2024-02-12 10:43:05 ET
Beach Energy Limited (BEPTF)
Q2 2024 Results Conference Call
February 11, 2024 06:00 PM ET
Company Participants
Derek Piper - Head of Investor Relations
Brett Woods - MD and CEO
Anne-Marie Barbaro - Chief Financial Officer
Conference Call Participants
Tom Allen - UBS
James Redfern - Bank of America
Adam Martin - E&P
Dale Koenders - Barrenjoey
Saul Kavonic - MST Marquee
James Byrne - Citi
Gordon Ramsay - RBC Capital Markets
Nik Burns - Jarden Australia
Sarah Kerr - Morgan Stanley
Henry Meyer - Goldman Sachs
Scott Ashton - SHA Energy Consulting
Presentation
Derek Piper
Thank you. Good morning, all, and welcome to the Beach Energy results webcast for the half year period ending 31 December 2023. My name is Derek Piper, Head of Investor Relations. And here with me is Brett Woods, our Managing Director and CEO; and Anne-Marie Barbaro, our Chief Financial Officer. We released a presentation this morning, which summarized our results and we'll talk through that today. Brett will provide a highlight and -- or an overview of the highlights and Anne-Marie will touch on these financials.
We'll then open the lines for Q&A and we would ask if you could keep your questions to one or two each so that will be appreciated. We will try to move through those fairly promptly. So on that note, I'll hand to Brett for an overview of the results.
Brett Woods
Thanks, Derek. Hello and welcome to Beach Energy's FY '24 half year results webcast. My name is Brett Woods, and I am the Managing Director and Chief Executive Officer of Beach. Joining me today is Anne-Marie, our Chief Financial Officer, to take us through the financials. Let me please start by saying it is a privilege to have been appointed to the role and I've certainly started at an exciting time for Beach. We're on the cusp of completing a suite of projects that delivers material volumes of new gas supply to domestic and global markets.
This near-term growth outlook, our sound financial position and the prospects for transformational growth, are what attracted me to Beach. Past few months while I've been transitioning, I've thought long about my key areas of focus. So in short, my key priorities are firstly, delivery of Waitsia Enterprise, Thylacine West production as per the schedule and capital guidance, reducing our operating cost of the existing business. I am concluding a comprehensive review of the organization and its cost base, specifically with a target to deliver disciplined, high-performance organization.
Critically, we need an integrity and safety-focused organization who chases every molecule at the lowest possible cost. Margin growth is also a key mindset that I wish to unlock within Beach, effectively enabling Beach to be in the strongest position to take advantage of its unique financial and technical capability.
This can unlock further organic opportunities and those large opportunities when the right ones are available. I want to maintain our strong balance sheet position. And finally, I want to deliver disciplined capital allocation with the focus of increasing our shareholder returns. Just a quick thank you to Bruce Clement for stepping up in the interim period, while I've been on garden leave. Bruce has overseen much progress across the business and has greatly assisted me with my transition. For today's webcast, I will provide an overview of the results and recent activities and an outlook for the remainder of this financial year....
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Beach Energy Limited (BEPTF) Q2 2024 Earnings Call Transcript