https://www.engineeringnews.co.za

Lattice assets transform Beach's production

24th July 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Oil and gas major Beach Energy has reported a significant jump in production for the full year ended June, with the assimilation of the newly acquired Lattice Energy’s assets into its portfolio.

Beach on Wednesday reported that production in the June quarter reached 6.97-million barrels of oil equivalent, down slightly from the 7.23-million barrels of oil equivalent achieved in the March quarter.

However, for the full year ended June, production reached 29.39-million barrels, up from the 19-million barrels reported in the previous financial year.

Sales volumes in the quarter were up 2%, to 7.69-million barrels, with volumes in the full year increasing from 20.1-million barrels to 31.18-million barrels, while sales revenue increased from A$1.25-billion to A$1.92-billion in the full year.

“This is a strong performance, considering we only completed the Lattice acquisition less than 18 months ago. It is a testament to our diverse portfolio and our dedicated team,” said Beach MD Matt Kay.

“Exceeding expectations over the past 18 months, provides Beach with an excellent platform to accelerate investment in growth across our value-accretive asset portfolio.”

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 
Craig Miller Technical Services (CMTS)
Craig Miller Technical Services (CMTS)

CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.05 0.842s - 140pq - 2rq
Subscribe Now