Beach revenues climb on output boost

Looking ahead: Beach managing director Reg Nelson expects the current financial year to be "a watershed" one

South Australian company Beach Energy saw revenues rise during the recent financial year on the back of increased production.

The company generated A$618.6 million (US$646.99 million) in sales revenue over the 12 months to 30 June, up 25% on the A$496.4 million booked during the previous year.

Beach attributed the jump in revenue to a stronger oil price which averaged A$114.80 per barrel, and a 15% rise in production.

Output during the 12 month period totaled 7.5 million barrels of oil equivalent which was slightly above the company’s full year guidance of 7.4 million boe.

The rise in output was mainly attributable to improved weather conditions and better than expected trucking operations…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index