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28 stories mentioning ASX:BPTUpdated 3d ago

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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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