Beach Energy Limited (Beach), an Australian oil and gas company, reported Tuesday the following guidance range in relation to the financial year 2015 (FY15):
The above guidance has resulted from the annual strategy and budget review process, which takes into consideration factors such as business and strategic objectives, operating performance and the timing of new developments.
The guidance does not include the potential impact of weather and other delays, potential acquisitions, divestments, farm-ins, farm-outs or expenditure for the upgrade of the corporate office.
The FY15 oil and gas production guidance range of 8.6 to 9.4 MMboe reflects the following:
The FY15 capital expenditure guidance range of $422.77 to $469.75 million (AUD 450 to AUD 500 million), which excludes the upgrade of the corporate office, is split between development and exploration as follows:
As a result of expected operating cash flow, and in conjunction with a cash balance at June 30 of $386.17 million (AUD 411 million) and a secured $281.85 million (AUD 300 million) debt facility, Beach anticipates it will be able to fund its FY15 capital expenditure activities in full.
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