Beach Energy (BPT.AX) has announced it will record a $674 million pre-tax impairment ($474 million after tax) in its 2025 financial year results. The impairment is primarily driven by lower commodity price forecasts. Beach Energy is an Australian oil and gas producer. The company explores, develops, and produces hydrocarbons, focusing on supplying energy to the Australian domestic market.
Despite the impairment, Beach Energy reported a 9 per cent increase in production to 19.7 million barrels of oil equivalent (mmboe). Full-year sales volumes also rose, reaching 24.7 mmboe, compared to 21.3 mmboe in FY24. This increase in sales volume contributed to a 13 per cent rise in sales revenue, which totalled $2 billion for the financial year.
Beach Energy chief executive Brett Woods highlighted the company’s strong fourth-quarter performance and material growth in production and revenue for the full year. He also noted the strengthened balance sheet, positioning the company to pursue future growth opportunities. Woods confirmed that the Waitsia Gas Plant is expected to come online by the end of the September quarter, remaining on schedule.
Looking ahead to FY26, Woods stated that Beach Energy’s strong financial position, low-cost operations, and focus on the domestic market uniquely position it to pursue organic and opportunistic growth. The company aims to become Australia’s leading domestic energy company.
