Beach Energy Gains on Strong 1Q Sales Revenue -- Market Talk

Dow Jones
10/20

0052 GMT - Beach Energy's materially higher-than-expected 1Q sales revenue helps to offset poor news on its Hercules exploration well and the potential for slightly higher costs at the Waitsia Stage 2 project, RBC Capital Markets says. Beach's share price rises 4.1% to A$1.135 after reporting 1Q sales revenue of A$537 million, up 18% on three months earlier. The addition of two LNG cargoes from Waitsia boosted revenue. Still, Beach said its Hercules well had failed to find natural gas. RBC expects drilling the well to have cost Beach around A$50 million. Regarding Waitsia Stage 2, it appears to be on target for a late 1Q FY 2026 start. "But we think its timing could still slip slightly," analyst Gordon Ramsay says. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

October 19, 2025 20:52 ET (00:52 GMT)

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