Beach Energy announce the Monthly Drilling Report for August 2013 with Oil and gas discovery in El Salmiya-2 ST1, Egypt and Exploration drilling commencing in Est Cobalcescu Concession, Romania. Nappamerri Trough Natural GasThe vertical exploration campaign continued in ATP 855 46.9% and operator, Icon Energy Ltd 35.1%, Chevron Australia Exploration 1 Pty Ltd (Chevron) 18%), with Keppel-1 safely suspended after gas influx [...]
Adelaide, Australia (ABN Newswire) - Beach Energy Ltd. (ASX:BPT) (OTCMKTS:BCHEY) has been advised by the operator of its Romanian Est Cobalcescu offshore block, Petroceltic International plc, that the 01RX Cobalcescu South well recently spudded.The well is located offshore and approximately 170 kilometers northeast of Constanta in a water depth of 88 metres. It is being drilled using a jack-up rig, with the planned total [...]
Beach Energy advises the following in relation to its reserves and resources as at 30 June 2013:New categorization of 1P (Proved) and 3P (Proved, Probable and Possible) reserves;2P reserve replacement ratio of 100%, mainly due to:- 13% increase in oil reserves;- Minor downward revisions to gas reserves; and- FY13 production of 8.0 MMboe.2C contingent resources down 4% on the prior year, mainly due to:- Farm-out of 30 [...]
Beach Energy together with its main partner, the Egyptian General Petroleum Corporation (EGPC), advises that the operator of its Abu Sennan concession in the Western Desert in Egypt, Kuwait Energy Egypt, completed a drill stem test (DST) of the Kharita Formation in the El Salmiya-2 well, which flowed oil at a rate of 3,530 barrels per day and 4.7 MMscfd of gas.The oil column within the Kharita Formation is 68 metres [...]
Adelaide, Australia (ABN Newswire) - Beach Energy Ltd. (ASX:BPT) ("Beach") advises that its FY13 preliminary final results will be released on Tuesday, 27 August 2013.The call will take place at 11am (AEST), at which time a live webcast of the results presentation may be accessed in the 'Investor Centre' section on the Beach website at www.beachenergy.com.au, or via the following [...]
Beach Energy announce the Monthly Drilling Report for July 2013AUSTRALIACooper Basin Deep Onshore Gas ProjectThe vertical exploration campaign continued in ATP 855 (Beach Energy Ltd. (Beach) 46.9% and operator, Icon Energy Ltd 35.1%, Chevron Australia Exploration 1 Pty Ltd (Chevron) 18%) with Hervey-1 and Keppel-1. Hervey-1 was cased and suspended after intersecting more than 800 metres of the Patchawarra Formation and [...]
Adelaide, Australia (ABN Newswire) - Beach Energy Ltd. (ASX:BPT) ("Beach") has entered into a secured $320 million refinancing of its current $150 million secured Multi-Option Facility, which was due to expire in 2014.The new facility consists of three tranches:- $150 million three year revolving loan facility;- $150 million five year revolving loan facility; and- $20 million letter of credit facility.There was strong [...]
Adelaide, Australia (ABN Newswire) - Beach Energy Ltd. (ASX:BPT) ("Beach") advises of the following guidance range in relation to the financial year 2014 ("FY14"):- Production - 8.7 to 9.3 MMboe- Capital expenditure - $420 to $480 millionThe above guidance has resulted from the annual strategy and budget review process, which takes into consideration business objectives, operating performance, key strategies and more [...]
Adelaide, Australia (ABN Newswire) - Beach Energy Ltd. (ASX:BPT) announce the Quarterly Activities Report with the following highlights:Corporate- Major GSA signed with Origin for up to 139 PJ of gas for eight years, with the option for Origin to extend the contract for up to 173 PJ over ten years- Transfer to Chevron of initial Beach interests in PEL 218 and ATP 855, with cash payments received from Chevron for the [...]
Beach Energy Limited advises that hydrocarbon shows have been identified while drilling the El Salmiya-2 well in the Western Desert, Egypt. Beach Energy advises that the operator of its Abu Sennan concession in the Western Desert in Egypt, Kuwait Energy, is evaluating high resistivity anomalies and hydrocarbon shows observed in the El
Beach Energy advises that four oil discoveries, consisting of three in PEL 91 (Beach 40% and operator, Drillsearch Energy Limited 60%) and one in PEL 92 (Beach 75% and operator and Cooper Energy Limited 25%), as well as a further development well interesection in the Bauer oil field in PEL 91, have recently been achieved.
Beach Energy advises the following details in relation to its deep onshore gas exploration program, both in PEL 218 (Beach 70%, Chevron Australia Exploration 1 Pty Ltd ("Chevron") 30%(1)) and ATP 855 (Beach 42% and operator, Chevron 18%(1), Icon Energy Ltd 40%.
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