Higher Gas Pricing and Lower Costs Offset 3Q Production Decline for Beach, No Change in View
We maintain our AUD 0.66 per share fair value estimate for no-moat Beach. Our fiscal 2017 and 2018 EPS forecasts are unchanged at AUD 0.08 and AUD 0.06, respectively. Lower-than-expected third-quarter production, down 8% to 1.3 million barrels of oil equivalent, or mmboe, was offset by higher-than-anticipated gas pricing of AUD 6.28/GJ, and lower-than-expected exploration expenditure of AUD 7.7 million. Higher gas prices reflect new Western Flank sales agreements and expiry of legacy Cooper Basi...Beach Energy is engaged in oil and gas exploration, development and production and investment in the resources industry. Co.'s operating segments include Cooper Basin, which includes oil and gas sales from Australian production; Other Australia, which includes Co.'s interest in all on-shore and off-shore production and exploration tenements within Australia other than the Cooper Basin; and International interests, which includes Co.'s interests in all areas outside Australia and oil and gas sales from Egyptian production. As of June 30 2016, Co. had total proved and probable reserve estimate of 69.8 million barrels of oil equivalent.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.