Beach Energy (BCHEY) AI Stock Analysis

Company Guidance

Beach guided FY‑27 production of 19.5–23.0 million barrels of oil equivalent, with total capital expenditure of $600–$700 million (sustaining capital expected below the $450 million operating principle), and noted planned statutory maintenance at Waitsia (≈24 days) and the Otway (28 days); FY‑26s metrics underpinning the outlook included production 19.4 MMboe, sales 22.9 MMboe, revenue $1.8 billion, underlying EBITDA $1.0 billion (57% margin), underlying NPAT $355 million (statutory $281 million), pre‑growth free cash flow $458 million and operating cash flow $890 million, closing cash $213 million and available liquidity $983 million with net gearing 10.6% (through‑the‑cycle target ~15% with capacity to ~25% for growth); reserves/resources at 30 June 2026 were 2P 156 MMboe and 2C 174 MMboe, Waitsia reached 250 TJ/day nameplate (April) and delivered six LNG cargoes (Waitsia cargoes revenue ~$343 million), Moomba CCS ~2.3 MtCO2e stored, field operating costs $11.40/boe (vs $11 target) after a 3% YoY reduction and 18% reduction in operated field costs since FY‑24, and key FY‑27 activity includes ~70 Cooper Basin JV wells, the final 3 Western Flank wells plus an 8‑well exploration campaign, two nearshore Otway wells (target all‑in < $5/GJ, IRR >20%, first gas possible H1 FY29), Perth Basin conventional wells and progress on Moomba Central Optimization (target completion FY‑29) and Waitsia inlet compression FID in H1.