Australia's Beach Energy rises on stronger quarterly production results

Beach Energy

18/10/2024 01:14

** Shares of Beach Energy  BPT.AX  rise as much as 4.5% to
A$1.275, hitting their highest level since Oct 8
    ** Oil and gas explorer reports 10% increase in Q1
production compared to previous quarter
    ** Co reported revenue of A$427 mln($286.09 mln) for the
quarter, in line with the prior period
    ** Flat QoQ production at Western Flank from good
operational performance was a highlight — Citi
    ** Citi retains target price of A$1.10/shr and "sell" rating
on BPT
    ** Stock down 23.8% YTD, as of last close

($1 = 1.4925 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))