Beach Energy Ltd

BPT: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$5.90	Xzhl	Khlbfngm

Beach Energy: More Skeletons in BassGas and Kupe Downgrades. Is the Slate Now Clean?

Mark Taylor

Jun 21, 2024

Our AUD 2.40 fair value estimate for no-moat Beach Energy stands. We think group operating and capital cost savings will offset forecast production cuts for BassGas and Kupe. The midsize oil and gas producer says AUD 135 million of more than AUD 150 million in planned operating and maintaining capital cost reductions have already been delivered, including more than 75% of an intended 30% headcount reduction. The planned operating cost reduction equates to around 20%.

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