Beach Energy chair Ryan Stokes says his company is ready to put the disappointment of a blown out Waitsia project behind it, as it prepares for the project to enter production.
Beach Energy and Mitsui's Waitsia stage two gas plant is finally ready for start up, more than four years since construction officially started on the contentious Perth Basin project.
Kerry Stokes-backed Beach Energy says gas production is finally imminent at its Waitsia plant in the Mid West, as it continues to profit from an export agreement with the state.
Former Woodside Energy executive Shaun Gregory has been appointed to the board of Stokes family-backed Beach Energy, almost a year after moving out of the Woodside c-suite.
Ryan Stokes-led diversified business SGH recorded a 5 per cent post-tax statutory net profit increase to $486 million last financial year, led by upticks at concrete maker Boral and Westrac.
Shares in Beach Energy have fallen sharply after the company flagged a large impairment related to lower commodity prices and a downgrade of gas reserves at a Perth Basin project.
A bushfire in the Mid West temporarily delayed work at Beach Energy and Mitsui & Co's Waitsia stage two gas plant in December, while first sales are now expected in the June quarter.
The near-term supply outlook for Western Australia's domestic gas market has improved this year, but 2028 looms as a critical juncture in the state's energy future.
Beach Energy chair Ryan Stokes has called out “ideological rhetoric” against oil and gas proponents, as the company inches toward production at the troubled Waitsia plant.
Beach Energy posted a 10 per cent lift in quarterly production, locked in Ryan Stokes as chairman and says first gas from Waitsia remains on track in its latest report.
Premier Roger Cook has conceded not all businesses will be happy with his government's decision to ease gas export restrictions, but insists it is the right move for the state.
Stokes-led Seven Group Holdings has posted a 10 per cent increase in revenue for 2024 financial year, buoyed largely by strong growth from its industrial services businesses.
Kerry Stokes-backed Beach Energy is on track to deliver long-awaited first production from the second stage of its Waitsia stage two project in early 2025.
Triangle Energy says its recent $4m capital raise was well supported by financial institutions and sophisticated investors as the company prepares to break out the drill rig for the first time in years in the Perth basin. Triangle is pivoting out of its near depleted Cliff Head offshore oil well and back into exploration with two interesting looking Perth Basin oil and gas plays.
The gap between contractor and company delivery deadlines is closing at the Waitsia gas project in the Perth Basin, but Beach Energy says the long-awaited development remains on track for production in early 2025.
The alliance representing the state's largest domestic gas users is ramping up its campaign to keep onshore gas in WA, as the premier's stance on the issue appears to be wavering.
Beach Energy and Mitsui & Co's Waitsia stage two gas project will not produce this year and will cost hundreds of millions more than previously expected as a result of quality issues.
Adelaide-based Perth Basin gas play Beach Energy will slash its workforce by 30 per cent, following a strategic review into its operations in the east and west coast gas markets.
The strong performance of Seven Group Holdings' industrial segment outweighed a substantial fall in media business earnings and asset write-downs at Beach Energy in the first half of FY24.
Asset write-downs pushed Beach Energy to record a statutory half-year loss of $345 million, as new managing director Brett Woods committed to undertake a review of business strategy.
Beach Energy announced its production was down 4 per cent during the second quarter of the 2024 financial year, citing planned downtime at its Kupe and Lang Lang gas plants.
Premier Roger Cook has left the door ajar for the export ambitions of gas developers in the Perth Basin, committing to look at the state's domestic policy settings over the next six months.
WA's opportunity to capitalise on the United States' massive Inflation Reduction Act will hinge largely on its ability to keep pace with demand, according to BHP's iron ore boss.
Beach Energy interim chair Ryan Stokes has lashed the increasingly complex regulatory environment for Australian oil and gas projects in his address to the company's AGM this morning.
A new report has singled out timely local supply from Woodside's Scarborough project and the Perth Basin as critical to balancing the state's tight domestic gas market.
Premier Roger Cook will meet with companies including Mitsui & Co on the first day of his mission to Japan, as the government looks to sell its vision for the state's renewable sector.
Beach Energy reported a 12 per cent revenue drop last quarter, citing a “disappointing” drop in east coast uptake for its product and singling out Otway Basin customer Origin Energy.
Our weekly appointments wrap includes Stephen Kinsella, Steve Moreland, Zaiqian Zhang, Paul McQueen, Dominique Mecoy, Diane Smith-Gander, Andrea Sutton, Ryan Stokes and Glenn Davis.
The imminent production milestone at Strike Energy's Walyering gas project in the Perth Basin has taken a back-seat as regional rhetoric and policy changes ramp up.
Perth basin-focused developer Strike Energy has blamed inefficiencies in the WA gas market on government policy settings, while singling out Beach Energy and Hancock Prospecting.
Beach Energy has called for greater flexibility in WA's domestic gas supply policy around LNG exports, warning the state's domestic gas inquiry of “unintended consequences”.
South32 has fired a salvo at the state's gas producers, accusing them of forcing unreasonable terms on buyers and calling on the state government to enforce a use it or lose policy over gas fields.
Beach Energy has recorded a sizeable drop in production and profit but claims strong project progress despite lowering its financial year 2024 targets.
Our board moves wrap includes Brett Woods, Morne Engelbrecht, Bruce Clement, Eamon Hannon, Martin Moloney, Warrick Hazeldine, Geoff Jones, Guy Robertson, and Dan Smith.
