Past year: ▼ 33%(83.5c – 1.29 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
21 July 2026drilling scheduled● Neutral
Operator Omega began mobilising a rig to Canyon-3 to start its 2026/27 Taroom Trough program: four vertical wells, about 30 days each, then one or two horizontals. Beach holds 25% of ATP 2081 (not the Canyon pads), where a third pad is being built. Start was later than planned.
18 Oct 2023drilling result▲ GoodMajor
Tarantula Deep 1 in the Perth Basin is a gas discovery, with 10 m net gas pay above a gas-water contact in 63 m of Kingia Sandstone, at 4,121 m. Results are in line with pre-drill estimates; the well will be suspended for future development.
21 Aug 2023drilling result▲ GoodMajor
Trigg Northwest 1 in the Perth Basin found gas in the Kingia Sandstone: 6 m net pay over a 49 m gross section, at 5,000 m depth. It follows the dry Trigg 1; commerciality is yet to be tested, with two discoveries from the first four wells.
7 June 2023drilling result▼ BadMajor
Trigg 1, the first Beach-operated Perth Basin exploration well (Beach 50%), reached 4,914 m but the Kingia reservoir was too tight to flow gas. It will be plugged and abandoned and the Trigg 2 side-track will not be drilled. A dry hole.
12 July 2022drilling result▲ GoodMajor
Beach completed its seven-well offshore Otway campaign, with Thylacine North 2 finishing in July 2022: one gas discovery at Artisan and six successful development wells, all at or above expectations. Thylacine wells are due online by mid-2023, lifting the Otway Gas Plant towards 205 TJ/d.
20 May 2022resource reserve update▼ BadMajor
Beach deferred the Trefoil development decision in the Bass Basin and will reclassify its reserves to contingent resources at 30 June 2022. It instead prioritises a newly identified Yolla West target, drilling targeted summer 2022/23, with about 50% chance of success.
30 Apr 2021resource reserve update▼ BadMajor
Beach cut Western Flank 2P reserves by 18.4 MMboe net (17.6 MMbbl oil, 7.2 MMboe gas), partly offset by Senex assets. FY21 production guidance fell to 25.2-25.7 MMboe from 26.5-27.5, and the five-year outlook was withdrawn.
22 Mar 2021drilling result▲ GoodMajor
Artisan 1 offshore Victorian Otway (Beach 60% op) found gas: 62.9 m net pay in the Upper Waarre, plus 4.6 m in the Flaxman. Cased as a future producer; CEO said it is at the lower end of pre-drill expectations. Follows November's Enterprise find.
15 Feb 2021resource reserve update▲ GoodMajor
Beach booked net 2P reserves of 21 MMboe (34 MMboe gross) for the Enterprise gas field, discovered in November 2020, with liquids yield above pre-drill expectations. FEED starts in H2 FY21, final investment decision targeted in FY22, first gas H1 FY23.
13 Jan 2021drilling progress report● Neutral
Cue Energy (not Beach) said the rig finished plugging and abandoning Ironbark-1 and left location on 11 January 2021. Cue called the result disappointing; nothing new for Beach.
13 Jan 2021drilling progress report● Neutral
NZ Oil & Gas (not Beach) confirmed the rig has left the Ironbark-1 location, its final update on the unsuccessful well. Nothing new for Beach, which holds 21%.
8 Jan 2021drilling progress report● Neutral
NZ Oil & Gas (not Beach) said plugging and abandonment of Ironbark-1 is proceeding as planned, with rig demobilisation expected within a week. Nothing new on the result.
29 Dec 2020drilling result▼ Bad
Cue Energy (not Beach) reported Ironbark-1 reached 5,618 m, crossing the target interval at 5,275 m with no significant hydrocarbon shows. The well will be plugged and abandoned. Beach holds 21%.
29 Dec 2020drilling result▼ BadMajor
Beach confirmed Ironbark-1 is a dry hole: drilled to 5,618 m, the Mungaroo target at 5,275 m showed no significant hydrocarbon. It will be plugged and abandoned. This ends the Ironbark exploration well in which Beach held 21%; no cost figure given.
29 Dec 2020drilling result▼ Bad
NZ Oil & Gas (not Beach) reported Ironbark-1 hit its target at 5,275 m with no significant hydrocarbon shows through 5,618 m total depth; plugging begins. Its CEO called it very disappointing. Repeats the result Beach also announced.
23 Dec 2020drilling progress report● Neutral
NZ Oil & Gas (not Beach) reported Ironbark-1 at 5,202 m, preparing to case and cement, with total depth now expected by end of December. No results yet; Beach holds 21%.
18 Dec 2020drilling progress report● Neutral
NZ Oil & Gas (not Beach) reported Ironbark-1 at 4,380 m after casing, cementing and a pressure test, now drilling the 12.25-inch hole. No results yet.
11 Dec 2020drilling progress report● Neutral
NZ Oil & Gas (not Beach) reported Ironbark-1 at 4,362 m, with the 16.5-inch hole finished and casing being prepared. No results yet.
4 Dec 2020drilling progress report● Neutral
NZ Oil & Gas (not Beach) reported Ironbark-1 at 3,801 m, still drilling the 16.5-inch hole. Target depth is ~5,668 m; no results yet.
27 Nov 2020drilling progress report● Neutral
NZ Oil & Gas (not Beach) reported Ironbark-1 at 3,040 m, with the 18-inch liner installed and cemented. No results yet; Beach holds 21%.
20 Nov 2020drilling progress report● Neutral
NZ Oil & Gas (not Beach) reported Ironbark-1 at 2,410 m, still drilling the large upper hole section. No results yet; Beach holds 21%.
19 Nov 2020resource reserve update● Neutral
Red Sky (not Beach) published contingent resources for Killanoola, the field Beach is selling: 2C of 2.8 million barrels (1C 0.8, 3C 5.4). No reserves are claimed. No new information on Beach itself.
13 Nov 2020drilling progress report● Neutral
NZ Oil & Gas (not Beach) reported Ironbark-1 at 1,811 m, with the blowout preventer installed and larger hole section under way. Still around 85 days expected in total.
10 Nov 2020drilling result▲ GoodMajor
Beach made a gas discovery at Enterprise 1 in the Victorian Otway Basin (Beach 60%, O.G. Energy 40%): 115 m net gas pay at 4,974 m total depth, about 10% CO2. First Otway exploration success after Black Watch-1; to be cased as future producer, volume estimate by February 2021.
6 Nov 2020drilling progress report● Neutral
NZ Oil & Gas (not Beach) reported Ironbark-1 at 1,583 m after spud and the 26-inch section. Well expected to take around 85 days to reach a ~5,668 m target. Beach holds 21%.
2 Nov 2020drilling spud● NeutralMajor
Cue Energy (not Beach) reported Ironbark-1 began drilling on 31 October 2020, expected to take 70-90 days. Targets a 15 Tcf prospective gas resource (unrisked, undiscovered). Beach holds 21% of WA-359-P.
12 Oct 2020drilling progress report● Neutral
Cue Energy (not Beach) reported the Ocean Apex rig was handed to BP and is moving to the Ironbark-1 location, taking about 10 days. Beach holds 21% of WA-359-P; the well has not yet started drilling.
20 Feb 2020drilling result▼ BadMajor
Tawhaki-1 in offshore New Zealand (Beach 30%, OMV operator) reached 2,980 m with no hydrocarbons in the target reservoir and is being plugged and abandoned. This is a dry hole for the frontier well Beach farmed into in December at about $25m net cost.
21 Jan 2020drilling result● Neutral
Cooper Energy (not Beach) reported the Rincon appraisal concluded, ending the 13-well PEL 92 program. Rincon-3 found a 1.2 m net oil column and is suspended as a future producer; Rincon-2 had oil shows. Field reviews precede any development drilling.
6 Jan 2020drilling result● Neutral
Cooper Energy (not Beach) reported the Butlers appraisal in PEL 92 finished: two wells dry, Butlers-10 and -11 had oil shows in the McKinlay Member, and the Namur was water-wet or swept. Rincon-2 spudded 4 January; a Butlers-11 test is pending.
