News Articles for Beach Energy

Brett Woods will lead Beach Energy from next year following the immediate departure of the oil and gas company's current chief executive.

Beach Energy has reported quarterly production and revenue gains, while offering a vague update on progress at the Waitsia stage two project in the Perth Basin.

Our board moves wrap includes Ryan Stokes, Margaret Hall, Wouter Pulinx, Jozsef Patarica, Luke Graham, and Mark Schuessler.

Seven Group Holdings chief executive Ryan Stokes has returned to the board of Beach Energy, replacing Margaret Hall as a designated director of the investment group.

Beach Energy has plugged and abandoned its Trigg 1 gas exploration well, making it the second target in the Perth Basin to record disappointing results in the past three months.

Cost pressures have led Beach Energy and Mitsui & Co to withdraw schedule and capital estimates for the stage two development of the Waitsia gas project.

Our board moves wrap includes Alvin Tan, Joan Dabon, Adrian Teo, Natalie Teo, Bruce Clement, Ray Shaw, Jocelyn Bennett, Steven Bowler, Justine Magee, and Robert Hilton.

Our board moves wrap includes Mathew Regan, John Barrington, Philip Bainbridge, Kevin Tomlinson, Ray Shorrocks, Shaun Hardcastle, Tim Hannon, Brendan Power, John Baillie, John Dimitropoulos, Ross McKinnon, Ronnie Beevor, Michael O'Keeffe, Emily Spano, Peter Cook, Warren Hallam, Jonathan Shellabear, Rod Corps, and Teck Lim.

Billions of dollars of investment could be in the pipeline for Perth Basin as the state faces a crippling gas shortage within a decade.

Our board moves wrap includes Neil Kaplan, Christian Cortes, Anthony Gill, Greg Medcraft, Gregory Van Staveren, David Lim, Pini Althaus, Tara Berrie, Stuart Carmichael, Roger Steinepreis, John Downes, Jamie Lyford, Victor Rosenberg, Michael McMullen, Bill Beament, Allan Godsk Larsen, Stephen Dunmead, Crispin Swan, David McEntaggart, Brian Scott, Jason Livingstone, Alex Krstic, Pedro Kastellorizos, Silfia Morton, James Doyle, Jessica O'Hara, Mark Bolton, Sonu Cheema, and Mark Pitts.

Costs to develop Beach Energy and Mitsui & Co's Waitsia gas project could climb to $850 million, as Webuild prepares to take over the old Clough contract.

UPDATE: Details of the deal between Italy's Webuild and the collapsed Perth engineer have been released at close of business this afternoon.

Kerry Stokes-backed Beach Energy has reported a drop of more than 10 per cent in its estimated Perth Basin gas reserves after undertaking a drilling campaign at Waitsia.

Chris Ellison's Mineral Resources has said its 19.2 per cent stake in Warrego Energy is “strategic”, and claimed gas assets in the Perth Basin are now overpriced.

The Norwest Energy board has recommended its shareholders reject Mineral Resources' takeover offer, claiming the $403 million bid was “opportunistically timed”.

Gina Rinehart's Hancock Prospecting has launched what is effectively the seventh takeover bid for Warrego Energy in the space of two months, jacking up its offer price by 29 per cent.

UPDATE: Administrators for Clough have found a new buyer in Webuild, the company that pulled out of a lifeline deal to save the Perth engineer just over a week ago.

Mitsui E&P Australia and Beach Energy say subcontractors working for Clough on the Waitsia gas project have been paid.

The board is set for Gina Rinehart's Hancock Energy to take control of Perth Basin desirable Warrego Energy after Kerry Stokes-backed Beach Energy declined to match a $342 million cash offer.

Strike Energy has muscled back in amid the fight for ownership of its joint venture partner Warrego, lifting its stake in the target to 19.9 per cent to become its biggest shareholder.

Mitsui & Co says it is confident of finding a workable solution for its Waitsia gas project as the share price of its joint venture partner Beach Energy continues to slide.

Warrego Energy shares are continuing skyward as investors wait to see whether Stokes-backed Beach Energy will match rival bidder Gina Rinehart's $350 million cash offer for the Perth Basin developer.

Hancock Prospecting has lifted its bid for Warrego Energy to almost $350 million just hours after Kerry Stokes-backed Beach Energy upped the ante.

Gina Rinehart's Hancock Prospecting could help solve a looming WA gas shortage, pledging to boost Perth Basin investment as it becomes the third company chasing Warrego Energy.

Strike Energy boss Stuart Nicholls has implored joint venture partner Warrego Energy to reconsider a $246 million cash takeover from Beach Energy, flagging a potential change in development plans.

Senior journalist Matt Mckenzie talks about California's space industry, Elon Musk and similarities between Las Vegas and Perth.

Warrego Energy has agreed to a takeover offer from Kerry Stokes-backed Beach Energy, bypassing a competing offer from its joint venture partner, the John Poynton-chaired Strike Energy.

A battle is looming for Perth Basin hopeful Warrego Energy, with Beach Energy lobbing the second takeover offer revealed in two days.

ASX-listed producer Buru Energy has chalked up a quarter to remember, tabling its highest revenues in recent memory after banking $5.7 million from its onshore operations in WA's Canning and Carnarvon basins. The company's strong cash and debt-free financial position was bolstered through the sale of about 76,000 barrels of oil and fits within its strategy of optimising fluid production whilst unlocking its gas resources.

Our board moves wrap includes Colin Beckett, Robert Jager, Ben Quirin, Jodi Scott, Adam Blumenthal, Justin Osborne, Peter Buck, Kathleen Bozanic, Matthew Yates, Craig Williams, Rowan Johnston, and Cristian Moreno.

Our board moves wrap includes Peter Newcomb, Clint Moxham, Daniel Murnane, Susan Jones, Eduard Eshuys, Mick Wilkes, Craig McGown, Tony Kiernan, Morgan Ball, Lee Stephens, Tommy McKeith, Nev Power, Dale Richards, and Mark Bennett.

Buru Energy CEO Thomas Nador says Origin Energy's decision to quit upstream exploration provides clarity for Buru on its joint venture with the company – the Rafael gas discovery in WA. “We can now concentrate on getting on with it, to work closely with a possible new partner to develop and commercialise this quality project and to deliver the value we know is there,” he said.

Shares in Kerry Stokes-backed Beach Energy plummeted more than 13 per cent during trading with the market seemingly underwhelmed by the oil and gas business' production outlook.

Kerry Stokes-backed Beach Energy has entered into an agreement with BP Singapore to sell 3.75 million tonnes of LNG from the Waitsia Stage 2 project.

The state government could do a better job of keeping the public in the loop about some major decisions.

Our board moves wrap includes Morne Engelbrecht, Malcolm Broomhead, John Mogford, and David Hall.

Santos has booked 100 million tonnes of carbon storage resource within South Australia's Cooper Basin while reporting a substantial increase in reserves on the back of its Oil Search merger.

Our board moves wrap includes Tod McGrouther, Krista Bates, Kate Adams, Geoff Starr, Robert Jager, Adrian Jessup, Mauro Piccini, Trevor Dixon, and Adam Handley.

Our board moves wrap includes Ryan Stokes, Margaret Hall, Danielle Carter, Trish White, David Acton, Mark Twycross, Sophie Raven, Gregory Gettingby, Michael Stirzaker, Patricia Farr, and Jutta Zimmermann.

Advisers have been appointed for a potential sale of Seven Group's share of the Crux LNG project, managing director Ryan Stokes has said, while flagging deals around Coates and WesTrac.