OCTOBER / NOVEMBER 2019 US AND CANADA ROADSHOW PRESENTATION
Beach Energy portfolio FY19 production Taranaki Basin Western Bass Flank Basin 29.4 MMboe Otway Cooper Basin Basin Perth Basin FY19 2P reserves Taranaki Basin Western Bass Flank Basin Otway 326 Basin MMboe Cooper…
Asset summary Beach FY19 production1 FY19 2P reserves2 FY20 capex3 Asset Operator Key FY20 proposed activities Interest (MMboe) (MMboe) range (million) Western Flank Oil 40 100% Op/Non-op 5.2 42 200 225 Drill up to 77 wells Western…
Executive Summary Listed on the Australian securities exchange (code: BPT.AX) Company overview Market capitalization A5.3 billion (US3.7 billion)1 Diversified portfolio of producing assets in 5 basins in Australia and New Zealand…
Delivering on our promises Beach said. In FY19 Beach delivered FY19 production1 26 28 MMboe 29.4 MMboe FY19 capital expenditure1 460 540 million 447 million FY19 free cash flow2 290 million 559 million FY19 underlying EBITDA2…
Investing to accelerate production and free cash flow growth Beach is now targeting and cumulative free cash flow3 by accelerating investment in 3440MMboe annual production of more than 2.7 billion over our expanded growth portfolio…
FY20 guidance FY19 Reported1 FY19 Pro Forma1 FY20 Guidance Production 29.4 MMboe 26.2 MMboe 27 29 MMboe Capital Expenditure2 447 million 435 million 750 850 million Underlying EBITDA 1.375 billion 1.22 billion 1.25 1.40 billion…
FY20 capital expenditure guidance splits Investment focus remains on Cooper Basin and Victoria Increase in FY20 vs FY19 driven by Capital expenditure by type by asset group 5% Participation in up to 194 wells (FY18: 134 wells) 4% 14%…
East coast gas market Market dynamics support Beachs investment strategy Southeastern Australia gas demand vs production1 Conventional supply 600 CSG supply 500 400 Supply gap expected to be met by LNG diversions and/or LNG LNG…
Attractive medium-long term pricing outlook Higher gas sales and repricing of legacy volumes to deliver higher gas revenues East coast Re-contracted / re-priced volumes gas supply Lattice gas contracts have annual 100% step-ups and…
Delivering as a low cost operator Beach operating costs/boe1 /boe Operational Excellence program launched to generate 10 9.9 value through safe, reliable and efficient operations 9.7 o Reliability focus saw average facility…
U S A N D C A N A D A R O A D S H O W P R E S E N TAT I O N Asset updates
Cooper Basin Overview Key assets include Western Flank (operated and non-operated) and CBJV (non-operated) Cooper Basin has been explored over the past 60 years Few operators active in the Basin over this period Western Flank play…
Western Flank Oil Record year of investment and drilling activity planned in FY20 FY19 production FY20 proposed activities Western 200 million to be invested in Western Flank Flank Oil oil, a record for Beach 5.2 MMboe 29.4 Up to…
Western Flank Oil Bauer (Beach 100% interest) keeps on getting bigger Top reservoir map Top reservoir map (pre-2018 appraisal campaign) (pre-2019 appraisal campaign) Success of the Bauer appraisal strategy Flat structural relief means…
Western Flank Gas ex PEL 106, ex PEL 107 and ex PEL 91, Beach 100% and operator FY19 production FY20 Focus: Western Potential further appraisal drilling at Lowry Flank Gas 1.9 MMboe and Middleton 29.4 MMboe Drill 3-5 prospects…
Cooper Basin JV Beach various interests (20.76 - 52.2% range), Santos operator FY19 production FY20 Focus: Cooper Basin JV 100 wells currently planned for FY20 8.1 MMboe 29.4 Follow up development proposed at Moomba MMboe South…
Victorian Otway Basin Beach 60% and operator FY19 production FY20 Focus: Vic Otway Black Watch and Enterprise Extended Basin Reach Directional (ERD) wells to be drilled 8.4 MMboe from mid-FY20 29.4 MMboe Black Watch connection…
Increasing exposure to market pricing Legacy contract pricing to end in FY21/22, exploration and La Bella adds flexibility Eleven drilling opportunities (eight development) Otway Gas Plant gas production outlook (100% interest)1…
Bass Basin Beach 53.75% producing assets, 50.25% non-producing, Beach operated FY19 production FY20 Focus: Bass Basin Continue development studies on Trefoil gas 1.7 MMboe field 29.4 Planning for 3D seismic over White Ibis/Bass…
New Zealand Kupe Gas Project Beach 50% and operator FY19 production FY20 Focus: New Zealand Kupe Joint Venture approved compression 3.2 MMboe project in Q1 FY20, expected to be completed by late FY21. Supports 29.4 MMboe…
Perth Basin Waitsia (Beach 50%), Beharra Springs (Beach 50%1 and operator) FY19 production FY20 Focus: Perth Basin Commence construction of Waitsia Stage 1 0.7 MMboe expansion 29.4 FID on Waitsia Gas Project Stage 2 targeting…
Beharra Springs Deep gas discovery Kingia Sandstone well Log comparison: Waitsia-4 to Beharra Springs Deep-1 A new gas discovery in Perth Basin at exploration well Beharra Springs Deep-1 (Beach 50% and operator1) Preliminary net…
South Australian Otway Basin Beach interests 70 100% and operator FY20 Focus: Dombey-1 exploration well spudded in Q1, with gas discovery announced in the Pretty Hill Formation subsequent to quarter end Completion of construction…
Frontier Exploration High Impact Exploration Targets in Portfolio Ironbark Carnarvon Basin (Beach 21% interest) Wherry Canterbury Basin (Beach 37.5% interest) Large liquids-rich gas prospect with follow-up potential Drilling planned…
Beach illustrative rig schedule1 Beach to employ 10 rigs in FY20, up from 5 in at the start FY19 H1 FY20 H2 FY20 H1 FY21 Non-operated rig (Santos operator) Non-operated rig (Santos operator) Cooper Basin JV Non-operated rig…
Appendices
Indicative FY20 drilling program Record drilling activity in the Western Flank, offshore Otway drilling to commence FY20 expected number of wells Highlights Gas Oil Total Record drilling activity for Beach in FY20 - up to 194 wells…
Reserves and contingent resources 204% organic 2P reserves replacement, well ahead of 100% five year average target Summary of reserves at 30 June 2019 Highlights (developed plus undeveloped, net to Beach) 2P reserves increased by 4%…
Financial highlights million (unless otherwise indicated) FY18 FY19 Change Underlying NPAT recognises Production (MMboe) 19.0 29.4 55% 55% increase in sales volumes Sales volumes (MMboe) 20.1 31.2 55% 9% increase in realised oil…
Beach Energy Limited Level 8, 80 Flinders Street Adelaide SA 5000 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…
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