Beach Energy Limited (ASX: BPT)
Beach Energy Powers Through FY25 With Operational Strength and Project Delivery
Beach Energy Limited (ASX: BPT) reported solid progress across its operations for the first half of FY25, with production reaching 10.2 million barrels of oil equivalent and sales volumes at 12.3 million. The company generated $990 million in total revenue, supported by an increase in the average price received for gas and ethane, which rose by 18% to $10.5 per gigajoule. Profit after tax was reported at $237 million, while underlying EBITDA came in at $587 million. Shareholders were set to receive a payout of 3.0 cents per share for the half-year performance. Six new wells in the Otway Basin helped restore production to full levels, and the Waitsia Stage 2 development progressed into commissioning. By January 2025, Beach had delivered five LNG swap cargoes, contributing $293 million in revenue. In April, a 5.05% holding was disclosed by Mitsubishi UFJ Financial Group.
For the remainder of the financial year, Beach expects production to fall within a range of 18.5 to 20.5 million barrels of oil equivalent. Planned capital investment is set between $700 million and $800 million. First gas from the Waitsia Stage 2 facility is anticipated in the final quarter of FY25. A 10-well drilling program on the Western Flank is scheduled to start in the first half of FY26, while the Otway Hercules well is also planned for later in the year. Bass Basin output is forecast to increase by 70% from recent intervention work.
Central Petroleum Limited (ASX: CTP)
Central Petroleum Advances NT Gas Strategy with Strong Q3 Execution
Central Petroleum Limited (ASX: CTP) reported a productive March 2025 quarter, underpinned by growth in gas operations across the Northern Territory. The company brought two new Mereenie wells online WM29 in January and WM30 in February adding a combined 9 TJ/day of production capacity. Both wells were completed under budget and ahead of timeline, contributing to a 22% revenue lift for the quarter, which reached $11.4 million. The average gas price rose to $9.78/GJe, up from $8.01/GJe in the prior quarter. Sales volumes remained steady at 1.17 PJe. Cash flow from operations climbed to $3.7 million, while net debt remained low at $0.1 million. A conditional gas agreement tied to the Arafura project expired, prompting a shift to marketing the available 2028 gas supply to new customers.
Looking forward, Central plans to grow production through new drilling at Palm Valley, assess expansion at the Dingo field, and advance optimisation work at Mereenie. Exploration targeting helium and hydrogen also remains a priority, with resource potential identified in sub-salt areas such as Jacko Bore and Dukas. Firm gas contracts running through to 2030, coupled with reduced costs and improved pricing, position Central for steady cash generation and future growth. The company’s operational success, exploration efforts, and financial discipline collectively support its aim to enhance shareholder value and contribute to long-term energy security in the region.
(Source: Company Announcements)
Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.
