Not a lot unexpected.
They are being driven by Queensland - of the 243 kboe (1) the quarter, 197 kboe came out of Kenmore and Bodalla South.
Thats about 2700 bopd per day, of which about 2200 is from Queensland.
No, there isnt a breakdown of the various fields, let alone historical data, so if anyone wants to go and plot field decline curves, bad luck.
No water cut data either.
Total production is 7% higher than last year, with jet pumps @ 800bopd compensating for natural field decline in Kenmore.
Never the less, revenue is healthier, due to the high oil price. They've hedged half of production at A$55.
They appear to have pretty much stopped doing exploration drilling in the Cooper ... from now on, Beach appears to be doing step-outs, and going to play outside the Cooper.
Nothing on estimated reserves for their fields.
The fight between Beach and Stuart for the position of #1 Cooper Junior is over, and Stuart has won.
Ian Whitchurch
Accelerated Farmins Australia
Prefloat Consultants to Merlin Petroleum
0421 864 278
[email protected]
This is not investment advice, and before investing in any of these stocks it is important to read and understand all documentation and seek professional advice.
Footnotes
(1) No, they didnt explicitly say what conversion factor they used for the Otway gas, or what they were being paid for it
beach quarterly
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