4 M AY 2 0 2 1 Macquarie Conference Update picture in 2021 the slide Enterprise 1 Otway Basin
Macquarie Conference 2021 Key takeaways Recent Western Flank performance led to review and 18.4 MMboe net downgrade to 2P oil and gas reserves1,2,3 Update picture in Lattice acquisition provided strategically diversified gas…
Health, safety and environmental performance Safest year on record to date Safety performance (TRIFR1) Environmental performance 15.6 Crude/hydrocarbon spill volume (kl) 51.9 9.7 7.9 5.9 5.7 3.8 3.5 3.4 4.1 3.7 2.0 9.6 1.8 2.9…
Committed to reducing our emissions Progressing delivery of 25% emission reduction Initiatives include: Flare and vent management Bauer Hybrid Renewable Project Leak Detection and Repair Beach is implementing initiatives to reduce…
Refreshed Executive Team Changes to technical team provides renewed oversight to Beachs portfolio and drive the next phase of growth across development and sustainability Thomas Nador Group Executive Development Ian Grant Chief…
MACQUARIE CONFERENCE 2021 Western Flank 2P reserve downgrade
Western Flank oil background Reversal of FY16 Western Flank oil decline accelerated deleveraging of Beachs balance sheet Western Flank oil production was in decline by FY16, with high future uncertainty ( million) 31 Jan 2018 31 Mar…
Bauer oil field update New production information now indicates 2P reserves downgrade BAUER DISCLOSED TO MARKET AT FEBRUARY 2021 RESULT BAUER UPDATE New Bauer reservoir model developed incorporating FY21 drilling 18 Bauer McKinlay…
Non-Bauer Western Flank oil field issues Recent production data shows Bauer model likely not applicable across all Western Flank oil fields 28 fields outside Bauer made FY21 drilling program highlighted the Wells typically require…
Current status Net downgrade to Western Flank 2P oil and gas reserves1, equates to 5% of Company 2P reserves at 30 June 2020 WESTERN FLANK 2P OIL AND GAS RESERVE DOWNGRADE Annual reserve audit underway7, to be completed in August 2021…
Outlook Impacts on FY21 guidance FY21 GUIDANCE UPDATE Five-year outlook is withdrawn and Beach will no longer Pre-acquisition guidance Pro-forma guidance1 Updated pro-forma guidance provide a five-year outlook in its current…
MACQUARIE CONFERENCE 2021 Our Strategy
Beach Energy portfolio diversity Six production hubs supplying three distinct gas markets Bass, Cooper, Perth, Taranaki, SA Otway and Victorian Otway Basins West Coast 2% gas 32% Liquids Oil FY21 YTD Gas 44% 45% Production…
A strategically diversified portfolio 2017 Lattice acquisition positioned Beach beyond Western Flank oil and gas assets SINGLE ASSET RISK AND UNCERTAINTY OF WESTERN FLANK ASSETS WAS A KEY DRIVER OF DIVERSIFICATION End FY16 End…
Maintaining financial strength Net…
Delivering our growth strategy Continuing to re-invest in our high-returning, diversified gas business Production growth expected from FY23 with committed Waitsia LNG Production growth committed: and offshore Otway developments…
Beach has delivered on key milestones Focus on execution and delivery of our growth strategy DELIVERED UPCOMING ACTIVITIES Delivered Final Investment Decision at Waitsia Gas Project Stage 2 on schedule, Targeting completion of…
MACQUARIE CONFERENCE 2021 Our Markets
East Coast domestic gas market Emerging supply shortfall supports Beachs east coast gas strategy East Coast gas supply/demand forecast (PJ) Beachs forecast East Coast gas sales (% of volume) 2,500 100% 2,000 75% 1,500 1,000…
LNG markets Beach to become an LNG producer at an opportune time in the LNG cycle Global LNG supply/demand (Mt) Waitsia LNG volumes LNG supply is forecast to tighten from 2022 Supply tightness forecast between 2022 New greenfield…
Western Australia domestic gas market Well supplied in the near-term, uncertainty increasing from mid-2020s AEMO WA GSOO base scenario gas market balance (TJ per day)1 Domestic market expected to be well supplied until mid-2020s 1,600…
MACQUARIE CONFERENCE 2021 Our Assets
Waitsia LNG and domestic gas Material production growth committed from H2 2023 Detailed design engineering to support procurement activities progressing to plan during Q4 FY21 NWS access Pipeline access Approvals EPC contract…
Otway Basin Targeting tripling utilisation by mid-FY23 100% exploration success for Forward activity Otway campaign Targeting re-filling of the 205 TJ per day Otway Discovery of 21 MMboe net 2P reserves1 (34 Gas Plant by mid-FY23:…
Western Flank oil and gas Future focus on measured exploration and appraisal drilling of prospective…
Bass Basin Trefoil has potential to be a material development, progress towards FEED Extending life of existing Forward activity infrastructure Commencing Trefoil FEED in Q4 FY21 Yolla field production continuing Targeting FID in…
New Zealand Kupe Gas Project Kupe gas compression on-track Progressing towards Forward activity compression start up Kupe compression project expected to commence operations in H1 FY22 98% average facility reliability in FY21…
Cooper Basin JV Focus on high value, low-risk opportunities Production steady despite Forward activity downtime and weather Beach plans to participate in 15 wells during Completed 26 wells at 90% success rate Q4 FY21 o 88%…
Macquarie Conference 2021 Key takeaways Recent Western Flank performance led to review and 18.4 MMboe net downgrade to 2P oil and gas reserves1,2,3 Update picture in Lattice acquisition provided strategically diversified gas…
MACQUARIE CONFERENCE 2021 Q&A
MACQUARIE CONFERENCE 2021 Appendices
Perth Basin Ramp-up of Xyris and Beharra Springs production Completion of plant works and Forward activity modifications Waitsia Stage 2 development detailed design engineering to support procurement Safely completed Waitsia…
MACQUARIE CONFERENCE 2021 Thank You
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 Chris Morbey, Head of Investor Relations T: +61 8 8338 2833
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