April 30 (Reuters) - Beach Energy Ltd BPT.AX :
* BUSINESS UPDATE
* FY21 PRO FORMA PRODUCTION GUIDANCE DOWNGRADED TO 25.2 - 25.7 MMBOE
* FY22 WESTERN FLANK OIL PRODUCTION EXPECTED TO BE 4.0 - 5.0 MMBBLS BELOW PREVIOUS ESTIMATES
* FIVE-YEAR OUTLOOK IS WITHDRAWN AND BEACH WILL NO LONGER PROVIDE A FIVE-YEAR OUTLOOK IN ITS CURRENT FORM
* UNDERTAKEN URGENT REVIEW OF WESTERN FLANK OIL AND GAS RESERVES FOR FY21
* SEES FY22 WESTERN FLANK OIL PRODUCTION 4.0 - 5.0 MMBBLS BELOW PREVIOUS ESTIMATES
* NO IMMEDIATE IMPACT ON GAS PRODUCTION IS EXPECTED
* FY21 PRODUCTION GUIDANCE IMPACTED BY LARGER THAN EXPECTED DECLINE ACROSS WESTERN FLANK OIL ASSETS
* PLANNED PRODUCTION GROWTH FROM OTWAY BASIN AND PERTH BASIN DEVELOPMENTS REMAIN ON TRACK
* FY21 PRODUCTION GUIDANCE IMPACTED BY LOWER NOMINATIONS FROM OTWAY GAS PROJECT
* SEES FY21 UNDERLYING EBITDA BETWEEN $850 – 900 MILLION
* SEES FY21 CAPITAL EXPENDITURE BETWEEN $700 – 740 MILLION
* SEES FY21 UNIT OPERATING COST $10.00 - 10.50/BOE