Revenue for the quarter was $194 million, with lower oil prices the main driver of the 17 per cent decline. At quarter end, cash reserves were $249 million with the debt facility of $300 million remaining undrawn.

Strong gas production, underpinned by the South Australian Cooper Basin Joint Venture (SACB JV) infill drilling program, and the continued outperformance of the Bauer field resulted in strong December quarterly production of 2.4 MMboe, in line with the prior quarter.

First half production was 4.8 MMboe, only slightly down on the prior corresponding period.

As a result, Beach has narrowed its ...