Exploration & Production | Top Story | Forecast - Production | Capital Markets | Capital Expenditure
Beach Edits 2016 Outlook; Lowers Budget, Ups Production Guidance
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Beach Energy Limited has announced the following revisions to production and capital expenditure guidance for the 2016 financial year (FY16), its liquidity position as at 31 December 2015, and anticipated non-cash impairment charges.
Production GuidanceBeach has revised its FY16 production guidance to 8.0 - 8.6 MMboe (from 7.8 - 8.6 MMboe). The narrowed range reflects outperformance in H1 FY16, with production of approximately 4.5 MMboe (net to Beach). Sustained production levels through H1 FY16 were supported by better than expected performance from the Bauer Field, new facilities at Stunsail and Pennington, and strong performance from both operated and non-operated gas fields. Lower production in H2 FY16 is expected due to natural field decline, well connection deferrals and reduced…
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