Beach Energy FY15 Half Year Results 23 February 2015 1
Highlights Reg Nelson Managing Director 3
H1 FY15 highlights Financial Half Year Comparison million Record sales volumes of 5.7 MMboe 600 Sales revenue of 427 million, down 23% from previous corresponding period (PCP) 500 Average realised oil price of A101/bbl, 400 down…
H1 FY15 highlights Operations Success Well Type Wells Successes Rate Production of 4.8 MMboe, down 3% from record PCP Exploration 13 6 46% Bauer Field four-well pad development campaign; results better than expected Appraisal 11…
FY15 outlook Production guidance of 8.9 9.4 MMboe Capital expenditure guidance reduced to 430 470 million 20% cut to H2 FY15 spend New Bauer Field pad development drilling Improved sales gas margins expected from oil-linked…
Sales revenue Decline primarily attributable to lower oil prices and third party sales, partly offset by exchange rate movements 9
Underlying NPAT Underlying NPAT of 72.4 million, down million Underlying NPAT 54% from record PCP, mainly due to: 158.1 160 Lower realised A oil prices; Lower third party sales volumes; and 120 Higher depreciation charges, Partly…
Impairments Area of interest approach for impairment Non-Cash Impairments Before Tax After Tax testing ( million) Cooper Basin impairments primarily relate Cooper Basin interests 194 136 to non-operated oil, gas and gas liquids…
Comparison of Underlying NPAT million H1 FY15 H1 FY14 NPAT (79.1) 160.5 Adjusted for: Unrealised hedging (7.0) 0.0 Mark to market of convertible note derivative (13.3) 8.8 Asset sales - (13.6) Impairment of assets 223.8 0.0…
Operations Neil Gibbins Chief Operating Officer 13
Production by area Area H1 FY15 H1 FY14 Change Cooper / Eromanga basins 2,370.2 2,603.9 (9.0%) Oil (kbbl) Egypt 49.5 32.7 51.4% Total oil 2,419.7 2,636.6 (8.2%) Sales gas and ethane (PJ) Cooper Basin 11.5 11.0 4.4% LPG (kt)…
Operating results Production of 4.8 MMboe, down 3% from MMboe Actual and Forecast Production record PCP 10.0 9.6 8.9 9.4 Natural field decline offset by better than expected production from Bauer Field Gas* 8.0 2.1-2.3 8.0 7.5…
FY15 revised capital expenditure guidance FY15 Revised Capital Expenditure Guidance Original Revised ( million) DEVELOPMENT Cooper Basin (non-SACB and SWQ JVs) 55 60 50 55 Cooper Basin (SACB and SWQ JVs) 270 300 260 275…
Bauer Field development Bauer-16 to -19 development well pad drilling completed Results high to prognosis 2P reserves increase expected Pad drilling achieved time and cost savings Sideways walk from Bauer-16 to -17 completed in…
NTNG Stage 1 exploration program Stage 1 exploration program complete; all Beach technical objectives met Key Objectives Key Highlights Geographically and vertically delineate 1. 18 wells drilled across permits target zones Test…
Contact information Beach Energy Limited 25 Conyngham Street Glenside SA 5065 Tel: +61 8 8338 2833 Fax: +61 8 8338 2336 Website: www.beachenergy.com.au Chris Jamieson Group Executive External Affairs Email:…
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