Beach Energy Limited · ASX:BPT
Beach Energy — Macquarie Australia Conference 2022
19 slides from Beach Energy's conference presentation, May 4, 2022
Slide 1: Macquarie Australia Conference
4 M AY 2 0 2 2 Macquarie Australia Conference
Slide 2: Compliance statements
Compliance statements Disclaimer Reserves disclosure This presentation contains forward-looking statements, including statements of current intention, opinion and predictions Beach prepares its reserves and resources estimates in accordance with the 2018 update to the Petroleum Resources regarding t
Slide 3: Beach Energy value proposition
Beach Energy value proposition Delivering material growth DELIVERING NOW FY24 TARGET GROWTH BEYOND FY24 OGP1 capacity increased OGP increase to full capacity Perth Basin exploration Last offshore well spudded Waitsia LNG shipments Otway exploration Waitsia ~50%2 complete Moomba CCS3 Cooper Basin oil
Slide 4: Beach Energy portfolio
Beach Energy portfolio Targeting 28 MMboe production in FY24 from five basins H1 FY22 Production: 11.0 MMboe Liquids Oil 22% Gas 37% East 63% H1 FY22 Coast Condensate production 7% gas 11.0 MMboe 49% 8% LPG 9% 5% Kupe gas West Coast gas FY22 Guidance: 21.0 – 23.0 MMboe 4
Slide 5: Diversified basin exposure
Diversified basin exposure Production growth built on existing facilities and markets Perth Basin Otway Basin Bass Basin Taranaki Basin Cooper Basin Cooper Basin JV Western Flank Ownership 50%*,1 60%* 88.75%*,2 50%* ~35.2%3 ~100%*,4 Prize Petroleum Genesis Energy (46%), Santos (various Cooper Energy
Slide 6: Exposure to five commodity markets with attractive fundamentals
Exposure to five commodity markets with attractive fundamentals Underinvestment in new supply, strengthening demand and energy security concerns East Coast Gas market Global Oil and Liquids West Coast Gas market NZ Gas market Global LNG ▪ Supplying ~12% annual ▪ Supplying ~2% of WA ▪ Supplying ~8% a
Slide 7: Health, safety and environment (HSE)
Health, safety and environment (HSE) A continual improvement focus Safety performance (TRIFR1) Environmental performance 15.6 Crude/hydrocarbon spill volume (kl) 51.9 9.7 7.9 5.9 5.7 3.8 3.5 3.5 4.1 3.7 3.9 2 1.9 2.1 18.9 9.6 0.2 0.1 0.1 1.8 0.2 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY15 FY16 FY17
Slide 8: Targeting 28 MMboe production in FY24 - FY22 key deliverables
Delivering now Targeting 28 MMboe production in FY24 FY22 key deliverables Deliverables Progress 1 Bring Kupe Compression Project online Achieved in September 2021 2 Drill and connect Geographe 4/5 wells to the Otway Gas Plant Achieved in December 2021 – OGP capacity increased 3 Drill four Thylacine
Slide 9: Targeting 28 MMboe production in FY24 - FY23/24 key deliverables
Delivering now Targeting 28 MMboe production in FY24 FY23/24 key deliverables Deliverables Connect Thylacine wells to OGP – targeting first gas mid-CY2023 Construct Enterprise pipeline – targeting first gas mid-CY2023 Complete Waitsia Stage 2 construction and commence LNG exports – targeting H2 CY20
Slide 10: Moomba Carbon Capture and Storage
Sustainable business Moomba Carbon Capture and Storage Final Investment Decision taken ▪ Beach sanctioned transformational emissions reduction project following independent review ▪ Material abatement project for Beach to reach Net Zero aspiration (Scope 1 and 2), commencing in 2024 o Up to 1.7 mill
Slide 11: Fully funded to deliver major capital programs
Strong Balance Sheet Fully funded to deliver major capital programs Targeting peak gearing of <10%1 Available Liquidity ($ million) 673 Successful debt facility 607 ▪ Net cash position of $7 million as at 31 March 2022 refinance to $600 million ▪ Total liquidity of $607 million includes $440 million
Slide 12: Perth Basin
Growth beyond FY24 Perth Basin Targeting commencement of LNG sales in H1 FY24 Asset Details ▪ Interest: 50% and operator of Beharra Springs (JV participant Mitsui); 50% of Waitsia (JV participant and operator Mitsui) ▪ Asset Life: >15 years ▪ Current Facilities: Xyris Gas Plant (Waitsia Stage 1A) ~2
Slide 13: Perth Basin exploration
Growth beyond FY24 Perth Basin exploration Trigg 1 the first operated exploration well in FY23 Trigg Prospect Lockyer Deep W E SW NE ▪ Trigg 1 on-trend and up-dip from West Erregulla discovery ▪ Same Kingia and Wagina reservoirs Intra ▪ Compelling analogue to Lockyer Deep CCM ▪ Success would lead to
Slide 14: Victorian Otway Basin
Growth beyond FY24 Victorian Otway Basin Investing to return the Otway Gas Plant to 205 TJ per day nameplate capacity Asset Details ▪ Interest: 60% and operator (JV participant O.G. Energy) ▪ Asset Life: >15 years ▪ Facility: Otway Gas Plant (~205 TJ per day capacity) Recent Highlights ▪ H1 FY22 pro
Slide 15: Offshore Otway Basin exploration
Growth beyond FY24 Offshore Otway Basin exploration Multiple seismic-amplitude supported prospects Artisan ▪ 100% success rate from seismic amplitude supported wells in Beach acreage1, including: Offshore Otway Basin Acreage2 ▪ La Bella, Geographe, Thylacine, Halladale, Hercules Enterprise, Artisan
Slide 16: Nearshore Otway Basin exploration
Growth beyond FY24 Nearshore Otway Basin exploration Short-cycle opportunities; 3D seismic planning underway Nearshore Otway Basin Acreage1 ▪ Enterprise discovery drilled from onshore well pad to offshore reservoir ▪ 4.9 km directional well ▪ High-value liquids-rich gas with direct tie-in to the Otw
Slide 17: Potential Bass Basin development
Growth beyond FY24 Potential Bass Basin development Yolla West infield drilling opportunity ▪ 2021 seismic reprocessing using latest technologies 2014 Interpretation 2021 Interpretation Bass Basin Acreage2 revealed an undrilled fault block, Yolla West ▪ Drillable from the existing Yolla platform ▪ I
Slide 18: Cooper Basin exploration and development
Growth beyond FY24 Cooper Basin exploration and development Western Flank oil exploration to inform next phase of appraisal ▪ No material oil exploration in the Western Flank for over five years ▪ 24 prospects matured to drillable status in FY22 ▪ Oil exploration commenced in H2 FY22 ▪ 11-well campa
Slide 19: Beach Energy Limited contact details
Beach Energy Limited Level 8, 80 Flinders Street Adelaide SA 5000 Australia T: +61 8 8338 2833 F: +61 8 8338 2336 beachenergy.com.au Investor Relations Derek Piper, General Manager Investor Relations T: +61 8 8338 2833