Past year: ▼ 33%(83.5c – 1.29 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
1 May 2013drilling progress report● Neutral
Senex's April report covers its own wells. For Beach's 40% Growler/Snatcher JV: Growler-5 is back on production after a workover, and Snatcher-9 completion has begun, with production expected at the start of the September quarter.
22 Apr 2013drilling result▲ GoodMajor
Cooper Energy reports Rincon North-1 is an oil discovery in PEL 92 (Beach 75% operator), with a gross oil column of up to 7m. Sharples-1 reached 1,961m with no significant shows and will be plugged and abandoned. Wyomi-1 is next.
17 Apr 2013drilling progress report● NeutralMajor
Beach updates its unconventional program: Moonta-1 is down to 0.7 MMscfd after four months, Halifax-1 is at 1.7 MMscfd, and the second batch frac is delayed to May. PEL 218 and ATP 855 are described as pending Chevron farm-in; pilot production is now toward end of 2014.
17 Apr 2013drilling result▲ Good
Rincon North-1 in PEL 92 will be cased for future oil production after a drill stem test confirmed further McKinlay pay (10.5 barrels recovered, no flow to surface). Beach is 75% operator.
15 Apr 2013drilling result▲ Good
Cooper Energy reports Rincon North-1 (PEL 92, Beach 75% operator) reached 1,899m with up to 2m of oil pay on logs, and the McKinlay will be production tested. Sharples-1 spudded 13 April.
8 Apr 2013drilling spud● Neutral
Cooper Energy reports Rincon North-1 in PEL 92 (Beach 75% operator) spudded 6 April, targeting the Namur Sandstone near the 2011 Rincon-1 oil discovery. It is the first well of the six-well campaign.
5 Apr 2013drilling progress report▲ Good
Drillsearch's March report: Kalladeina-2 (Beach 40%) has good oil shows in mud logs in the primary target. Bauer-to-Lycium pipeline commissioning planned early May. Wet gas production resumed 17 March; Canunda tie-in due June quarter. Mostly repeats known operator information.
4 Apr 2013drilling scheduled● Neutral
Drillsearch (60% partner) announces a four-well PEL 91 oil exploration program, operated by Beach (40%), targeting 4-9 million barrels combined unrisked recoverable. Kalladeina-2 spudded 1 April; later wells depend on its result. Resumes Western Flank oil exploration.
3 Apr 2013drilling progress report● Neutral
Beach's March report: Halifax-1 peaked at 4.2 MMscfd but is now flowing 1.8 MMscfd unconstrained. Holdfast-2 horizontal cased with about 600m of horizontal section. Sawpit-2 in PEL 495 plugged and abandoned with minor shows; Achilles-1 (30%) dry. Kalladeina-2 spudded.
27 Mar 2013drilling scheduled● Neutral
Cooper Energy, 25% partner in Beach-operated PEL 92, says a six-well campaign is about to start: four exploration/appraisal wells, starting with Rincon North-1, and two Callawonga development wells. It continues the program flagged in January; completion is targeted by end of June.
18 Mar 2013drilling result▼ BadMajor
Sawpit-2 (PEL 495, Otway Basin) reached 2,585m and found no pay in the Sawpit Sandstone target, so it will be plugged and abandoned. Gas shows in the Casterton Shale keep the unconventional idea alive. Beach, paying 70% to earn 35%, operated the well.
6 Mar 2013drilling progress report● Neutral
Drillsearch's February report: Bauer-to-Lycium pipeline built, with tie-ins due April, and Hanson facility commissioning under way. Tibor-1 (Drillsearch only) was dry. Euler-1 in PEL 106B (Beach 50%) is still scheduled for June. No new Beach result.
6 Mar 2013drilling progress report● Neutral
Cooper Energy reports Sawpit-2 (PEL 495, Beach operating drilling, paying 70% to earn 35%) at 2,142m. The Sawpit Sandstone showed only minor shows. Cores are planned over the shales to test unconventional potential.
6 Mar 2013drilling progress report● Neutral
Beach's February report: Halifax-1 peaked at 4.2 MMscfd. Nepean-1 is cased pending April stimulation, and Holdfast-2, the first horizontal well, is drilling. Sawpit-2 spudded, Rheims-2 (Beach 30%) was dry and Al Ahmadi-2 finished drilling in Egypt. Mostly known results.
25 Feb 2013farm in farm out agreement▲ Good
Icon welcomes Chevron into ATP 855 and confirms Beach finished its 2011 farm-in commitments. Halifax-1 flowed gas at a constrained 2.23 MMscfd. Icon keeps 40% and holds the US$18m put option over 4.9%, exercisable to 30 June 2013.
25 Feb 2013farm in farm out agreement▲ GoodMajor
Beach farms out up to 60% of PEL 218 and ATP 855 to Chevron for potentially US$349m over two stages, via cash, carries and a US$35m bonus. Chevron can withdraw after each stage. Beach also grants Icon a put option for 4.9% of ATP 855 at US$18m.
19 Feb 2013drilling spud● Neutral
Cooper Energy reports Sawpit-2 spudded 18 February 2013 in PEL 495, Otway Basin, targeting the Crayfish group to 2,558m over about 30 days. Beach is paying 70% to earn 35% and operates the drilling. Hector Gordon now works at Cooper Energy.
7 Feb 2013drilling progress report● Neutral
Icon says Halifax-1 is cleaned out and flowback should start within days, with stabilised rates expected later in Q1 2013. Repeats operator information already known; no new result.
6 Feb 2013drilling progress report● Neutral
Drillsearch's January report: Bauer McKinley sands tested oil with no water; Bauer-Lycium pipeline has 9km left to lay. In PEL 106B, Rosetta-1 and Destress-1 were plugged and abandoned; Euler-1 due in June. Triclops-1 (Drillsearch only) was dry.
6 Feb 2013drilling progress report● Neutral
Senex's January report: Snatcher-6 and -7 now producing; Snatcher-9 completion moves to the June quarter. Spitfire-2 (Beach 40%) is in initial production testing and Mustang-1 continues at over 800 bopd. No new Beach result.
6 Feb 2013drilling progress report▼ Bad
Beach's January report: Moonta-1 now at 1.2 MMscfd; Streaky-1 flow test slips to early April after equipment stuck in hole. Rosetta-1 and Destrees-1 in PEL 106B plugged and abandoned, leaving Euler-1 in June. Cudgel-1 dry, closing the T66 oil program.
3 Jan 2013drilling progress report● Neutral
December report: Moonta-1 gas flow rose to 2.1 MMscfd. Coorabie-1 (PEL 106B, 50%) failed to flow gas and was cased and suspended, contradicting the earlier wet gas hopes. Holdfast-2 reached 2,961m; Halifax-1 half-stimulated, Streaky-1 flow test now early February. Zeus-7 cased; Paspa-1 plugged and abandoned.
3 Jan 2013drilling result▼ Bad
Drillsearch (50% partner) reports Coorabie-1 in PEL 106B, Beach operator with 50%, cased and suspended after a drill stem test recovered only a small amount of liquid-rich gas from tight sands. Rig moves to Rosetta-1, the second of four wells.
19 Dec 2012drilling progress report● Neutral
Senex's fortnightly report: Paning-2 spudded 15 December in PEL 90 (Senex 100%), starting its 12-well unconventional program. Snatcher-6 production starts and Growler-5 was re-completed with a pump. Beach (40%) has no new result; this is mostly Senex's own program.
13 Dec 2012drilling spud▲ GoodMajor
Beach spudded Holdfast-2 on 10 December in PEL 218 (100%), the first horizontal unconventional well in the Cooper Basin. It will drill about 1.6 km laterally through the Murteree Shale and be fracced in about April 2013. Beach targets a pilot production program by second half 2013.
13 Dec 2012drilling spud● Neutral
Drillsearch reports Coorabie-1 spudded 13 December, first of a four-well wet gas campaign in PEL 106B (Beach 50% operator). Targets the Patchawarra, with high-side prospective resource of up to 31.57 BCF. Drilling expected to take 14-18 days.
6 Dec 2012drilling progress report▲ Good
Icon (40% partner in ATP 855P) says the 15-stage Halifax-1 frac starts mid-December, with Queensland approvals in place. Flow testing runs several weeks, then again in early 2013. Icon expects a significant 2C booking in Q1 2013 if tests succeed, which would be Icon's guidance, not Beach's.
5 Dec 2012drilling progress report● Neutral
Beach's November drilling report: Moonta-1 frac completed with flow testing due early December; Streaky-1 fracs under way; Marble-1 reached 3,962m. Also covers Bauer-9, the Pennington oil discovery and Snatcher-9 and Spitfire-2 oil pay. Mostly repeats known results.
5 Dec 2012drilling progress report● Neutral
Senex's fortnightly report: Mustang-1 (Beach 40%) began extended testing on 30 November after flowing over 2,400 bopd, later constrained to about 800 bopd. Spitfire-2 cased; Snatcher-8 completed; Snatcher-9 and -10 completions follow after Christmas. Mostly Senex's gas program; no new Beach result.
3 Dec 2012drilling result▲ Good
Drillsearch (60% partner) confirms Pennington-1 as a Namur oil discovery, likely over 2 million barrels gross recoverable, supporting a further rise on its 11.3 MMbbl 2P reserves. Birkhead open-hole test was skipped due to hole conditions; cased-hole tests follow in coming months.
