Beach Energy highlights increased production and new well activity

Beach Energy delivered its Q1 FY26 report supported by higher output from the Otway and Cooper basins and continued execution of its development drilling program.

In the Otway Basin, Beach completed the plug and abandonment (P&A) of the Geographe-1 and Thylacine-1 wells and concluded drilling of the Hercules-1 exploration well to a total depth of 2,350 m. Although no commercial hydrocarbons were encountered, the campaign provided geological data that will guide future prospect selection. Preparations are now underway for the next Equinox rig campaign, targeting further development and appraisal wells scheduled for H2 FY26.

In the Cooper Basin, recovery and restoration activities continued following earlier flood impacts, with production up 10% quarter-on-quarter as additional wells were brought back online. Beach and its joint venture partners also advanced planning for a 10-well drilling campaign focused on appraisal and development, expected to commence in late Q2 FY26.

Additional progress was recorded in Beach’s Western Flank oil program, where ongoing field optimization and re-completion work supported stable output, and in the Taranaki Basin in New Zealand where preparation activities are continuing for upcoming well intervention operations.