Beach Energy reports $1B underlying EBITDA

• Beach Energy delivered $1 billion in underlying EBITDA and $355 million in underlying NPAT following strong operational performance.
• The company declared a final fully franked dividend of 2 cents per share, bringing total annual payouts to 3 cents per share.
• Growth efforts will centre on advancing exploration programmes across the Western Flank, Perth Basin, and Taroom Trough.

Beach Energy (ASX:BPT) reported an underlying EBITDA of $1 billion and annual production of 19.4 MMboe, supported by output from its 250 TJ/day Waitsia Gas Plant. Underlying net profit after tax came to $355 million.

The performance was supported by a 7% increase in average realised gas prices to $11.5/GJ and a 3% reduction in field operating expenses to $244 million.

The company redirected over $500 million in near-term capital following the sale of VIC/L35 to optimise its Otway portfolio.

With $983 million in available liquidity and net gearing at 10.6%, Beach Energy stated that its balance sheet strength will fund future growth initiatives.

Managing Director and CEO Brett Woods said, "FY26 was a year of execution for Beach. We maintained our disciplined operational performance and advanced our commercial strategy, reinforcing Beach’s financial position and presence as a leading domestic energy supplier."

Following the announcement, the Beach Energy share price was down at $0.89.

Beach Energy operates natural gas and oil production assets across major energy basins in Australia and New Zealand.

The business continues to target multi-Tcf scale opportunities in the offshore Otway Basin alongside high-value backfill opportunities in the Perth Basin.