Quarterly Activities Report
Adelaide, April 30, 2013 AEST (ABN Newswire) - Beach Energy Limited (
ASX:BPT) announce the Quarterly Activities Report with the following highlights.
Corporate
- Chevron farm-in to Cooper Basin PEL 218 and ATP 855 unconventional acreage
- PEL 106B gas sales agreement ("GSA") finalised with SACB JV, with first gas sales on 19 March 2013
Operations
- Total production of 1.8 MMboe, 2% down on previous quarter, mainly due to lower SACB JV gas production offset by higher oil production
- Sales volumes of 1.9 MMboe, 4% down on previous quarter, mainly due to timing of condensate sales
- Total revenue of $155.6 million, 10% down on previous quarter, mainly due to no condensate sales
- Participation in 22 wells, with a success rate of 68%
- Halifax-1 vertical well flowed gas at up to 4.5 MMscf/d
- Holdfast-2 horizontal well reached total depth and will be stimulated in upcoming program
Subsequent Events
- Major GSA signed with Origin for up to ~139 PJ over eight years, with option for Origin to extend contract for up to ~173 PJ over 10 years
- Bauer to Lycium oil flowline operational, the gross capacity of which is 10,000 bopd
Financial
- Strong balance sheet with $245 million in cash reserves and a multi-option financing facility of $150 million available
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BPT-732690.pdf
Contact
Beach Energy Limited
T: +61-8-8338-2833
F: +61-8-8338-2336
WWW: www.beachenergy.com.au
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