Cooper Basin acreage Prolific gross acreage position of over 56,000 km2 generating 99% of production 4
Key facts about Beach ASX 100 company with a market capitalisation of A2.2 billion1 Largest Australian onshore oil producer Strong balance sheet with cash of 411 million2 Undrawn secured debt facility of 300 million FY14 sales…
Beach share price performance Beach has strongly outperformed its peers in FY14 and the Energy and All Ordinaries indices consistently over the past four financial years FY14 share price performance FY10-FY14 share price performance…
General overview Outstanding FY14 performance driven by the Beach operated oil business Very strong balance sheet with the potential to fund capex until the end of FY16 Oil linked gas contract with Origin to commence in FY15…
Asset portfolio Deep portfolio of low risk production and exploration assets, with game changing opportunities across diverse Australian basins 25 NTNG 20 SACB / SWQ JV - unconventional International 15 Bonaparte Risk…
Asset portfolio review Certain assets to be considered for divestment to ensure asset portfolio aligned with strategic outlook International assets under review Active history of non-core and value driven Various investment…
FY14 Financial overview Sales Revenue Underlying NPAT Operating Cash Flow Record sales revenue of 1.05 billion Cash balance of 411 million Record underlying NPAT of 259 million Full year dividend of 4.0 cps, up 78% Record…
Actual and forecast production FY14 9.4 MMboe Production of 9.6 MMboe 9.6 MMboe to 8.6 MMboe Production mix: 46% gas and gas liquids, 54% oil 8.0 MMboe Cooper Basin oil production driven by: 7.5 MMboe Gas* Gas* 4.4-4.9 4.4…
FY15 Capital expenditure guidance Capex 3D Seismic Wells ( million) (km2) DEVELOPMENT Cooper Basin non-SACB/SWQ JVs 55 60 10 13 Cooper Basin SACB/SWQ JVs 270 300 70-80 International 10 3 Total Development 335 370 Up to 96…
Reserves and contingent resources 2P: 86 MMboe 2P and 2C: 552 MMboe Unconventional Gas and gas liquids Gas and gas liquids 67 MMboe 362 MMboe 2P reserves 86 MMboe Oil 19 MMbbl Conventional Gas and gas liquids 92 MMboe…
FY15 Key activities Early success in FY15 program with the Balgowan-1 discovery 14
Eastern Australian gas market 15
Eastern Australian gas markets Strong predicted growth in Eastern Australian gas and Asian LNG demand Gladstone based export LNG projects have transformed the east coast gas market Projected gas supply is tight and demand strong The…
Prolific gas acreage strategically located Quality acreage footprints accessing multiple markets Prime unconventional gas acreage with transformational potential Gas liquids potential in most basins Multi-basin portfolio to…
Upstream and downstream dynamics Equity molecules to equity projects Suppliers creating new markets via downstream investments Vertical integration driven by both domestic and export opportunities Depending on volume and…
Western Flank Cooper Basin 19
Western Flank High net back for oil and wet gas Quick drilling rate High flow rate wells Excellent geological understanding Established infrastructure 250 kilometres of flowlines 10 facilities and five trucking points 40 oil…
Western Flank oil migration path 21
PEL 91 Beach 40% and operator, Drillsearch 60% Current gross production 10,500 bopd FY15 expectations Bauer facility expansion from 50,000 bpd of fluid to 75,000 bpd in second half CKS fields on-line in first half and…
PRLs 85 to 104 Beach 75% and operator, Cooper Energy 25% Current gross production 4,500 bopd FY15 expectations Reprocessing of existing 3D seismic around the Callawonga and Butlers/Parsons trends Three development wells, one…
PEL 104 and PEL 111 Beach 40%, Senex 60% and operator Focus on the Birkhead Formation Current gross production of 4,500 bopd from Growler/Spitfire and Snatcher fields Spitfire field producing strongly with further upside potential…
PEL 106 Beach 50% and operator, Drillsearch 50% Liquids rich operated production Gas sales agreement with SACB JV to March 2016 Gross flow rate of 12 MMscfd and 1,000 bbl per day LPG and condensate FY 15 expectations Three…
Other Cooper Basin 26
ATP 924 Beach farming-in to 45% with Drillsearch Permit area 2,300 km2 and located between the Inland and Cook oil fields Two stage farm-in process Beach to fund 150 km2 of current 3D seismic and drill initial exploration well…
ATP 732 Beach earning 50%, Bengal Energy 50% Large underexplored permit Located between the Jackson (50 MMbbl of oil produced) and the Kenmore/Bodalla (20 MMbbl of oil produced) oil fields Targeting conventional oil reservoirs…
PEL 94 and PEL 95 PEL 94 Beach 50% and operator, Strike Energy 35%, Senex 15% PEL 95 Beach 50% and operator, Strike Energy 50% Targeting deep coals at 1,500 2,000 metres depth in PEL 94 Well costs 3 million Davenport-1…
SACB JV and SWQ JVs conventional gas 30
SACB JV and SWQ JVs Significant acreage with substantial reserves base 20.21% in the South Australian Cooper Basin Joint Venture (SACB JV) and 20-40% in the South West Queensland JVs (SWQ JVs) Gross area covered by various joint…
Moomba processing facility Strategically located expandable facility Current daily capacity approximately: 300 TJ gas 35 kbbl oil/condensate 600 tonnes LPG Opportunities to process more third party gas being actively pursued…
SACB JV conventional gas Six rigs operating Focus on cost savings through multi-well pad drilling SIMOPS approach to fracture stimulation Targeted 30% capacity growth by 2015, leading to a step-change in cost reductions…
Unconventional gas Cooper Basin 34
Unconventional transaction activity McArthur Basin 2011 2012 2013 2014 Beetaloo Basin 600 Canning Basin Almost 2 billion 500 Southern committed to Gross consideration (A million) Georgina Basin 400 new Australian…
Unconventional positioning Strategically targeted three key basins for unconventional acreage Cooper Basin activity: Nappamerri Trough Natural Gas with Chevron and Icon SACB JV unconventional REM and BCG plays Otway and Bonaparte…
The keys to unconventional success Well profiles the key focus on all projects Uncovering sweet spots with focused activity around them Process improvements and technology to drive efficiencies Costs to be driven down by…
SACB JV unconventional gas 38
SACB JV unconventional program 39
REM play Targeting the Roseneath Shale, Epsilon Formation, Murteree Shale and Patchawarra Formation Moomba-191 and -194 tied-in Roswell-1 and Moomba-192 vertical wells fracture stimulated and flow tested Moomba-193H: 1,000 metre…
BCG play Gaschnitz-1 ST1 vertical well: Seven zone stimulation over entire Permian section Produced at 1 MMscfd Completed and shut-in Remaining Gashnitz vertical wells for 2014: Two deep, targeting full Permian section One…
Nappamerri Trough Natural Gas 42
Nappamerri Trough Natural Gas A staged and methodical exploration and appraisal program Delineation of a significant untapped resource Multiple formations present Aerially extensive with permits covering more than 800,000 acres…
NTNG wells 44
ATP 855 stimulation program Up to four wells to be fracture stimulated Expected to commence early September New stimulation spread from the USA Order of wells to be fracture stimulated: Hervey-1 Five stages targeting the upper…
Timing of Stage 1 completion Terms of the farm-in agreement signed in February 2013 as follows: South Australia PRLs 33-49 Beach to notify Chevron following completion of Stage 1 work program Once notified, Chevron has 60 days to…
Exploration and appraisal cross section Note: Well locations are approximate only and may have been shifted to show their correct structural position on the cross section 47
Other Australia 48
Otway Basin Building a portfolio of onshore and offshore gas assets The largest growth profile of any Australian basin over the past year Onshore processing capability of 500 MMscfd Further conventional onshore drilling…
Bonaparte Basin EP 126, 138 (Beach earning up to 85%) 6,500 km2 high resolution airborne gravity and magnetic survey acquired, processed and interpreted Cullen-1 reached a total depth of 3,325 metres 54 metres of core recovered…
International 51
Egypt Relinquishment of the Mesaha block Targeting material oil prospects Abu Sennan success within the El Salmiya field Increase in net entitlement oil reserves at 30 June 2014 of 1.2 MMbbl Currently drilling two wells in the…
Farm-out of Tanzanian acreage Woodside farming-in to 70% of the Lake Tanganyika South Block As part of the farm-in, Woodside will: Reimburse its share of back costs Fund a further round of seismic Contribute to Beachs share of…
Romania Est Cobalcescu block Beach 30%, PetroCeltic 40% and operator, Petromar 30% 1,000 km2 with complete 3D seismic coverage Water…
Appendices 55
Financial results overview Outstanding financial results, with records achieved for sales volumes, revenue, operating cash flow and underlying NPAT FY14 FY13 Change Sales volume (MMboe) 10.8 9.0 20% Total sales revenue ( million)…
Growing Corporate Activity 2014 YTD Greatest activity in the listed oil and gas industry over the last four years 2011 2012 2013 YTD 2014 2,000 1,840 1,500 Equity Value Am 1,000 924 535 474 500 178 212 107 104…
Chevron transaction summary Subject to joint venture approvals, the key work program elements envisaged across the two permits involve an initial exploration program to be followed by pilot production programs PRLs 33 to 49…
SACB JV unconventional and infill wells Moomba wells - nomenclature Current Well Name Previous Well Name Purpose Status Roswell 1 Roswell 1 Vc 50 coal, REM, Microseismic Flowing from Vc 50 post frac Roswell 2 Roswell 2 Horizontal…
Contact Information Head office Chris Jamieson 25 Conyngham Street General Manager Investor Relations Glenside SA 5065 Tel: +61 8 8338 2833 Tel: +61 8 8338 2833 Mob: +61 8 (0)487 173 244 Website: www.beachenergy.com.au Email:…
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