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Beach revenue down 33 per cent on sales slump

Sales volumes were down 23 per cent on the prior quarter at 2.2 MMboe, primarily due to lower oil production, seasonally lower gas demand and higher planned downtime at the Moomba gas processing facility.

Total sales volumes for the financial year-to-date are in line with the 2013-14 financial year.

Production was also lower than the previous quarter, down 11 per cent, due to natural oil field decline across permits, weather related delays to the commissioning of the Bauer facility upgrade and downtime at the Moomba facility.

Subsequent to the quarter end, Beach narrowed its 2014-15 production guidance to 8.9-9.2 MMboe, from 8.9-9.4 MMboe.

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