MARKETS

Beach cuts spending guidance

BEACH Energy has cut its capital guidance for the 2016-17 fiscal year to between $160–$170 million, a reduction of up to $25 million, as it pushes out non-essential maintenance, delays work and benefits from lower drilling costs.

Haydn Black

Operations at Bauer.

The company announced its reduced guidance ahead of this morning's quarterly result, but is maintaining its production guidance of between 10.3-10.7 million barrels of oil equivalent, saying that faster...

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