Beach on Track for Top End of Guidance, Waitsia Startup Remains Wildcard -- Market Talk

Dow Jones10-21

2248 GMT - Beach Energy's additional two LNG swap cargoes in the current quarter leads Wilsons to raise its FY 2025 output forecast by 5%, moving it to the top end of the Australian company's own guidance of 19.5 million-21.5 million BOE. Still, analyst James Karakatsanis isn't confident that Beach can hold to a timeline for bringing on the Waitsia Stage 2 natural-gas project in Western Australia. "We continue to estimate startup will slip from early 2025 to April 2025 further supported by the mechanical completion and fuel gas testing target missed this quarter," Wilsons says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 20, 2024 18:48 ET (22:48 GMT)

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Still, analyst James Karakatsanis isn't confident that Beach can hold to a timeline for bringing on the Waitsia Stage 2 natural-gas project in Western Australia. \"We continue to estimate startup will slip from early 2025 to April 2025 further supported by the mechanical completion and fuel gas testing target missed this quarter,\" Wilsons says. 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