The acquisition of the Lattice Energy assets from Origin Energy made Beach Energy Ltd (ASX: BPT) was not only transformational for the company but also made it a multi-basin producer with scale in Australia and New Zealand.
This point was emphasised by the company in its presentation last week at the Macquarie investment conference.
Beach’s third quarter production saw a 150% lift to 6.6 mmboe and sales revenue of $A393 million.
The company’s pro forma production guidance for the year has been lifted marginally to between 26-27 MMboe.
The presentation detailed the improved pricing for gas and said the current spot price was $A8 per gigajoule.
Beach said looking ahead the objective was to sustain and optimise production, and this takes in high impact exploration on targets including Ironbark and Bonaparte in Australia and on the Kupe field in New Zealand.