Beach Energy Limited · ASX:BPT
Beach Energy — Macquarie Private Wealth Presentation (September 2009)
21 slides from Beach Energy's conference presentation, Sep 3, 2009
Slide 1: Macquarie Private Wealth Presentation: Beach Petroleum Update
Macquarie Private Wealth Presentation AM Beach Petroleum Update For personal use only Hector Gordon Chief Executive Officer i 3 September 2009 ors tami VY; Sy,
Slide 2: Disclaimer
Disclaimer For personal use only This presentation contains forward looking statements that are subject to risk factors associated with oil, gas, geothermal and related businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety
Slide 3: Company Overview – Key Facts
Company Overview – Key Facts For personal use only Track record of delivery Solid base from which to grow • ASX200 E&P company • 2P reserves of 66 MMboe • A top ranked ASX200 E&P • Contingent resource base of company based on oil and gas 293 MMboe production • Substantial and diverse • Proven manage
Slide 4: FY09 – Stellar Operational Performance
FY09 – Stellar Operational Performance For personal use only • Record NPAT of $260 million: – Normalised NPAT of $64 million • 21% increase on FY08 • Record sales revenue of $581 million • Record production of 9.6 MMboe: • Approx. 26,300 boed • FY09 dividend of 3.75 cents per share: – Interim divide
Slide 5: Recent Highlights
Recent Highlights For personal use only • Continued exploration success in Cooper Basin, especially Western Flank oil: – Eg: Butlers, Perlubie, Perlubie South and Chiton discoveries • Burnside -1 discovery in Browse Basin announced August 2009: – 65 metre gas column • Remain on track for first oil f
Slide 6: Recent Highlights
Recent Highlights For personal use only • Tipton West divestment for up to $400 million: – Received $260 million cash – Sold Arrow Energy shares for approx. $78 million – Contingent payments of up to $70 million • Enhanced Cooper Basin acreage via PEL 218 farm-in • Enhanced balance sheet strength: –
Slide 7: Reserves & Resources Snapshot – June 2009
Reserves & Resources Snapshot – 30 June 2009 For personal use only 2P Reserves: 2P Reserves & Contingent 66 MMboe Resources: 359 MMboe Cooper / Eromanga Gippsland Egypt Gas Gas Liquids Oil 2P Reserves A solid and enviable base from which to grow 7
Slide 8: Exploration Snapshot
Exploration Snapshot For personal use only Drill-Ready / Near-Drill-Ready Prospects: • Approx. 100 August 2009 MMboe of drill- 60 ready & near-drill- Mean un-risked volumes MMboe (Beach share) ready prospects 50 available in the next few years 40 • Figure excludes: 30 – Leads and immature opportunit
Slide 9: Global Portfolio
Global Portfolio For personal use only 1 Spain 2 Albania 3 Egypt 1 2 4 Tanzania 5 Carnarvon & 3 Browse Basins 6 Arrowie Basin 7 Cooper Eromanga Basin 4 10 8 Otway & Bass Basins 5 9 Gippsland Basin 7 6 10 Papua New Guinea 9 8 11 New Zealand 11 9
Slide 10: What Could The Future Hold?
What Could The Future Hold? For personal use only • Base business – developing existing reserves • Convert contingent resources to reserves • Ongoing (and material) exploration success • Acquisitions and divestments • New energy business opportunities Production Time Beach’s existing portfolio has t
Slide 11: Strategy & Key Objectives
Strategy & Key Objectives For personal use only • Consistent, targeted growth: – Long-term cash flow, production and reserves – Value driven investments • Thinking ahead of the pack: – Early entry, low risk, high return – Participation in emerging technologies and opportunities • Balanced exploratio
Slide 12: Cooper Basin – Top Shelf Acreage Position
Cooper Basin – Top Shelf Acreage Position For personal use only • Solid oil and gas production • Ongoing exploration success • Substantial long-term growth potential • An emerging ‘unconventional’ gas play 12
Slide 13: Cooper Basin – Continued Exploration Success
Cooper Basin – Continued Exploration Success For personal use only • Beach operated assets continue to yield discoveries • PEL 92 & 91 (oil): – Perlubie – Perlubie South – Butlers – Chiton (PEL 91) • PEL 106 farm-in block: – Brownlow (gas) – Canunda (gas) • Short discovery to production timeframes f
Slide 14: Cooper Basin Gas – Future Business Opportunities
Cooper Basin Gas – Future Business Opportunities For personal use only • Continuation of exploration and development efforts: – Identify new reserves and resources – Acceleration of production where practical • Conversion of contingent resources to reserves: – 263 MMboe of contingent gas resources •
Slide 15: Cooper Basin – Nappamerri Trough: PEL
Cooper Basin – Nappamerri Trough: PEL 218 For personal use only • PEL 218 Farm-in: – Beach has acquired a 90% interest from Adelaide Energy – Beach has been issued 8 million shares in Adelaide Energy at $0.12 / share – Beach to become the operator • Highly prospective acreage • Close to existing inf
Slide 16: Exploration Strategy
Exploration Strategy For personal use only • Objective is a balanced portfolio: – 60:30:10 risk profile (low / moderate / high) – Timeframe and cost for maturation – Equity participation • Low – moderate risk candidates are generally in the vicinity of proven production: – Eg: Cooper Basin & Gulf of
Slide 17: International Ventures – Strategy & Objectives
International Ventures – Strategy & Objectives For personal use only • Deliver new core production areas to Beach’s portfolio within a reasonable timeframe • Balance of mature to emerging hydrocarbon provinces: – Focus on regions linked by geology or markets • Portfolio to consist of opportunities w
Slide 18: Egypt – Overview & Outlook
Egypt – Overview & Outlook For personal use only • Beach 20% interest • Three existing oil discoveries: – NS 394 (‘Burtocal’) – NS 377 and 385 (‘Nearshore fields’) • First oil expected early CY10 • Burtocal appraisal in FY10 • Teen-1 to be drilled FY10 • Ongoing assessment of other opportunities 18
Slide 19: Tanzania: Overview & Outlook
Tanzania: Overview & Outlook For personal use only • Beach 100%* • Finalisation of Petroleum Sharing Agreement (PSA) in FY10 • Under-explored, emerging hydrocarbon province with high potential • Significant industry success in nearby analogous area (Uganda) • Potential for large (> 200+ MMbbl) disco
Slide 20: FY10 Outlook
FY10 Outlook For personal use only • Production guidance of approx. 9.0 MMboe • First oil from Egyptian ‘Nearshore fields’ in North Shadwan block • Key wells: – Bass Basin: Spikey Beach-1 exploration well – Egypt : Teen-1 exploration well and Burtocal appraisal well • A few other things for investor
Slide 21: For personal use only
For personal use only 21 f aS
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