Business · Energy & Commodities · 2 hrs ago
Beach Energy reports record quarterly revenue as production rises 9%
Australian energy company Beach Energy raised production 9% to 5.4 million barrels of oil equivalent in the first quarter of FY27.
Its sales revenue rose 41% from the previous quarter to a record $565 million.
Higher sales volumes and improved gas prices contributed to the result, while the Waitsia Gas Plant returned to full operation after planned maintenance.
Beach also completed offshore abandonment work, helping cut capital spending by 46% to $129 million for the quarter.
The company settled a shareholder class action for $43.5 million, which it said will be fully covered by insurance.
Beach kept its FY27 production and spending guidance unchanged, forecasting production of 19.5 million to 23 million barrels of oil equivalent and capital expenditure of $600 million to $700 million.
It plans to progress gas contracts and projects including Waitsia Inlet Compression and Otway nearshore developments.
Beach Energy reported quarterly production of 5.4 million barrels of oil equivalent, up 9% from the previous quarter.
Sales revenue reached a record $565 million, a 41% increase on the previous quarter.
Sales volumes rose 32% to 6.3 million barrels of oil equivalent, aided by the timing of LNG and oil liftings.
The Waitsia Gas Plant returned to full operation after planned maintenance in September and recorded its highest monthly output in August.
Beach reaffirmed its FY27 production and capital expenditure guidance.
- Who
- Beach Energy Ltd, an Australian energy company.
- What
- It reported quarterly production up 9% to 5.4 million barrels of oil equivalent and record sales revenue of $565 million.
- When
- The results were published on 21 October 2026.
- Where
- Not stated.
- Why
- Not stated.
This story does not have two clearly opposing sides.
The Waitsia Gas Plant recorded a record average monthly production rate of 219 TJ/day.
The Waitsia Gas Plant returned to full operation after planned maintenance.
Beach Energy’s quarterly results were published, reporting record sales revenue and higher production.
- Quarterly production
- 5.4 million barrels of oil equivalent, up 9%
- Quarterly sales revenue
- $565 million, up 41%
- Sales volumes
- 6.3 million barrels of oil equivalent, up 32%
- Average realised gas price
- $11.9 per gigajoule, up 7%
- Total liquidity
- $945 million
- FY27 production guidance
- 19.5–23.0 million barrels of oil equivalent
What people are saying
We delivered a strong start to FY27, with production up 9% to 5.4 MMboe and sales revenue increasing 41% to $565 million for the quarter, which is the highest quarterly sales revenue result ever realised by Beach.