Sydney-listed Beach Energy on January 27 said its sales revenue during the three months to December 31 (Q2) was A$344mn (US$266mn), down 25.5% year/year thanks to lower output and realised oil prices. The revenue was down 5% quarter/quarter.  

Production came to 6.20mn barrels of oil equivalent, down from 6.44mn boe in the same period of the previous year owing to the Otway gas plant maintenance shutdown in November. The production was down 8% q/q, Beach said.  

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The average realised oil price during Q2 was A$65.3/barrel as against A$105.9/b in the year-ago period. The average realised oil price rose 1% q/q. The average realised price across all products was A$53.4/boe, down 23% yr/yr but up 3% q/q.  

Beach’s Q2 capital expenditure was A$180mn, down from A$209mn in the year-ago period. The capital expenditure was up 33% q/q, the company said.  

Beach said it plans to update the full-year guidance at the half-year result on February 15, which will include the recent acquisitions of Senex Energy’s Cooper basin and Mitsui’s Bass basin assets.