Key facts
- Beach Energy forecasts oil and gas output of 19.5 million to 23 million barrels of oil equivalent (boe) for the July 2026-June 2027 fiscal year.
- This represents an increase from the 19.4 million boe produced in the 2025-26 fiscal year.
- The production increase is driven by higher volumes from the Waitsia gas plant in Western Australia.
- Beach Energy's underlying net profit decreased by 21% to A$355 million ($250 million) in the past fiscal year.
- The company has A$983 million in available liquidity for potential acquisitions.
Australian independent Beach Energy plans to increase its oil and gas production in the fiscal year ending June 2027, forecasting output between 19.5 million and 23 million barrels of oil equivalent (boe), up from 19.4 million boe in the previous fiscal year. This projected rise is primarily due to increased volumes from the company's Waitsia gas plant in Western Australia, which has reached capacity.
Despite the production outlook, Beach Energy's underlying net profit for the past fiscal year declined by 21% to A$355 million ($250 million), impacted by lower sales revenue, flood damage in the Cooper Basin, and a decline in offshore Otway basin assets.
The company's capital management strategy includes growing reserves organically and through acquisitions, supported by A$983 million in available liquidity. Beach Energy is targeting final investment decisions for a two-well exploration campaign in the Otway basin and for the Waitsia inlet compression project in the first half of its 2026-27 fiscal year and early 2027, respectively.
Beach Energy also holds a 25% stake in an exploration permit in Queensland, with operator Omega Oil and Gas planning a two-well campaign. The company has expressed strong opposition to the federal government's planned domestic supply obligation (DSO) for LNG producers, with CEO Brett Woods advocating for a fair system and noting that the ACCC suggests A$12-13/GJ gas prices are needed to support the market. Negotiations on the DSO design are ongoing, with a final outcome expected by the end of 2026.