Beach Energy beats FY production guidance

Beach Energy says a strong fourth quarter at its Western Flank site in South Australia will help it beat its full-year production guidance.

The oil and gas explorer produced 6.97 million barrels of oil equivalent in the three months to June 30 to bring annual production to 29.39 mmboe, beating FY19 expectations of 28 mmboe to 29 mmboe.

Beach told the ASX on Wednesday its Western Flank operations recorded a 5.0 per cent fourth-quarter increase in oil output, and a 32 per cent rise in gas production after commissioning the Middleton liquids handling expansion.

AAP

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