Citi Australian Investment Conference 15 October 2014 1
General overview 3
Cooper Basin acreage Prolific gross acreage of over 56,000 km2, generating 99% of production 4
Key facts about Beach ASX 100 company with a market capitalisation of A1.7 billion1 Largest Australian onshore oil producer Strong balance sheet with cash of 411 million2 Undrawn secured debt facility of 300 million FY14 sales…
Current snapshot Re-aligning strategic focus and moving key projects toward commercialisation Review of all international assets currently underway to refocus capital allocation over the medium term Three new oil discoveries on…
Asset portfolio Deep portfolio of low risk production and exploration assets, with transformational opportunities across diverse Australian basins 25 NTNG 20 SACB / SWQ JV - unconventional International 15 Bonaparte…
Actual and forecast production FY14 9.4 MMboe Production of 9.6 MMboe 9.6 MMboe to 8.6 MMboe Production mix: 46% gas and gas liquids, 54% oil 8.0 MMboe Cooper Basin oil production driven by: 7.5 MMboe Gas* Gas* 4.4 MMboe 4.4-4.9…
FY15 capital expenditure guidance Capex 3D Seismic Wells ( million) (km2) DEVELOPMENT Cooper Basin non-SACB/SWQ JVs 55 60 10 13 Cooper Basin SACB/SWQ JVs 270 300 70-80 International 10 3 Total Development 335 370 Up to 96…
Reserves and contingent resources 2P: 86 MMboe 2P and 2C: 552 MMboe Unconventional Gas and gas liquids Gas and gas liquids 67 MMboe 362 MMboe 2P reserves 86 MMboe Oil 19 MMbbl Conventional Gas and gas liquids 92 MMboe…
Eastern Australian gas market 11
Eastern Australian gas markets Strong predicted growth in Eastern Australian gas and Asian LNG demand Gladstone based export LNG projects have transformed the east coast gas market Projected gas supply is tight and demand strong The…
Prolific gas acreage strategically located Quality acreage footprints accessing multiple markets Prime unconventional gas acreage with transformational potential Gas liquids potential in most basins Multi-basin portfolio to…
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…
Western Flank Cooper Basin 15
Western Flank High net back for oil and wet gas Quick drilling rate High flow rate wells Excellent geological understanding Established infrastructure 250 kilometres of flowlines 10 facilities and 5 trucking points 40 oil wells…
Western Flank oil migration path 17
PEL 91 Beach 40% and operator, Drillsearch 60% Current gross production 12,500 bopd Bauer facility expansion from 50,000 bpd of fluid to 75,000 bpd in second half FY15 CKS fields expected on-line in first half and Stunsail,…
PEL 91 exploration successes The 14th and 15th new oil field discoveries at Burners-1 and Balgowan-1 Continuation of Namur oil play to the north-east of the Bauer, CKS and Stunsail oil fields Balgowan-1 intersected a nine metre…
PRLs 85 to 104 (ex PEL 92) Beach 75% and operator, Cooper 25% Current gross production 4,500 bopd Reprocessing of existing 3D seismic around the Callawonga and Butlers/ Parsons trends Nine wells planned for FY15 Net FY15 capital…
PELs 104 and 111 Beach 40%, Senex 60% and operator Current gross production of 5,000 bopd from Growler/Spitfire and Snatcher/ Mustang fields Historical focus on the Birkhead Formation, with the Martlet-1 new field discovery in the…
PELs 104 and 111 exploration success Martlet-1 exploration well the first Namur Sandstone oil discovery in PELs 104 and 111 Martlet-1 intersected net oil pay of six metres in the Namur Sandstone Commercial oil accumulations…
PEL 106 Beach 50% and operator, Drillsearch 50% Liquids rich operated production Gas sales agreement with SACB JV to March 2016 Current gross production of 12 MMscfd and 1,000 bbl per day LPG and condensate Three exploration…
Other Cooper Basin 24
ATP 924 Beach farming-in 45% with Drillsearch Permit area 2,300 km2 and located between the Inland and Cook oil fields Two stage farm-in process Beach to fund 150 km2 of current 3D seismic and drill initial exploration well Upon…
ATP 732 Beach farming-in 50%, Bengal 50% Large underexplored permit Located between the Jackson (50 MMbbl of oil produced) and the Kenmore/Bodalla (20 MMbbl of oil produced) oil fields Targeting conventional oil reservoirs Next…
PEL 94 and PEL 95 PEL 94 Beach 50% and operator, Strike 35%, Senex 15% PEL 95 Beach 50% and operator, Strike 50% Targeting deep coals at 1,500 metres 2,000 metres depth in PEL 94 Well costs 3 million Davenport-1 exploration gas…
SACB JV and SWQ JVs conventional gas 28
SACB and SWQ JVs Significant acreage with substantial reserves base 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…
Moomba processing facility Strategically located expandable facility Current daily capacity approximately: 300 TJ gas 35 kbbl oil/condensate 600 tonnes LPG Opportunities to process more third party gas being actively pursued…
SACB JV conventional gas Five rigs operating Focus on cost savings through multi- well pad drilling SIMOPS approach to fracture stimulation Targeted 30% capacity growth by 2015, leading to a step-change in cost reductions…
Unconventional gas Cooper Basin 32
Unconventional positioning Strategically targeted three key basins for unconventional acreage Cooper Basin activity: Nappamerri Trough Natural Gas with Chevron and Icon SACB JV unconventional REM and BCG plays Otway and Bonaparte…
The keys to unconventional success Well profiles the key focus on all projects Uncovering sweet spots with focused activity around them Process improvements and technology to drive efficiencies Costs to be driven down by…
SACB JV unconventional gas 35
SACB JV unconventional program 36
REM play Targeting the Roseneath Shale, Epsilon Formation, Murteree Shale and Patchawarra Formation Moomba-191 and -194 tied-in Roswell-1 and Moomba-192 vertical wells fracture stimulated and flow tested Moomba-193H: 1,000 metre…
BCG play Gaschnitz-1 ST1 vertical well: Seven zone stimulation over entire Permian section Produced at 1 MMscfd Completed and shut-in Remaining Gashnitz vertical wells for 2014: Two deep, targeting full Permian section One…
Nappamerri Trough Natural Gas 39
Nappamerri Trough Natural Gas Permian section equity interests: PRLs 33 to 49 (Beach 70% and operator, Chevron 30%) ATP 855 (Beach 46.9% and operator, Chevron 18%, Icon Energy 35.1%) Aerially extensive with permits covering more…
NTNG wells 41
ATP 855 stimulation program Hervey-1 Stimulated over five stages, flow testing commencing in coming weeks Etty-1 Up to four stages targeting the Toolachee and Daralingie Formations Redland-1 Up to four stages targeting the…
Timing of Stage 1 completion Envisaged that the decision point across the two permits will be synchronised Terms of the farm-in agreement signed in February 2013 as follows: South Australia PRLs 33-49 Beach to notify Chevron…
Exploration and appraisal cross section Note: Well locations are approximate only and may have been shifted to show their correct structural position on the cross section 44
Other Australia 45
Otway Basin Building a portfolio of onshore and offshore gas assets The largest growth profile of any Australian basin over the past year Onshore processing capability of 500 MMscfd Further conventional onshore drilling…
Bonaparte Basin EP 126, 138 (Beach earning up to 85%) 6,500 km2 high resolution airborne gravity and magnetic survey acquired, processed and interpreted Cullen-1 reached a total depth of 3,325 metres 54 metres of core recovered…
International 48
Egypt Abu Sennan El Salmiya-6 52 metres of net pay across an 89 metre interval in the primary target Kharita Sandstone El Salmiya-6 flow tested at 2,880 bopd and 9.7 MMscfd Gas development for El Salmiya to generate gas sales and…
Farm-out of Tanzanian acreage Woodside farming-in to 70% of the Lake Tanganyika South Block As part of the farm-in, Woodside will: Reimburse its share of back costs Fund a further round of seismic Contribute to Beachs share of…
Appendices 51
Financial results overview Outstanding financial results, with records achieved for sales volumes, revenue, operating cash flow and underlying NPAT FY14 FY13 Change Sales volume (MMboe) 10.8 9.0 20% Total sales revenue ( million)…
Growing corporate activity 2014 YTD Greatest activity in the listed oil and gas industry over the last four years 2011 2012 2013 YTD 2014 2,000 1,840 1,500 Equity Value Am 1,000 924 535 474 500 178 212 107 104…
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 PRLs 33 to 49…
SACB JV unconventional and infill wells Moomba wells - nomenclature Current Well Name Previous Well Name Purpose Status Roswell 1 Roswell 1 Vc 50 coal, REM, Microseismic Flowing from Vc 50 post frac Roswell 2 Roswell 2 Horizontal…
Contact Information Head office 25 Conyngham Street Glenside SA 5065 Tel: +61 8 8338 2833 Email: infobeachenergy.com.au Website: www.beachenergy.com.au Chris Jamieson Derek Piper General Manager Investor Relations Investor Relations…
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