Beach banks on strong balance sheet, but cuts spending

DESPITE a strong balance sheet Beach Energy has announced plans to defer up to 30% of capital investment in financial 2021 in reaction to the oil price crash and has revised its guidance as the COVID-19 pandemic continues to play out.

Beach banks on strong balance sheet, but cuts spending Beach banks on strong balance sheet, but cuts spending Beach banks on strong balance sheet, but cuts spending Beach banks on strong balance sheet, but cuts spending Beach banks on strong balance sheet, but cuts spending

Revises EBITDA guidance by A$100M

 
However it has said it can survive at US$10 per barrel oil and 97% of its east coast gas sales for financial 2020-21 should be sold under contract and less than 25% of this is oil-linked.

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