The nation’s third-largest oil and gas producer saw a big fall in first-half earnings after flooding in South Australia impacted production at its main field.
Beach Energy on Thursday posted a bottom-line net profit of $150 million, down 32 per cent on the previous corresponding period.
Its underlying result, which adjusts for one-off items, fell eight per cent to $219 million in the six months ended December.
Gas production dropped seven per cent after flooding last July in the Cooper Basin affected its wells and also left multiple communities cut off.
However, chief executive Brett Woods said the interim results were still solid.
“Onshore in the Cooper Basin, flood recovery efforts progressed strongly, with 97 per cent of affected production now back on line,” he said in a statement.
“With a solid first half performance, we are well placed to deliver on what will be an active second half of fiscal 2026 across our core east and west coast hubs.
“We are executing on our vision of becoming Australia’s leading domestic energy company.”
The Adelaide-based Beach Energy, which is 30 per cent owned by the Stokes family-controlled company SGH, produces domestic gas for eastern and western Australia and New Zealand.
It also supplies LNG, crude oil to local refineries and other energy-related products.
Beach Energy declared an interim dividend of one cent per share, down from three cents in 2025.