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At the time of publication, there have been no Importantly, more than 99% of Beach’s FY20 gas
instances of COVID-19 infection recorded at a Beach production was contracted and sold at fixed prices
facility or office. This is testament to the hard work or protection against oil price downside, and revenue
and dedication of all of our team members from the gas business in FY20 covered all group
to remain COVID-safe, applying all the required operating costs.
health protocols.
In response to the lower oil price, Beach announced
With the pandemic taking a personal toll on a prudent slowdown of its work program, reducing
employees, supporting the wellbeing of Beach’s FY21 capital expenditure by >30%.
workforce continues to be critical. Beach strongly
promoted its Employee Assistance Program, and Beach is also targeting a reduction in field operating
published a number of internal articles and videos to costs with a guidance range of $8.25-8.75/boe.
promote employee mental and physical wellbeing. At the time of publication, the COVID-19 pandemic
With the price of oil falling from above US$65 per remains ongoing, and Beach will not be complacent in
barrel in January to below US$20 per barrel in March, managing the associated risks.
Beach’s strong balance sheet going into the pandemic At all times, the health and safety of Beach’s
has been critical in ensuring the continued financial employees, contractors and the communities in
health of the business. which it operates will continue to be the number
one priority.
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Beach Energy Sustainability Report l October 2020
