14 FEBRUARY 2022 FY22 Update picture in Half Year Results the slide Enterprise 1 Otway Basin
Compliance statements Disclaimer Reserves disclosure This report contains forward-looking statements, including statements of current intention, opinion and predictions Beach prepares its reserves and resources estimates in accordance…
First Half Highlights Continued delivery against our strategy Optimise Maintain Strengthen Pursue Sustain core producing financial strength complimentary other compatible by reducing Scope assets gas business growth opportunities…
First Half financial results Strong cashflows and balance sheet 513 million 1 26% 786 million 11% 1 213 million 1 66% EBITDA Sales revenue Reported NPAT 65% EBITDA 1 13% 605million 1 105% 62% revenue revenue margin…
Delivering on 28MMboe Growth Target Key milestones achieved in First Half Key Deliverables Key progress 1 Bring Kupe Compression Project online Achieved in September 2021 Kupe at full plant capacity at 77 TJ/d Achieved in December…
Base set for second half delivery Focused on completing offshore drilling campaign Still to come in FY22: Drilling of the three remaining Thylacine offshore wells FID for Enterprise onshore pipeline project Commence…
Moomba Carbon Capture and Storage Beach reaches FID on the Moomba CCS project1 Beach sanctions transformational Federal Government has approved emissions reduction project, CCS Methodology, project following independent review…
Guidance update FY22 guidance maintained Prior FY22 guidance Unchanged FY22 guidance FY22 production outlook (by product) Production (MMboe) 21.0 - 23.0 21.0 23.0 Capital expenditure ( million) 900 - 1,100 900 - 1,100 15% 20% Oil…
F Y 2 2 H A L F Y E A R R E S U LT S Financial Results Anne-Marie Barbaro ACTING CHIEF FINANCIAL OFFICER
Financial Highlights H1 FY22 v H1 FY21 comparison million (unless otherwise indicated) H1 FY21 H1 FY22 (%) Production (MMboe) 13.71 11.0 (20%) Sales volumes (MMboe) 13.4 11.2 (16%) Average realised oil price ( per bbl) 64.9 113.6…
Reported NPAT H1 FY22 v H1 FY21 comparison (3) Reported NPAT up 66% due to: 75% increase in realised oil price 39 (36) 21 11% increase in sales revenues (23) 16 Reduced tariff and tolls and depreciation, due to lower 71…
Cash flow movements Strong operating cash flows supports growth investment H1 FY22 Net Cash position 73 million Cash of 213 million as at 31 December 2021 Operating cash flow of 605 million, including 29 million of income tax…
Available liquidity Fully funded to deliver on growth strategy 673 FY22 Successful refinancing of Financial strength maintained facility to 600 million FY21 87.5 million Net cash position of 73 million1 as at 31 December 2021…
F Y 2 2 H A L F Y E A R R E S U LT S Our Assets
Beach Energy portfolio diversity Six production hubs supplying three distinct gas markets Bass, Cooper, Perth, Taranaki and Otway (Victoria and South Australia) Basins Liquids Oil 22% Gas 37% H1 FY22 East 63% Production Coast…
Victorian Otway Basin Delivering strategy to re-fill Otway Gas Plant Asset Details Interest: 60% and operator (JV participant O.G. Energy) Asset Life: 15 years Facility: Otway Gas Plant (205TJ per day capacity) First Half…
Victorian Otway Basin Focus on maximising utilisation of the Otway Gas Plant Otway Gas Plant Status New Geographe wells have now increased combined well potential to 160-180TJ/d New development wells capable of filling Otway Gas Plant…
Perth Basin Moving towards global LNG sales from H2 2023 Asset Details Interest: 50% and operator of Beharra Springs (JV participant Mitsui); 50% of Waitsia (JV participant and operator Mitsui) Asset Life: 15 years Current…
Western Flank oil and gas Returning to exploration drilling on the Western Flank Asset Details Interest: 100% interest and operator of ex PEL 91, 104/1111 and 106; 75% interest and operator of ex PEL 92 (JV participant Cooper…
Cooper Basin Joint Venture Drive production levels from Cooper Basin JV assets Asset Details Interest: Various interests1 (JV participant Santos and operator) Asset Life: 20 years Facility: Moomba Gas Processing Facility 400 TJ per…
Bass Basin Focus on life extension through Yolla and Trefoil Asset Details Interest: 88.75% and operator BassGas (JV participant Prize Petroleum); 90.25% and operator Trefoil (JV participant Prize Petroleum)1 Asset Life: 12 years…
Taranaki Basin Compression project complete evaluating plateau extension opportunities Asset Details Interest: 50% and operator (JV participants Genesis Energy, New Zealand Oil & Gas) Asset Life: 15 years Facility: Kupe gas plant…
F Y 2 2 H A L F Y E A R R E S U LT S Conclusion
Key Takeaways DELIVERING SECOND EXPLORE PORTFOLIO STRONG ON GROWTH HALF FOCUS OPTIONALITY BALANCE SHEET Western Flank Oil 3 remaining offshore All first-half growth exploration 73m Net cash position Otway wells to be drilled…
F Y 2 2 H A L F Y E A R R E S U LT S Q&A
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 Adam Stokes, T: +61 8 8338 2833
F Y 2 2 H A L F Y E A R R E S U LT S Appendices
EBITDA, EBIT, NPBT and NPAT million H1 FY21 H1 FY22 (%) EBITDA 4061 513 26% Depreciation and amortisation (219) (203) (7%) EBIT 187 310 65% Finance expenses (5) (8) 55% Interest Income 0 0 100% Net profit before tax…
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