Beach Energy Limited (ASX: BPT) released its first quarter (Q120) activities report. The FY20 guidance remains unchanged from the previous disclosure with production of 27 to 29 MMboe at a capex of $750 to $850 million, among others.
- Quarterly sales volume was 6,763 kboe, 12% lower than the prior quarter.
- The total sales revenue was $438 million, 13% lower than the prior quarter.
- Average realised price across all products was $64.8/boe, 1% lower than the prior quarter.
- At the quarter-end, BPT had cash reserves of $218 million.
By 2:09 PM AEST, BPT was trading at $2.41, up by 2.7% relative to the last close.