Beach Energy's Output Guidance Still Carries Risk -- Market Talk

Dow Jones04-24

0245 GMT - RBC Capital Markets signals concern that Beach Energy won't be able to achieve its revised guidance for oil and natural gas output in FY 2024. Beach said it now anticipates annual production of 18.0 million-18.5 million BOE after grappling with the impact of wet weather in 3Q. That marked a step down at the midpoint from earlier guidance for 18.0 million-20.0 million BOE. "There remains some guidance risk at the lower end, as this remains dependent on return to normal Cooper Basin production levels (no further weather events) and broadly consistent Otway Basin customer nominations," analyst Gordon Ramsay says in a note. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 23, 2024 22:46 ET (02:46 GMT)

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That marked a step down at the midpoint from earlier guidance for 18.0 million-20.0 million BOE. \"There remains some guidance risk at the lower end, as this remains dependent on return to normal Cooper Basin production levels (no further weather events) and broadly consistent Otway Basin customer nominations,\" analyst Gordon Ramsay says in a note. 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