Beach Energy Limited (BPT) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

I would now like to hand the conference over to Mr. Brett Woods, Managing Director and Chief Executive Officer. Please go ahead. Good morning, everyone, and welcome to Beach Energy's FY26 full-year results presentation. Joining me today is Anne-Marie Barbero, our Chief Financial Officer. Together, we will take you through this year's operational and financial results, progress we have made against our strategic priorities, and the outlook for FY27 before opening the lines for Q&A. FY26 was a year of tangible delivery against the strategic reset we outlined two years ago. We assisted our operator in bringing a major project into production at Waitsia, executed a large offshore campaign in Victoria, recommenced drilling in the western flank after nearly a three-year hiatus, grew margin across our business through an embedded cost discipline, commercial focus, and the owner's mindset, and maintained a strong focus on safe and reliable operations. Importantly, that discipline translated into strong cash generation and strengthened balance sheet. Beach delivered positive all-in free cash flow during a major period of project execution, supported by increased realized gas pricing, lower field operating costs, and disciplined capital allocation. We also reinforce as a critical supplier of domestic gas on the East Coast, our operated assets and non-operated interests supplied approximately 19% of total gas demand, with 100% of our East Coast gas production delivered to domestic customers. As a result, Beach enters FY27 in a stronger financial position with greater flexibility to fund disciplined organic investment, pursue value-accredited organic opportunities, with a view to building the resource base to support the next phase of growth. Slide two sets out our compliance st...