Original article by Matt Chambers
The Australian – Page: 22 : 28-Sep-18
Beach Energy currently produces 26-28 million barrels of oil equivalent each year, but it has outlined plans to increase this to 34-40 million boe by 2022-23. The company will also seek to lift its free cash flow to $2.3bn within five years. The Lattice Energy assets, which Beach bought from Origin Energy for $1.59bn in 2017, will be a major growth driver. Beach took on $US1.58bn worth of debt to finance the acquisition, but CEO Matt Kay expects the company to be almost debt-free by the end of 2019-20.
BEACH ENERGY LIMITED – ASX BPT, LATTICE ENERGY LIMITED, ORIGIN ENERGY LIMITED – ASX ORG, NEW ZEALAND OIL AND GAS LIMITED, OMV AG, SANTOS LIMITED – ASX STO