Beach Energy (BPT) -5.12%: Another energy name out with their quarterly. Revenue fell on a slight fall in production while realised pricing edged higher. They fell into net debt of $46m after buying Senex’s Cooper Basin asset in the quarter, though the figure is clearly manageable at current prices with Beach looking to leverage up further, eyeing cheap assets on the chopping blocks of more indebted energy names. We own BPT in the Growth Portfolio for this reason, seeing it the best placed to capitalise. Shares were down on softer prices.
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