AUSTRALIA

Beach cuts to keep calm and carry on

BEACH Energy managed to grow production by 8% last quarter thanks to its successful merger with Drillsearch Energy, but the mixture of growth and hedging contracts was not enough to keep revenue stable in the face of weaker energy prices, with total revenue plunging by 5%.

Haydn Black

Quarterly production of 2.4 million barrels of oil equivalent was slightly below sales of 2.65 million barrels of oil equivalent due to the timing of shipments, and income was down to $120 million due...

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