Beach Energy Limited is an Australian

oil An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated ...

and

gas Gas is one of the four fundamental states of matter (the others being solid, liquid, and plasma). A pure gas may be made up of individual atoms (e.g. a noble gas like neon), elemental molecules made from one type of atom (e.g. oxygen), or ...

exploration and production company based in

Adelaide Adelaide ( ) is the capital city of South Australia, the state's largest city and the fifth-most populous city in Australia. "Adelaide" may refer to either Greater Adelaide (including the Adelaide Hills) or the Adelaide city centre. The dem ...

South Australia South Australia (commonly abbreviated as SA) is a state in the southern central part of Australia. It covers some of the most arid parts of the country. With a total land area of , it is the fourth-largest of Australia's states and territories ...

. Formerly known as Beach Petroleum, the company changed its name to Beach Energy in December 2009. It is a component of the

S&P/ASX 200 The S&P/ASX 200 index is a market-capitalization weighted and float-adjusted stock market index of stocks listed on the Australian Securities Exchange. The index is maintained by Standard & Poor's and is considered the benchmark for Australi ...

index of major Australian companies and in 2020 was the second largest oil producer in Australia after

Woodside Petroleum Woodside Energy Group Ltd (formerly Woodside Petroleum Ltd) is an Australian petroleum exploration and production company. Woodside is the operator of oil and gas production in Australia and also Australia's largest independent dedicated oil an ...

. Beach was established in 1961, however for many years it was not very successful. After eventually making some discoveries in the

Cooper Basin The Cooper Basin is a Permian-Triassic sedimentary geological basin in Australia. The basin is located mainly in the southwestern part of Queensland and extends into northeastern South Australia. It is named after the Cooper Creek which is an ...

, Beach now holds interests in five producing basins across Australia and New Zealand, including the Cooper Basin, Bass Basin, Otway Basin, Perth Basin and Taranaki Basin. In 2014, Beach Energy was the largest onshore oil producer in Australia. In March 2015, it was announced that incoming Beach Energy managing director Rob Cole will assume leadership of the company three months earlier than expected after freeing himself of commitments at his previous firm,

. In November 2016, Beach Energy announced a Western Flank oil discovery within the Poolowanna Formation in ex PEL 91 (Beach 100%). In September 2017, Beach Energy announced it would acquire Lattice Energy from

Origin Energy Origin Energy an ASX listed public company with headquarters in Sydney. It is a major integrated electricity generator, and electricity and natural gas retailer. It operates Australia’s largest coal-fired power station at Lake Macquarie, New ...

for $1.585 billion, significantly increasing the company's operations portfolio.

References

External links

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ASX website information about Beach Energy
Companies listed on the Australian Securities Exchange Oil companies of Australia Seven Network {{petroleum-company-stub