Beach Energy Is a. Safety, people and environment first company Global oil and gas explorer and producer with unrivalled cash generation amongst its peer group Prudent portfolio manager Will seek to. Deliver consistent superior…
Company overview Key global operations ASX 100 company with a market cap A1.8 billion Largest Cooper Basin oil producer, sixth largest in Australia Strong balance sheet with cash of 348 million* Undrawn secured debt facility of…
Actual and forecast production FY13 Production: 8.0 MMboe 9.3 MMboe to Production mix: 53% gas and gas liquids, 8.7 MMboe 47% oil 8.0 MMboe Oil production up 34% due to: 7.5 MMboe Development, appraisal and exploration 6.6 MMboe…
FY14 Capital expenditure guidance Expected reserves Seismic Capex additions Wells ( million) 2D km 3D km2 MMboe DEVELOPMENT Cooper Basin non-SACB JV 60 65 10 13 Cooper Basin SACB/SWQ JV 175 200 35 45 International 10 15 6…
Key Australian activities 8
Key international activities 9
Reserves and contingent resources 2P: 93 MMboe 2P and 2C: 542 MMboe Gas and gas liquids Unconventional 71 MMboe Gas and gas liquids 2P reserves 319 MMboe 93 MMboe Oil 22 MMbbl Conventional Gas and gas liquids 113 MMboe…
Australian east coast gas market 11
Eastern Australian gas markets Eastern Australia Total Gas Demand Scenarios (PJ) Strong predicted growth in Eastern Australian gas and Asian LNG demand Gladstone based export LNG projects Eastern Australia Domestic Demand and…
Prolific acreage strategically located Beach is well placed to supply gas to Eastern Australia 13
Upstream and downstream dynamics Equity molecules to equity projects Suppliers creating new markets via downstream investments Vertical integration driven by both domestic and export opportunities Depending on volume and…
Gas pricing then and now Traditional gas pricing A price with CPI escalation and periodic price re-openers New gas pricing paradigm Clear shift to oil-linked pricing Driven by export opportunities Potential for hybrid pricing:…
Recent gas related transactions Origin Gas Sales Agreement: Signed April 2013 High value opportunities 139 PJ over eight years, potential to extend to 173 PJ over ten years PEL 106B SACB JV raw Gas Sales Quality counterparties…
Key commercialisation initiatives Cooper Basin Conventional: Delhi Petroleum (wholly owned Beach subsidiary) PEL 106B gas and gas liquids Nappamerri Trough Natural Gas: PEL 218/ATP 855 activities Various potential development…
The Cooper Basin 18
Cooper Basin acreage 19
The Cooper Basin Prolific acreage position Main oil and gas production, reserve and resource contributor to Beach Largest onshore gas producing province in Australia Australias third largest oil producing basin Established…
SACB JV and SWQ JVs 21
SACB JV and SWQ JVs Significant 20.21% in the South Australian Cooper Basin Joint Venture (SACB JV) and 20-40% in the South West Queensland JVs (SWQ JVs) Gross area covered by various joint ventures 26,800 km2 (6.6 million…
Moomba processing facility Strategically located expandable facility Moomba facility cumulative gross production to date of 6 Tcf Current daily capacity approximately: 300 TJ gas 35 kbbl oil/condensate 600 tonnes LPG Substantial…
SACB JV gas growth project Multi-well pad drilling, with four rigs expected to be operating by 2014 SIMOPS approach to drilling, completions and connections Production costs reduction target of 30%, to 9/boe, by 2015 30%…
SACB JV unconventional program SACB JV increasing focus on unconventional potential near Moomba Net capex of 32 million planned for FY14 REM play Moomba-191 vertical well fracture stimulated over three stages and producing…
Nappamerri Trough Natural Gas 26
Nappamerri Trough Natural Gas Sizeable footprint of 800,000 acres for PEL 218 and ATP 855 Significantly underexplored area off-structure Off-structure drilling has delivered: Gas saturated sections 1,000 metres Gas flow from all…
Exploration and appraisal cross section 28
Vertical exploration 13 wells drilled across the two permits (ten in PEL 218, three in ATP 855), testing: Areal distribution of sandstone Overpressure Sensitivity to structural position Fracture stimulation campaign: Seven wells…
Horizontal exploration Two well program in PEL 218 Holdfast-2 drilled laterally into the Murteree shale Stimulation awaiting specialised micro-seismic tools Boston-3 horizontal well rigging up adjacent to Boston-2 Boston-3 to…
Well summary PEL 218 Total Depth Gas Saturated section Stimulation Peak flow rate Well (metres) (metres) stages (MMscfd) Holdfast- 1 3,497 600 7 2 Encounter- 1 3,616 600 6 2.1 Moonta- 1 3,810 1,000 10 2.6 Streaky-1 3,821 1,000 9…
Well summary ATP 855 Total Depth Gas Saturated section Stimulation Peak flow rate Well (metres) (metres) stages (MMscfd) Halifax- 1 4,266 1,300 14 4.5 Hervey- 1 4,269 1,500 12* Feb-14 Geoffrey-1 TBC TBC TBC TBC Redland-1 TBC…
NTNG look back and look forward Confirmation of resource Vertical and horizontal Pilot production Pilot development potential exploration phase appraisal phase implementation 2010-2012 2012-2014 2014-2015 2015-2016 Determine…
NTNG proposed timeline Note: Timeline subject to third party equipment delivery and joint venture approval Transitioning to pilot production phase in FY15 34
Western Flank 35
The Western Flank Key facts High net back for oil and wet gas Quick drill and tie-in High flow rates Excellent understanding of the geology Established infrastructure 1,200 km2 of 3D seismic FY14 targets Net production target in…
Western Flank infrastructure Oil infrastructure 250 kilometres of flowlines 10 facilities and five trucking points 30 oil wells on production Lycium Hub: Oil received from three facilities via 180 kilometres of flowlines Export…
Average net production Last four months in excess of net 10,000 boepd from the Western Flank 38
PEL 91 Beach 40% and operator, Drillsearch Energy 60% Gross production 10,000 bopd, with further wells to be tied-in Advanced 3D seismic interpretation techniques being utilised to increase understanding of the mid-Birkhead play…
PEL 92 Beach 75% and operator, Cooper Energy 25% Gross production of 5,500 bopd Callawonga-7 and -8 development wells, expected on-line September 2013 FY14 capital program Five exploration/appraisal and four development wells…
PEL 104 and PEL 111 Beach 40%, Senex Energy 60% and operator Focus on the Birkhead formation Gross production of 4,300 bopd from Growler and Snatcher fields FY14 capital program Anticipated program of 18 wells, of which 11 will…
PEL 106B and PEL 107 PEL 106B Beach 50% and operator, Drillsearch Energy 50% First production in FY12 from the Middleton /Brownlow production licence Commercial discussions successful in establishing extended gas sales through to…
International 43
International operations Romania Provides long-term growth Offshore oil and gas options First well recently spudded Targeted and disciplined Favourable fiscal regime approach to key attributes: Egypt Technical Production growing…
Egypt Country status Recent history of political volatility and unrest Business as usual from an operations standpoint Growth potential Targeting 20+ MMbbl oil prospects Returns of 10-20 per bbl, depending on fiscal terms Beach…
Abu Sennan Concession Beach 22%, Kuwait Energy 50% and operator, Dover Investments 28% Eight exploration wells drilled, five successful, one drilling ahead Combined total gross flow rate from four wells of 12,300 boepd (gross) New…
Abu Sennan 3D seismic line NW SE Appollonia Top Khoman Base Khoman Bahariya Kharita Alamein Dol Jurassic Initial drilling campaign encountered shows/pay at all named formations except Jurassic Cross fault…
El Salmiya-2 Kharita Formation: log analysis Oil water 49 metre vertical column, 82% net to gross contact Operator estimates 2P reserves of 18.5 MMbbl of oil and 142 bcf of gas Excellent sandstone, flowed at 3,530 bopd on test…
NS 377 and NS 385 Beach 20%, BP 50% and operator, Tri-Ocean 30% Shallow Miocene sands draped over older highs On-shore to off-shore developments NS 377 field steady at 700 bopd (gross) NS 385-1 field: Current gross production of…
Burtocal development Drill well from proposed NS 394 platform location Test NS 394E prospect Success suspend and install platform Failure sidetrack to NS 394 discovery, suspend and install platform Prospect Conceptual monopod…
Tanzania Lake Tanganyika South Block Natural oil seeps indicate a working petroleum system South block area 7,200 km2 Aeromag and gravity surveys completed 2,080 kilometre 2D seismic survey completed in August 2012 Farm-out…
Indicative exploration targets 18 prospects and leads generated from high quality 2D seismic 52
Romania Est Cobalcescu block Est Cobalcescu: Beach 30%, PetroCeltic 40% and operator, Petromar 30% Area of 1,000 km2, with 3D seismic coverage Water…
Other Australian assets 54
Bonaparte Basin Underexplored with conventional and unconventional targets 55
Otway Basin Existing infrastructure and history of producing fields 56
Appendices 57
FY13 Overview Financial Record underlying net profit after tax (NPAT) of 141 million Record revenue of 700 million Operating cash flow of 264 million Cash balance of 348 million Full year dividend of 2.75 cps Corporate Chevron…
FY13 Overview (cont.) Operations Australias sixth largest oil producer Production of 8.0 MMboe, up 7% Western Flank oil flowlines installed and operational Nappamerri Trough Natural Gas (NTNG) exploration and appraisal milestones…
Look forward FY14 expectations A oil to remain strong Seek to maintain throughput of Western Flank oil flowlines at maximum available capacity Ongoing NTNG exploration and appraisal phase, transitioning to pilot production…
Record underlying NPAT Record FY13 underlying NPAT of Underlying NPAT 141 million 141 million, driven by: 122 Strong A Brent oil price million Increased oil in the sales volume mix Oil development, exploration and appraisal…
Sources and uses of funds FY14/FY15 348 million cash on hand (as at FY14/FY15 1600 30 June 2013) Sources and uses of funds* 1400 Secured 320 million debt facility Undrawn Increase in final dividend to 2 cents per 1200 facilities…
FY13 Production by area Change Area FY13 FY12 % Cooper/Eromanga 3.6 2.8 31% Basins Egypt 0.13 0.02 545% Oil (MMbbl) Williston Basin 0.01 0.02 (45%) Total Oil 3.7 2.8 34% Sales gas and ethane (PJ) Cooper Basin 20.5 23.0 (11%)…
New ASX Listing Rules 1P 2P 3P 2C Oil (MMbbl) 10.4 22.0 42.2 Gas and gas liquids (MMboe) 30.8 70.7 146.4 Oil (MMbbl) 17.1 Conventional gas and gas liquids (MMboe) 112.9 Unconventional gas and gas liquids (MMboe) 318.9 Total…
Chevron transaction summary Subject to joint venture approvals, the key work program elements envisaged across the two permits involve an initial exploration program to be followed by pilot production programs PEL 218 potential…
Contact Information Head office 25 Conyngham Street Glenside SA 5065 Tel: +61 8 8338 2833 Fax: +61 8 8338 2336 Website: www.beachenergy.com.au Chris Jamieson General Manager Investor Relations Tel: +61 8 8338 2833 Mob: +61 8…
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