Beach Energy Limited
TypePublic
IndustryOil and gas
Founded1961 (1961)
FounderReg Sprigg
HeadquartersAdelaide, South Australia
Area served
Key people
  • Morné Engelbrecht (Acting CEO)
  • Anne-Marie Barbaro (Acting CFO)
  • Ian Grant (COO)
Products
Production output
Decrease 4.2×10^6 m3 (26.7×10^6 bbl) of oil equivalent (2020)
RevenueDecrease A$1.650 billion (2020)
Decrease A$501 million (2020)
Total assetsIncrease A$2.820 billion (2020)
OwnerSeven Group Holdings (28.52%)
Websitewww.beachenergy.com.au
Footnotes / references
[1][2]

Beach Energy Limited is an Australian oil and gas exploration and production company based in Adelaide, South Australia. Formerly known as Beach Petroleum, the company changed its name to Beach Energy in December 2009.[3] It is a component of the S&P/ASX 200 index of major Australian companies and in 2020 was the second largest oil producer in Australia after Woodside Petroleum.[4]

Beach was established in 1961,[5] however for many years it was not very successful. After eventually making some discoveries in the Cooper Basin, Beach now holds interests in five producing basins across Australia and New Zealand, including the Cooper Basin, Bass Basin, Otway Basin, Perth Basin and Taranaki Basin.

In 2014, Beach Energy was the largest onshore oil producer in Australia.[6]

In March 2015, it was announced that incoming Beach Energy managing director Rob Cole will assume leadership of the company three months earlier than expected after freeing himself of commitments at his previous firm, Woodside Petroleum.[7]

In November 2016, Beach Energy announced a Western Flank oil discovery within the Poolowanna Formation in ex PEL 91 (Beach 100%).[8]

In September 2017, Beach Energy announced it would acquire Lattice Energy from Origin Energy for $1.585 billion, significantly increasing the company's operations portfolio.[9]

References

  1. ↑ Beach Energy Ltd. "Beach Energy Annual Report 2020" (PDF). Archived (PDF) from the original on 2021-05-22. Retrieved 22 May 2021.
  2. ↑ Changarathil, Valerina (30 April 2021). "Beach Energy investors, including Kerry Stokes' Seven Group, hit by 'transparent' update". The Australian. Retrieved 23 May 2021.
  3. ↑ Beach-ATCO deal may lead to new SA gas-fired power plant The Advertiser, 8 December 2009. Accessed 20 July 2014.
  4. ↑ "Our History". Beach Energy. Retrieved 2021-05-23.
  5. ↑ Archived 2011-07-06 at the Wayback Machine
  6. ↑ Experts needed to develop new oil and gas prospects Sunday Mail, 2 August 2014. Accessed 3 August 2014.
  7. ↑ "Beach Energy boss departing next week". Petro Global News. Retrieved 3 March 2015.
  8. ↑ "Beach makes Western Flank oil discovery". NewsComAu. Archived from the original on 20 December 2016. Retrieved 2 November 2016.
  9. ↑ "Beach Energy buys Origin assets for $1.6b". SBSOnline. Retrieved 28 September 2017.
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