Skip to main content 2017 FY Half Year Results – Beach Energy Limited Investor Presentation | Shale Experts
Loading...
Pm

2017 FY Half Year Results – Beach Energy Limited

Beach Energy Limited · Feb 20, 2017 · 34 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2017 FY Half Year Results – Beach Energy Limited – slide 1
    BEACH ENERGY LIMITED FY17 HALF YEAR RESULTS 20 February 2017
  2. 2017 FY Half Year Results – Beach Energy Limited – slide 2
    Contents Overview Matt Kay, Chief Executive Officer 4 Financial Morn Engelbrecht, Chief Financial Officer 10 Operational Mike Dodd, Chief Operating Officer 16 Exploration and Jeff Schrull, Group Executive Exploration and…
  3. 2017 FY Half Year Results – Beach Energy Limited – slide 3
    FY17 HALF YEAR RESULTS OVERVIEW Matt Kay Chief Executive Officer BEACH ENERGY LIMITED
  4. 2017 FY Half Year Results – Beach Energy Limited – slide 4
    Half year results reinforce the Beach value proposition Highly profitable base business Increasing drill bit activity Turnaround in HY NPAT to 103m, underlying NPAT +1,023% Up to 60 wells in FY17; 10 wells added for H2 FY17 Cash…
  5. 2017 FY Half Year Results – Beach Energy Limited – slide 5
    Delivering against strategic pillars Optimise core in the Cooper Basin Maintain financial strength Record HY production of 5.5 MMboe Cash flow breakeven down 23% to US20/bbl Three play-extending oil discoveries HY operating cash flow…
  6. 2017 FY Half Year Results – Beach Energy Limited – slide 6
    Operational results Record production and increased guidance Record half year production and sales volumes Record Production Record Sales Volumes 88% drilling success rate from 24 wells +25% +22% Oil discoveries in under-explored…
  7. 2017 FY Half Year Results – Beach Energy Limited – slide 7
    East coast gas opportunity Additional drilling required to address market imbalances East coast gas supply and demand1 Beach delivering on gas strategy Growing operated gas business Improved commercial arrangements Compression to…
  8. 2017 FY Half Year Results – Beach Energy Limited – slide 8
    Inorganic growth Opportunities progressing in a disciplined manner Clearly defined growth strategy underpinned by robust core base business Strategy Demonstrated progress via Drillsearch merger and farm-in activity Focused on…
  9. 2017 FY Half Year Results – Beach Energy Limited – slide 9
    FY17 HALF YEAR RESULTS FINANCIAL Morn Engelbrecht Chief Financial Officer BEACH ENERGY LIMITED
  10. 2017 FY Half Year Results – Beach Energy Limited – slide 10
    Financial overview Strong improvements in profitability and cash flow Sales Revenue NPAT EBITDA 344 million 103 million 224 million +27% +703 million +153% Operating Cash Flow Net Cash Interim Dividend 154 million 148…
  11. 2017 FY Half Year Results – Beach Energy Limited – slide 11
    Financial overview Business leveraged to higher volumes and oil price recovery million H1 FY16 H1 FY17 Change Record sales volumes Production (MMboe) 4.5 5.5 +22% Higher realised prices Sales volumes (MMboe) 5.1 6.4 +25% Lower…
  12. 2017 FY Half Year Results – Beach Energy Limited – slide 12
    Gross profit Record sales volumes and modestly higher prices million 160 4.7 0.5 1.4 26.1 8.9 Net third Gas / ethane 10.2 Inventory party prices 16.0 120 Depreciation 84.4 purchases /GJ FX rates 103.5 Oil and H1 FY16 6.05…
  13. 2017 FY Half Year Results – Beach Energy Limited – slide 13
    Turnaround in Underlying NPAT Robust business model and disciplined cost focus Underlying NPAT A/bbl Significant increase in NPAT to 103 million and Underlying NPAT Brent oil million to 89 million (+1,023%) 140 100 Gross Profit…
  14. 2017 FY Half Year Results – Beach Energy Limited – slide 14
    Robust funding position Generating free cash flow while investing for growth Record cash flow post oil price boom period H1 FY17 Cash Sources and Uses Up 19% to 154 million Operating cash flow Net cash up 202% to 148 million 154…
  15. 2017 FY Half Year Results – Beach Energy Limited – slide 15
    FY17 HALF YEAR RESULTS Operational Mike Dodd Chief Operating Officer BEACH ENERGY LIMITED
  16. 2017 FY Half Year Results – Beach Energy Limited – slide 16
    Production Record half year production and increased full year guidance Record half year production Actual and Forecast Production (MMboe) Up 22% to 5.5 MMboe 10.3 10.7 9.7 Gas* (H2) 56% oil; 44% gas and gas liquids 2.4 2.6 9.1…
  17. 2017 FY Half Year Results – Beach Energy Limited – slide 17
    Drilling activity Play-extending Western Flank oil discoveries Overall success rate of 88% from 24 wells; 60% exploration success rate Increased drilling activity in high-returning Western Flank acreage Play-extending Birkhead and…
  18. 2017 FY Half Year Results – Beach Energy Limited – slide 18
    Cost savings World-class cash flow breakeven of US20/bbl A/bbl US/bbl A/boe 40 25% 4 23% Operated field costs - 26% Cash flow breakeven1 Western Flank3 Reduced fixed expenditure 35 27 26 Renegotiated contracts 3.6 Operating and…
  19. 2017 FY Half Year Results – Beach Energy Limited – slide 19
    Cooper Basin JV cost savings Broad ranging initiatives now evident in results Well cost efficiencies m/well Drilling Costs1 Days Drill Durations2 10.0 25 33% 35% 8.6 24 Full review and refinement of service scopes 5.6 16 0.0 0…
  20. 2017 FY Half Year Results – Beach Energy Limited – slide 20
    Capital expenditure guidance Expanded drilling program to be delivered at a lower overall cost 184 million 170 185 million Discretionary expenditure High-graded projects; NPV positive; near- term line of sight to financial return;…
  21. 2017 FY Half Year Results – Beach Energy Limited – slide 21
    FY17 HALF YEAR RESULTS EXPLORATION AND DEVELOPMENT Jeff Schrull Group Executive Exploration and Development BEACH ENERGY LIMITED
  22. 2017 FY Half Year Results – Beach Energy Limited – slide 22
    Gas exploration Significant untapped exploration potential Extensive Southwest Patchawarra (SWP) and Permian Edge (PE) play fairways 1,300 km2 under-explored PE fairway Two SWP discoveries in H1 FY17; two H2 FY17 exploration wells…
  23. 2017 FY Half Year Results – Beach Energy Limited – slide 23
    Gas appraisal and development Middleton compression to sustain production Middleton compression project to be completed by end Q3 FY17 Optimising production infrastructure4 Will enable 25 MMscfd raw gas capacity to be reached and…
  24. 2017 FY Half Year Results – Beach Energy Limited – slide 24
    Oil exploration Long-term running room from extensive play fairways Extensive under-developed Namur and Birkhead play fairways (13,500 km2) Seven exploration wells in H2 FY17 Kangaroo-1 follow-up wells in ex PEL 91 to calibrate…
  25. 2017 FY Half Year Results – Beach Energy Limited – slide 25
    Oil appraisal and development Targeting new reserves from existing fields Extensive, proven oil fairway with untapped reserve potential in Kangaroo-1 existing fields on EPT at 220 bopd flow Horizontal drilling pilots under review…
  26. 2017 FY Half Year Results – Beach Energy Limited – slide 26
    FY17 HALF YEAR RESULTS KEY HIGHLIGHTS Matt Kay Chief Executive Officer BEACH ENERGY LIMITED
  27. 2017 FY Half Year Results – Beach Energy Limited – slide 27
    Half year results reinforce the Beach value proposition Highly profitable base business Increasing drill bit activity Turnaround in HY NPAT to 103m, underlying NPAT +1,023% Up to 60 wells in FY17; 10 wells added for H2 FY17 Cash…
  28. 2017 FY Half Year Results – Beach Energy Limited – slide 28
    FY17 HALF YEAR RESULTS APPENDIX BEACH ENERGY LIMITED
  29. 2017 FY Half Year Results – Beach Energy Limited – slide 29
    Significant items Reconciliation of Net Profit After Tax to Underlying Net Profit After Tax Comparison of underlying profit Movement H1 FY16 H1 FY17 (m) from PCP Net profit / (loss) after tax (600.1) 103.4 703.5 Remove merger…
  30. 2017 FY Half Year Results – Beach Energy Limited – slide 30
    FY17 operated drilling increased to 18 wells (+5) Permit Well Timing Target Rationale Result1 Hanson-4 Q1 Namur Development well to support facility expansion Success: C&S Stunsail-3 Q1 Namur Development well; part of low cost, full…
  31. 2017 FY Half Year Results – Beach Energy Limited – slide 31
    Record half year production Area H1 FY16 H1 FY17 Change Oil (kbbl) Cooper / Eromanga basins 2,187 3,095 42% Egypt 87 (100%) Total oil 2,274 3,095 36% Sales gas and ethane (PJ) Cooper Basin 10.9 11.5 5% Egypt 0.2 (100%) LPG (kt)…
  32. 2017 FY Half Year Results – Beach Energy Limited – slide 32
    FY17 capital expenditure program Capital Expenditure million Wells H2 FY17 Activities Exp. App/Dev Western Flank Operated Oil Bauer facility expansion Kangaroo production facility Ex PEL 91 35 40 6 4 Birkhead (2) and Patchawarra (1)…
  33. 2017 FY Half Year Results – Beach Energy Limited – slide 33
    Cooper Basin acreage Western Flank Gas and Gas Liquids Ex PEL 106 (100%*) - Middleton facility Ex PEL 513 (40%) Ex PEL 101 (80%*) Western Flank Oil Ex PEL 91 (100%*) - Bauer Field Ex PEL 92 (75%*) Ex PEL 104 / 111 (40%)…
  34. 2017 FY Half Year Results – Beach Energy Limited – slide 34
    FY17 HALF YEAR RESULTS BEACH ENERGY LIMITED Investor Relations 25 Conyngham Street, Glenside SA 5065 Derek Piper Tel: +61 8 8338 2833 Investor Relations Manager Fax: +61 8 8338 2336 Tel: +61 8 8338 2833 www.beachenergy.com.au

From the store

Browse maps, data & reports in the Shale Experts store