Beach Energy revenue hits record A$565 million

Key Facts

Beach Energy reported record sales revenue of A$565 million for the quarter ended September 2026, up 41% from the previous quarter, according to its activities report. The result came in the first quarter of the company's 2027 financial year, as sales volumes rose and production improved across its operating regions. Sales volumes increased 32% from the previous quarter, while prices and shipments supported revenue during the period, according to the report. The company had reported revenue of A$400 million for the quarter ended June 2026, according to its activities report for that period. Sales volumes in the June quarter were 4.8 million barrels of oil equivalent, the quarter against which the company compares its latest sales and revenue growth.

On operations, Beach Energy said in its September-quarter report that "production rose 9% quarter on quarter to 5.4 million barrels of oil equivalent." The company attributed the production growth to well connections in the Western Flank and improved operations in the Otway and Bass regions during the first quarter of its financial year. Western Flank production rose 15% from the previous quarter, alongside well connections that the company cited among the drivers of improved operations. Otway recorded a quarterly production increase of 20%, contributing to the rise in total output during the period ended September. Bass production rose 55% from the previous quarter, recording the highest growth rate among the operating regions mentioned in the company's report.

In its gas business, Beach Energy's average realised price was A$11.9 per gigajoule during the September 2026 quarter, according to the activities report. Liquefied natural gas sales generated revenue of A$115 million during the same period, contributing to the company's quarterly sales total. Those sales came in a quarter when prices and shipments supported revenue, alongside quarterly growth in sales volumes. In gas balances associated with the North West Shelf project, net overlift attributable to Beach Energy's interest stood at 11 petajoules at the end of the September quarter, according to the report. These developments in the gas business coincided with quarterly revenue exceeding the level in the corresponding quarter of the previous year, when the company recorded sales of A$537 million.

A comparison with the September 2025 quarter showed sales volumes at that time were 6.8 million barrels of oil equivalent, according to the company's report for the first quarter of the previous financial year. In the financial section of the latest report, capital expenditure totalled A$129 million during the quarter ended September 2026. Beach Energy also recorded expenditure on well and facility decommissioning of A$96 million during the same period, according to its disclosed figures. On the balance sheet, the company's net debt stood at A$425 million at the end of September, alongside the announcement of its quarterly sales and production results. Total liquidity at the end of the same month stood at A$945 million, according to the activities report, alongside the disclosed debt balances and expenditure figures.

As background to developments in its gas operations, Beach Energy announced in April 2026 that the Waitsia plant had reached its nameplate capacity of 250 terajoules per day. The company said in its announcement at the time that "the gas plant reached its nameplate capacity of 250 terajoules per day," ahead of the operational developments covered in the September report. Waitsia subsequently underwent maintenance, and its restart was delayed until 8 October, according to the company's first-quarter activities report. The restart date fell after the end of the period covered by the September results, in the second quarter of the company's 2027 financial year. The sequence of developments at the plant thus included reaching the nameplate capacity announced in April, followed by maintenance and a restart in October, according to Beach Energy's disclosures.

Looking ahead, Beach Energy expects one liquefied natural gas cargo during the second quarter of its 2027 financial year, according to its activities report. In its outlook for the following period, the company said it expected "one liquefied natural gas cargo," specifying the size of the anticipated shipping programme for that quarter. This outlook covers the financial period in which Waitsia restarted in October following its delayed return from maintenance. On upcoming corporate dates, Beach Energy scheduled its annual general meeting for November 2026, according to the calendar published on its website. The meeting is scheduled for 11 November 2026, following the announcement of first-quarter results and liquefied natural gas shipment expectations for the following quarter.