The S&P/ASX 200 was introduced in April 2000 to replace the All Ordinaries index as the primary gauge of the Australian equity market.

Other petroleum companies already on the index include BHP Billiton, Woodside Petroleum, Santos, Oil Search, Australian Worldwide Exploration, Hardman Resources, Tap Oil, Roc Oil and Arc Energy.

Last week, Beach, which has a market capitalisation of $850 million, reported a 161% jump in net profit to almost $44 million for the year ended June 30, up from the previous year’s $16.83 million.

Revenue almost doubled from $63.36 million to $123.99 million.

“The strong profit result reported last week, the recent acquisition of Delhi Petroleum, giving Beach Petroleum a 21% interest in the Cooper Basin oil and gas fields and the company’s inclusion in the S&P/ASX 200 index round out a successful period for the company,” Beach managing director Reg Nelson said.

“Beach Petroleum’s inclusion in the S&P/ASX 200 from the start of trade today is expected to stimulate some institutional buying of the stock.”

Covering about 78% of the Australian equities market, the S&P/ASX 200 was considered an ideal proxy for the total market serving the dual purpose of benchmark and investable index, according to Beach.