Beach Energy (ASX:BPT) has reported mixed operational results for the second quarter of FY26, with total production declining 9% to 4.5 million barrels of oil equivalent, reflecting lower Otway Basin output due to seasonal customer nominations and planned maintenance.
Conversely, Western Flank and Cooper Basin operations benefitted from flood recovery efforts, posting production increases of 5% and 12%, respectively, as most flood-impacted wells were restored.
Sales volumes fell 13% to 5.9 MMboe, generating $445 million in revenue. Two Waitsia LNG cargoes contributed $111 million, underpinned by a realised average gas price of $11.9 per gigajoule, including spot and short-term market sales.
The Waitsia Gas Plant achieved its first gas export milestone on Dec. 6, 2025 and reached peak production of 165 terajoules per day post-quarter, with ramp-up toward nameplate capacity continuing through Q3 FY26.
The Western Flank commenced a 12-well oil appraisal and development program, drilling three successful wells, while the Cooper Basin JV recorded a new gas discovery at Purraroo 1.
Offshore operations saw the White Ibis 1 well safely plugged and abandoned, with further activity planned for late Q3 FY26.
Financially, Beach strengthened liquidity, reporting $925 million in cash reserves and undrawn facilities, supported by a new $300 million term loan. Positive cash flow reduced net debt quarter-on-quarter.
Managing Director Brett Woods highlighted milestone achievements, including the completion of Waitsia and flood recovery, while maintaining a strong safety record and advancing key growth initiatives across all core assets.
At the time of reporting, Beach Energy’s share price was $1.13.