• Production up 7% quarter-on-quarter to 4.8 MMboe
• Strengthened liquidity position supported by sales volumes of 5.3 MMboe, revenue of $419 million
• New acreage provides low-cost access to East Coast gas and liquids opportunities

Beach Energy Limited reported its FY26 Third Quarter Activities Report, highlighting a 7% increase in production to 4.8 MMboe compared to the previous quarter. This was driven by a 174% surge in production from the Perth Basin, with the final two gas compressors commissioned at the Waitsia Gas Plant. However, the Otway Basin saw a 9% decline in production due to lower customer nominations, while the Cooper Basin JV and Western Flank production fell by 5% and 8% respectively following severe rain events. The company's financial position continued to strengthen, with sales volumes of 5.3 MMboe and revenue of $419 million. This was supported by one LNG cargo lifting in February, generating $54 million in revenue at an average realised price of $13.7/MMBtu. The average realised oil price increased by 19% to A$125/bbl, while the average realised gas price decreased by 6% to $11.2/GJ. Beach's available liquidity stood at $974 million, with net gearing at 11%, providing optionality for future growth. The company was also awarded new acreage in the Taroom Trough and Cooper Basin, which the Managing Director and CEO, Mr. Brett Woods, described as an important step in delivering longevity to Beach's portfolio and securing new domestic supply of oil and gas.

FY26 production guidance revised to 19.4 - 20.3 MMboe (from 19.7 - 22.0 MMboe). FY26 capital and abandonment expenditure guidance unchanged.