events and no environmental spills of more than one barrel, despite one recordable injury over Christmas.
Strong Liquidity and Gearing Position
Liquidity increased to $631 million, and net gearing reduced to 10%.
Successful Bass Basin Initiatives
Descaling initiatives resulted in an increase from 9 terajoules a day last financial year to over 25 terajoules a day in sales gas production.