Beach Energy Limited (BPT) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Beach Energy Limited FY24 full year results briefing. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Brett Woods, Managing Director and Chief Executive Officer. Please go ahead. Hello and welcome to Beach Energy's FY24 Full Year Results webcast. My name is Brett Woods and I'm the Managing Director and Chief Executive Officer at Beach. Joining me today on the call is Anne-Marie, our Chief Financial Officer, and she will take us through the financials. For today's webcast, I'll provide an overview of the full year results, including progress over the past six months and an update on the outlook for FY25. Anne-Marie will go through the financial results and we will finish the webcast with some Q&A. But before I begin, I would like to take a moment to address the enterprise reserve revisions as highlighted through the announcement this morning. It goes without saying that I'm extremely disappointed to have to convey this news, particularly after flagging reserve revisions two months ago at our strategic review. The strategic review presentation occurred only four days after the enterprise field was bought online with strong production rates. Since then, we have accumulated sufficient pressure data to reassess our pre-production reserve estimates. In normal practice, well pressure performance would be monitored for a significantly longer period before assessing any updates to reserves. However, with the excellent quality of reservoir sands and high production rates observed at enterprise, We hav...