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.

26 February 2016
comments
share

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

An invaluable asset to Australasia's oil and gas sector

Subscribe today and enjoy full access to EnergyNewsBulletin.net - the most comprehensive source of energy sector news and information.

EnergyNewsBulletin.net Package

SUBSCRIBE NOW

Full access to EnergyNewsBulletin.net resources on desktop and mobile
Industry-leading insights into the future of energy
Expert market views on digitalization and renewables
In-depth features on advancements in technology
A ﬁrst look at latest commodity price updates and breaking news
2 daily newsletters covering hot topics in operations and investment
Access to the complete Energy News Bulletin archive since 2006

Try EnergyNewsBulletin.net for 30 days for ONLY $1

START YOUR TRIAL

best value

Resource Sector Investment Package

SUBSCRIBE NOW

All the benefits of EnergyNewsBulletin.net package, plus Unlimited access to MiningNews.net
Access to all MiningNews.net articles and additional features
MiningNews.net daily newsletters
Exclusive monthly newsletter from RESOURCESTOCKS featuring select commodity market analysis and latest company profiles.