The South Australian-based company yesterday reported production rose sharply on-year to 2.42 million barrels of oil equivalent (MMboe).

Sales revenue more than tripled to $89.52 million compared with $24.9 million in the 2005 September quarter and $27.5 million in the June quarter.

Beach said its $574 million acquisition of Delhi Petroleum group of companies in September “sharply increased” its reserves in the quarter.

The acquisition gives Beach an average 21% interest in 12 oil and gas exploration and production joint ventures operated by Santos in the Cooper and Eromanga Basin of South Australia and Queensland.

The company said it also added to proved and probable reserves, standing at 100MMboe as of July 1, 2006. These comprise 68MMboe in the Cooper and Eromanga Basins, 20MMboe in the Gippsland Basin and 12MMboe in the Surat Basin.

Beach’s reserves are now made up of about 70% gas/gas liquids and 30% oil.

Managing director Reg Nelson described the company’s quarterly results as “very pleasing” and said the strong performance should continue with the start of production from the Basker/Manta oil project in Bass Strait, offshore Victoria.

The company, which has a 50% stake in Basker/Manta, said modifications to the Crystal Ocean floating production, storage and offtake vessel and Basker Spirit FSO were finished late this month.

“In the September quarter we brought onstream a number of other oil and gas fields,” Nelson said.

“We aim to add to that new production with the expected start of production from the Basker/Manta project in December.”