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Asia

Beach Energy Shareholders Eye Total Shareholder Returns After Dividend Cut, Euroz Hartleys Says

Beach Energy (ASX:BPT) shareholders are now focused on total shareholder returns rather than dividends alone after the oil and gas company slashed its interim dividend by 67%, Euroz Hartleys said in a note on Thursday.The investment firm said investors are watching the company's future capital allocation strategy ahead of its FY26 results and are looking for either a "meaningful" addition to reserves/resources or a return to stronger distributions.The company had an operationally soft fiscal fourth quarter with production coming in at the lower end of guidance. However, it managed to strengthen itself financially, with lower net debt supporting the balance sheet and providing capacity for future growth. The company reported available liquidity of AU$983 million and net gearing of 10.6%.Euroz Hartleys maintained its hold rating on Beach Energy but lowered the price target to AU$1.02 from AU$1.12, citing an updated sum-of-the-parts valuation.

ASX:BPT
Asia

Beach Energy Posts Higher Production in Fiscal Q4

Beach Energy (ASX:BPT) reported production of 4.9 million barrels of oil equivalent (MMboe) in the fiscal fourth quarter, up on last year's 4.6 MMboe, according to a Wednesday filing with the Australian bourse.Fiscal 2026 production was 19.4 MMboe, the filing said.Fiscal 2025 production was 19.7 MMboe, according to a separate filing.Additionally, the company posted quarterly sales volumes of 4.8 MMboe, delivering revenue of AU$400 million, down on last year's 5.9 MMboe for revenue of AU$455 million, per the filing.

ASX:BPT
Asia

Beach Energy CEO Says Domestic Gas Reservation Scheme Risks Stranding Critical Resources

Beach Energy (ASX:BPT) Chief Executive Brett Woods said a domestic gas reservation scheme does not create "a single extra petajoule of natural gas" and risks forcing critical resources to be left underground instead of helping the Australian economy, according to an opinion editorial published in The Australian on Sunday.Woods said the currently proposed domestic gas reservation scheme forces a transfer of revenue from domestic-focused gas producers to a few large wholesale buyers, who are mostly multinational companies that are foreign-owned or run offshore operations, adding that households and small businesses do not buy gas wholesale and therefore do not benefit from forced short-term lower prices.The chief executive said Australia's domestic gas price ranks in the lowest quartile of OECD nations, with recent Rystad Energy analysis showing the cost of marginal supply is expected to rise to about AU$13 to AU$14 per gigajoule to underpin new supply, arguing that a forced price of AU$10 per gigajoule is a signal to stop investing in new projects and will leave southern basins underdeveloped.The company's shares rose more than 1% in recent Monday trade.

ASX:BPT
Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Wednesday.Predictive Discovery (ASX:PDI): -8%, AU$0.86Beach Energy (ASX:BPT): -7%, AU$0.87Orezone Gold (ASX:ORE): -6%, AU$2.28Ora Banda Mining (ASX:OBM): -5%, AU$1.17Alkane Resources (ASX:ALK): -5%, AU$1.52Arafura Rare Earths (ASX:ARU): -5%, AU$0.25Resolute Mining (ASX:RSG): -5%, AU$1.03Genesis Minerals (ASX:GMD): -4%, AU$5.57Catalyst Metals (ASX:CYL): -4%, AU$5.48Capricorn Metals (ASX:CMM): -4%, AU$12.76

ASX 200ASX:ALKASX:ARUASX:BPTASX:CMMASX:CYLASX:GMDASX:OBMASX:OREASX:PDIASX:RSG
Asia

Echelon Resources Extends Kupe Gas Supply Deal With Genesis Energy

Echelon Resources (ASX:ECH) amended its gas supply agreement with Genesis Energy (ASX:GNE, NZE:GNE), extending sales of Kupe gas for an additional three years, according to a Wednesday Australian bourse filing.The revised agreement reflects current market pricing and incorporates inflation-based adjustments throughout the contract period, the filing said.Beach Energy (ASX:BPT) operates the Kupe permit with a 50% interest, alongside Genesis Energy holding 46% and Echelon Resources holding 4%, the filing added.Echelon Resources' shares rose past 1% in recent Wednesday trade. Genesis Energy's Australian shares gained 1%, while its New Zealand's shares shed 1%. Beach Energy's shares tumbled 4%.

ASX:BPTASX:ECHASX:GNENZE:GNE
Asia

Update: ASX Biggest Losers

(Updates to add tickers)Here are the ASX-listed companies with the biggest losses on Friday:Energy Resources of Australia (ASX:ERA): -20%, AU$0.002United Overseas Australia (ASX:UOS): -6%, AU$0.68Tamboran Resources (ASX:TBN): -7%, AU$0.22REA Group (ASX:REA): -4%, AU$141.51News Corp (ASX:NWS): -4%, AU$42.45Viva Energy Group (ASX:VEA): -4%, AU$2.24DigiCo Infrastructure REIT (ASX:DGT): -4%, AU$2.43Tuas (ASX:TUA): -3%, AU$2.62Anteris Technologies Global (ASX:AVR): -3%, AU$13.08Beach Energy (ASX:BPT): -2%, AU$1.06

ASX 200ASX:AVRASX:BPTASX:DGTASX:ERAASX:NWSASX:REAASX:TBNASX:TUAASX:UOSASX:VEA
Asia

Beach Energy Well-Positioned to Pursue Growth Options After 'Sensible Divestment' of Artisan Gas Field Stake, Euroz Hartleys Says

Beach Energy's (ASX:BPT) sale of its 60% stake in the Artisan gas field offshore the Otway Basin in Victoria is a "sensible divestment" and a "rare win-win" deal, Euroz Hartleys said in a Monday note.Beach Energy agreed to sell a 50% interest in the gas field to Amplitude Energy (ASX:AEL) and a 10% interest to O.G. Energy to align both acquirers' overall interest at 50% each.The company also said the La Bella-2 development well will not be drilled, and forecast more than AU$500 million of capital expenditure savings as a result of not pursuing developments at Artisan and La Bella.Amplitude Energy's involvement eliminates the risk of exploration outcomes resulting in the need for expensive carbon dioxide processing capability, while Beach Energy retains future exposure to production through a royalty, Euroz Hartleys said.Given Beach Energy's AU$974 million of liquidity at the close of the fiscal third quarter, the deal provides pro-forma liquidity in excess of AU$1 billion, positioning the company well to pursue inorganic growth of scale in the near-term, the equity research firm said.Euroz Hartleys maintained a hold recommendation on Beach Energy while lowering the price target to AU$1.12 per share from AU$1.15 based on an updated sum-of-the-parts valuation.

ASX:AELASX:BPT
Asia

Amplitude Energy Acquisition of 50% of Artisan Gas Field De-Risks Otway Growth Outlook, Euroz Hartleys Says

Amplitude Energy's (ASX:AEL) acquisition of 50% of the Artisan gas field in the offshore Otway Basin from Beach Energy (ASX:BPT) de-risks the Otway growth outlook for the company, Euroz Hartleys said in a Monday note.O.G. Energy, Amplitude Energy's joint venture partner in the Otway, agreed to acquire a 10% interest in the gas field on the same terms as the company, aligning interests at 50% each.The company's net share of the acquisition consideration consists of an upfront cash payment of AU$58.3 million on completion of the agreement, with a royalty of AU$3.75 per gigajoule on its share of future production.The company can blend Artisan gas field's low-impurity gas with that of the Annie field to meet pipeline standards through the acquisition, saving an estimated AU$100 million in processing infrastructure costs, the financial services firm said.Additionally, the company is buying a de-risked completed production well that is ready to tie-in to its existing operated infrastructure.Euroz Hartleys maintained a buy recommendation on Amplitude Energy while its AU$3.40 price target is under review.Amplitude Energy shares rose more than 2% in afternoon trade on Monday, while Beach Energy shares were down 2%.

ASX:AELASX:BPT
Asia

ASX Preview: Australian Shares Set to Fall on US-Iran Talks Uncertainty; Charter Hall Group Raises Fiscal 2026 Guidance for Operating Earnings

Australian shares are poised to fall on Monday as investors weigh renewed uncertainty over US-Iran talks, with progress on a potential deal to reopen the Strait of Hormuz and address Iran's nuclear program still unclear.Sentiment is also being pressured by a sharp slide in oil prices amid concerns that escalating tensions in the Middle East could still disrupt global shipping routes and weigh on growth.On May 22, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.4%, 0.2%, and 0.6%, respectively.In corporate news, Charter Hall Group (ASX:CHC) increased its fiscal year 2026 guidance for operating earnings to AU$1.03 per security from AU$1 previously.Beach Energy (ASX:BPT) agreed to sell its 50% interest in VIC/L35, containing the Artisan gas field in the offshore Otway Basin, to Amplitude Energy (ASX:AEL).Australia's benchmark index rose 0.4% or 35.3 points to close at 8,657 on May 22.

ASX 200ASX:AELASX:BPTASX:CHC
Asia

Beach Energy Agrees to Sell 50% Stake in Artisan Gas Field

Beach Energy (ASX:BPT) agreed to sell its 50% interest in VIC/L35, containing the Artisan gas field in the offshore Otway Basin, to Amplitude Energy (ASX:AEL), according to a Monday filing with the Australian bourse.Additionally, O.G. Energy agreed to acquire a 10% interest in the gas field on the same terms as Amplitude Energy, aligning interests at 50% each, the filing said.Amplitude Energy's net share of the acquisition consideration consists of an upfront cash payment of AU$58.3 million upon completion of the agreement, with a royalty of AU$3.75 per gigajoule on its share of future production, per the filing.

ASX:AELASX:BPT
Asia

Market Chatter: Beach Energy Might Be Attractive Acquisition Target for LNG Exporters After Australia's Domestic Gas Sale Plan, CEO Says

There is "some risk" of Beach Energy (ASX:BPT) being an attractive acquisition target for some of the larger liquefied natural gas (LNG) exporters due to an Australian government plan to force gas producers to keep a fifth of new production domestically, Bloomberg News reported on Wednesday, citing an interview with the firm's Chief Executive Officer Brett Woods.The government's plan will apply to prospective contracts and the spot market from July 1, 2027. Such a plan risks driving away upstream investment and leading to prices returning to a much higher level, Woods said.Beach's oil and gas portfolio could be appealing to export-focused producers on Australia's east coast, he added.Beach's shares were up 1% in recent trading on Wednesday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:BPT
Asia

Beach Energy's Waitsia Project Production Run-Rate Offers Potential Upside to Reduced Guidance, Euroz Hartleys Says

Beach Energy's (ASX:BPT) fiscal third-quarter results included lower-than-expected production and a cut to guidance, prompting Euroz Hartleys to revise its output forecast for the company to the mid-point of updated guidance, the equity research firm said in a Wednesday note.Euroz Hartleys noted, however, that the Waitsia project's production run-rate and Otway Basin customer nominations through the fiscal fourth quarter offer potential upside to the upper end of the company's guidance.Beach Energy on Tuesday revised its fiscal year 2026 production guidance to between 19.4 million and 20.3 million barrels of oil equivalent from a previous range of 19.7 million to 22 million barrels of oil equivalent.Additional disclosure on Waitsia swap arrangements has provided a clearer outlook, triggering increases in the equity research firm's fiscal year 2027 to fiscal year 2029 earnings forecasts. Euroz Hartleys previously modelled all swaps as to be returned in-kind, but now noted that more than half of them are sell-back arrangements that earn revenue.It maintained a hold recommendation on Beach Energy while lowering its price target to AU$1.15 per share from AU$1.18, based on an updated sum-of-the-parts valuation.Beach Energy shares fell 1% in recent Wednesday trade.

ASX:BPT
Asia

Beach Energy's Western Australia Gas Plant Reaches Nameplate Capacity

Beach Energy's (ASX:BPT) Waitsia gas plant in Western Australia reached nameplate capacity of 250 terrajoules per day, according to a Wednesday statement from the company.Waitsia is a joint venture project with operator MEPAU, and Beach holds a non-operated interest.The plant has the capacity to deliver the equivalent of nearly one quarter of the state's domestic natural gas demand, per the statement.The company's shares fell 1% in recent trading on Wednesday.

ASX:BPT
Asia

Beach Energy Q3 Results and 2026 Production Outlook Disappoint, Says Euroz Hartleys

Beach Energy's (ASX:BPT) third-quarter operational results were below market expectations, with a disappointing cut to production guidance, Euroz Hartleys said Tuesday in a note.The results were impacted by a weaker-than-expected ramp-up at its Waitsia project, heavy rainfall in the Cooper Basin, and reduced customer nominations in the Otway Basin.The company produced 4.8 million barrels of oil equivalent in the quarter ended March 31, missing consensus by 6% despite a 7% quarter-on-quarter jump. It also revised its 2026 production guidance to 19.4 million to 20.3 million barrels of oil equivalent, from 19.7 million to 22 million barrels of oil equivalent.The investment firm said some organic growth has been achieved via newly acquired exploration areas in a few east coast basins, giving longer-term growth and diversification. However, significant growth from major resource addition or production increases has yet to be delivered."The market will be anticipating this, or be holding out for more fruitful shareholder returns," it added.Euroz Hartleys maintained a hold rating and price target of AU$1.18, both under review with a downside bias due to the softer production outlook.

ASX:BPT
Asia

Australian Shares Decline; European Lithium Signs Agreement to Combine With Nasdaq-Listed Critical Metals

Australian shares declined at Tuesday's close as markets faced uncertainty as the stalemate in the talks to end the conflict in the Middle East continued.The S&P/ASX 200 Index fell 0.64%, or by 55.70 points, to close at 8,710.70.Brent crude oil futures rose 1% to reach $109.52 per barrel. The Strait of Hormuz continued to be closed, and the US was reviewing Iran's latest proposal to resolve the conflict in the Middle East.On the domestic front, the ANZ-Roy Morgan Australian consumer confidence rose 3.5 points to 67.8 in the week of April 20 to April 26.Headline inflation is forecast to have risen 1.4% quarter-on-quarter, partly due to higher fuel prices in March, and the Reserve Bank of Australia is still expected to lift the cash rate by 25 basis points at its May meeting, according to ANZ economist Sophia Angala.In company news, European Lithium (ASX:EUR) signed an agreement to combine with Nasdaq-listed Critical Metals through the acquisition of all of the company's issued securities via a scheme of arrangement at an exchange ratio of 0.035 Critical Metals shares for each European Lithium share, with each shareholder receiving Critical Metals scrip at an implied value of AU$0.58 per European Lithium share held, if the proposal is implemented. Its shares soared 46% at market close.Whitehaven Coal (ASX:WHC) said managed run-of-mine (ROM) production reached 9.5 million tonnes in the fiscal third quarter ended March, including 4.1 million tonnes from Queensland and 5.4 million tonnes from New South Wales. Its shares closed up 4%.Lastly, Beach Energy (ASX:BPT) produced 4.8 million barrels of oil equivalent in the quarter ended March 31, slightly down from 4.9 million barrels of oil equivalent in the same period last year. Sales volumes fell to 5.3 million barrels of oil equivalent from 6.4 million barrels of oil equivalent, while sales revenue was down to AU$419 million from AU$552 million. Its shares were down 1% on market close.

ASX 200ASX:BPTASX:EURASX:WHC
Asia

Beach Energy Posts Lower March Quarter Production; Lowers Fiscal Year 2026 Outlook

Beach Energy (ASX:BPT) produced 4.8 million barrels of oil equivalent in the quarter ended March 31, slightly down from 4.9 million barrels of oil equivalent in the same period last year, according to a Tuesday filing with the Australian bourse.Year-to-date production in the current fiscal year was 14.4 million barrels of oil equivalent.Sales volumes fell to 5.3 million barrels of oil equivalent from 6.4 million barrels of oil equivalent, while sales revenue was down to AU$419 million from AU$552 million.Capital expenditure incurred was AU$126 million, down from last year's AU$166 million.The company revised its fiscal year 2026 production guidance to 19.4 million to 20.3 million barrels of oil equivalent from 19.7 million to 22 million barrels of oil equivalent, while keeping its capital and abandonment expenditure guidance unchanged.The company's shares fell 1% in recent Tuesday trade.

ASX:BPT
Asia

ASX Preview: Australian Shares Set to Fall as Oil Prices Surge on Stalled US-Iran Talks; Beach Energy Posts Lower March Quarter Production

Australian shares are poised to fall on Tuesday as oil prices surged to multi-week highs amid stalled US-Iran peace talks and ongoing disruptions in the Strait of Hormuz that have tightened global supply and stoked inflation concerns.Overnight, the S&P 500 and the Nasdaq Composite rose 0.1% and 0.2%, respectively, while the Dow Jones Industrial Average fell 0.1%.In the macroeconomy, the ANZ-Roy Morgan Australian consumer confidence rose 3.5 points to 67.8 in the week of April 20 to 26, ANZ reported Tuesday.In corporate news, Beach Energy (ASX:BPT) produced 4.8 million barrels of oil equivalent in the quarter ended March 31, slightly down from 4.9 million barrels of oil equivalent in the same period last year.Deep Yellow (ASX:DYL) said detailed engineering at its Tumas project in Namibia progressed to 68% complete, with bulk earthworks 91% complete and civil construction expected to commence in the next quarter.Australia's benchmark index fell 0.2% or 20.1 points to close at 8,766.40 on Monday.

ASX 200ASX:BPTASX:DYL

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