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CORRECTED-Australia's Beach Energy raises FY19 production guidance

Published 31/01/2019, 11:12 am
CORRECTED-Australia's Beach Energy raises FY19 production guidance
BPT
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(Corrects third paragraph to show upper end of previous capex guidance range as A$520 mln, not A$500 mln)

Jan 31 (Reuters) - Oil & gas explorer Beach Energy Ltd BPT.AX raised its production guidance for fiscal 2019, supported by better than expected output in the first-half of the year.

The company now expects to produce between 28 to 29 million barrels of oil equivalent (mmboe), up from previous guidance of 25 to 27 mmboe.

Beach narrowed its FY19 capital expenditure guidance to A$450 million to A$500 million ($326.21 million-$362.45 million) from A$440 million to A$520 million. ($1 = 1.3795 Australian dollars)

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