Beach Energy revenue jumps 41% to $565M

• Beach Energy recorded a 9% quarter-on-quarter increase in production to 5.4 MMboe and a 41% jump in quarterly sales revenue to $565 million.
• Shares in the energy producer traded up at $0.94 following the quarterly update.
• Increased reliability at the Waitsia Gas Plant, alongside strong gas pricing and portfolio optimisation, backed the record quarterly revenue result.

Beach Energy (ASX:BPT) generated record quarterly sales revenue of $565 million for the period ended Sept. 30, driven by a 9% quarter-on-quarter rise in production to 5.4 MMboe.

This performance reflects a strong operational rebound following the previous fiscal year, where full-year sales revenue fell 10% to $1.80 billion.

“We delivered a strong start to FY27, with production up 9% to 5.4 MMboe and sales revenue increasing 41% to $565 million for the quarter, which is the highest quarterly sales revenue result ever realised by Beach,” said Beach Energy Managing Director and CEO Brett Woods.

The company maintained its full-year FY27 production guidance of 19.5 to 23.0 MMboe and capital expenditure targets between $600 million and $700 million, while noting that no further material offshore abandonment spend is expected before the mid-2030s.

Following the announcement, the Beach Energy share price was up to $0.94.

The Adelaide-based oil and gas supplier operates production hubs across the Otway, Cooper, Perth, and Bass basins to supply energy across domestic and international markets.

The company recently reached key operational milestones, including completing its Equinox offshore decommissioning campaign and returning the Waitsia Gas Plant to full production rates following a scheduled statutory shutdown.