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Beach IDs 2017 Budget; Focus on Aussie Western Flank Assets
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Beach Energy Ltd. reported its guidance in relation to FY17 capital expenditure and production volumes.
Key Points: Capital expenditure of $180 – 200 million, with a strict focus on value accretive investment (comparable to Beach's 2016 budget of $184MM) Active program with greater discretionary allocation to Western Flank exploration Reduced capital allocation to the SACB and SWQ joint ventures Production volumes of 9.7 – 10.3 MMboe, expected to exceed FY16 levels Capital ExpenditureFY17 capital expenditure is expected to be within the range of $180 – 200 million. The program reflects Beach’s strict focus on value accretive capital allocation and is considered appropriately sized for the current oil price environment.
Approximately 55% of the FY17 program is discretionary…
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