Beach Energy portfolio FY18 2P reserves1 Perth Basin Cooper Basin 313 MMboe Otway Basin Bass Taranaki Basin Basin Five year targets (FY19 23) 1. Production growing to 30 - 36 MMboe2 2. 100% reserves replacement2 3.…
Strong financial and operational performance continues Tracking ahead on all fronts FY19 production expected towards upper end of previously upgraded guidance Production range of 28 29 MMboe Four of six operated facilities tracking…
Third quarter highlights Strong financial and operational performance High drilling success rate recorded in the quarter; continues Activity with the drill bit to accelerate in Q4 FY19 Total quarterly production of 7.23 MMboe up 10%…
FY19 guidance reaffirmed FY19 Guidance Comment Production 28 29 MMboe Upper end Capital Expenditure 450 500 million Lower end Underlying EBITDA 1.25 1.35 billion Upper end DD&A 450 500 million Upper end Production is…
Disciplined Balance Sheet management Net gearing since Lattice acquisition completion Targeting to be debt-free on completion of Otway Sale, more (end January 2018) than 2 years ahead of original debt-free target date 40% Balance…
Robust and stable revenue base Fixed price contracts provide revenue certainty FY19 estimated sales revenue and expenditure 2,500 Beach expects to generate revenue of more than 700 million in FY19 from its stable gas YTD average…
East coast gas market Supplying the market is a strategic imperative Beach east coast infrastructure Beach is a material owner of critical gas infrastructure Three basins and infrastructure hubs supplying East Coast gas Currently…
Attractive near term and long term pricing outlook Repricing events approaching Current east Re-contracted / re-priced volumes2 coast vols Annual step-ups and CPI adjustments of Lattice contracts 100% Majority of existing East Coast…
Delivering as a low cost operator Beach operating costs/boe1 Beach extracted 56 million of synergies to H1 FY19, primarily relating to exiting the TSA with Origin Energy, insurance savings /boe and other integration benefits. 12…
Asset Updates Artificial lift in the Cooper Basin
Western Flank Oil Beach 40 - 100% interest Hanson-7, was drilled and brought Western Flank Oil Production on line in Q3 and averaged over 1,600 bopd free flow over its first 30 (MMboe) days of production 1.4 Artificial lift was…
Bauer Field development Horizontal vs vertical wells Improvement in drilling/connection times Beach has increased the application of horizontal well technology, In FY18 Beachs first ever operated horizontal well, Bauer-26, achieved…
Western Flank Oil Rollout the Bauer strategy across the Western Flank Six-well appraisal/development campaign completed in the Hanson Field Both appraisal wells cased and suspended as future producers and Kangaroo App confirmed the…
Western Flank Gas ex PEL 106 and ex PEL 91, Beach 100% and operator Liquids rich gas fields close to Moomba Liquids (condensate and LPG) have generated similar revenues to gas sales in FY19 Liquids handling capacity expanded to…
Cooper Basin JV Beach various interests (20.76 - 52.2% range), Santos operator 100% drilling success rate across 12 gas wells drilled in Q3, including: Completion of the Moomba South gas appraisal program with the final two wells,…
Cooper Basin JV Moomba South appraisal Phase one of Moomba South Appraisal completed Seven successful wells from the eight well program, all seven wells now on production Peak stabilised single-well gas flow of 8.7 MMscfd has…
Victorian Otway Basin Beach 100%* and operator Ocean Onyx secured for offshore Otway drilling program, late CY19 target start date First well expected to be drilled is the Artisan gas exploration well Nearshore drilling to commence…
Victorian Otway Basin Production Ten drilling opportunities (eight development) planned in the OGP production outlook (100% interest)1 next four years to keep the Otway Gas Plant (OGP) as full as possible. Black Watch and…
Perth Basin Waitsia (Beach 50%), Beharra Springs (Beach 67% and operator) Onshore rig Easternwell 106 contracted to drill the Beharra Springs Deep gas exploration well. Drilling is expected to occur in H1 FY20. Progress continuing…
South Australian Otway Basin Beach interests 70 100% and operator Ensign 931 rig is on site for drilling of the Haselgrove-4 appraisal well Dombey-1 exploration well to follow Haselgrove-4 On track to deliver first gas from…
Carnarvon Basin Ironbark Prospect WA-359-P Beach 21%, subject to farm-in; WA-409-P Beach 7.5% subject to farm-in1 BP has secured the Ocean Apex rig to drill the Ironbark prospect. Drilling is expected to commence in late calendar…
Key takeaways Beach is ahead of schedule and delivering on its promises FY19 production expected towards upper end of previously upgraded guidance range Grow production of 2829MMboe (30 36 MMboe by FY23) Four of six operated…
Appendices Lang Lang gas facility, Bass Basin
New Zealand Kupe Gas Project Beach 50% and operator Front End Engineering and Design (FEED) commenced on the Kupe compression project, FID targeted for H1 FY20 1. PCP not included for this asset due to ownership change since PCP…
Bass Basin Beach 53.75% producing assets, 50.25% non-producing, Beach operated Progressed the evaluation of a potential tieback of the Trefoil Field 1. PCP not included for this asset due to ownership change since PCP from Lattice…
Oil hedging position Oil hedges as at 31 March 2019 3-way Collar Total Hedged 40 103 113 Volumes (bbl) per bbl FY19 90,000 90,000 Total 90,000 90,000 30
Beach Energy Limited 25 Conyngham Street Glenside SA 5065 Australia T: +61 8 8338 2833 F: +61 8 8338 2336 beachenergy.com.au Investor Relations Nik Burns, Investor Relations Manager Mark Hollis, Investor Relations Advisor T: +61 8 8338…
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