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.
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.
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.
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.
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.
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.
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 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.
Our board moves wrap includes Brett Woods, Morne Engelbrecht, Bruce Clement, Eamon Hannon, Martin Moloney, Warrick Hazeldine, Geoff Jones, Guy Robertson, and Dan Smith.
Our weekly appointments wrap includes Tom Plant, Patrick Gorman, Brendan Bate, Brett Woods, Alan Stuart-Grant, Brett Darley, David Banks and Sarina Claassens.
Energy giant Santos has finalised a new executive team and corporate structure that centralises management in Adelaide, though it has a strong Western Australian flavour as five members of the executive committee have worked in Perth.
A recent Grattan Institute report on the east coast gas market has further fuelled debate in Western Australia over the merits or otherwise of the gas reservation policy.
Santos has called on the state government to provide more certainty on its domestic gas reservation and offsets policies, to encourage new investment in ‘domgas' supplies.
