SOUTH AUSTRALIA

Beach writedowns hit profitability

BEACH Energy's loss for the last six months of 2015 exploded by almost 66% to $600 million as revenues plunged, and was forced to write down $634.6 million in assets, primarily for its sprawling Cooper Basin production.

Haydn Black

Assuming that oil will only rise to $US55/bbl in 2018, and $70/bbl after that, Beach decided to impair the value of its Cooper Basin heartland by $A525 million, plus $83 million for its exploration interests...

Start a free trial to continue reading this article

Already have an account? Sign in here

Subscribe now

MOST POPULAR

OPERATIONS

Santos to cut 200 jobs, mostly in Western Australia

OPERATIONS

FEATURE: Blue Energy battles legal hurdles in quest for Queensland gas production

POLICY

Growing calls for New Zealand to step on the gas as power prices surge

ENERGY TRANSITION

Albanese government pours billions into renewables

RESEARCH

Premium subscribers only

View more

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.