Delays to the start of first gas production at Beach Energy's (ASX:BPT) Waitsia gas project in the Perth basin could reduce liquefied natural gas (LNG) sales, Jarden Research said in a Monday note.
In October, the oil and gas producer said mechanical completion of the Waitsia plant and fuel gas and fuel gas introduction by the end of the fiscal first quarter was delayed due to project productivity onsite being below required levels.
On Tuesday, the company reported another delay and now expects the first delivery from the gas facility in the second quarter of fiscal 2025.
Jarden Research believes that the delay has implications, as the company's agreement with the Western Australian government for LNG exports will expire at the end of fiscal 2028.
If this agreement is not extended, the delays to the first gas production will see lesser LNG sales from the gas facility, the investment firm said.
Jarden Research maintained its neutral rating on Beach Energy and lowered its price target to AU$1.33 from AU$1.35.
Beach Energy's shares rose 10% in recent Thursday trade.
Price (AUD): $1.34, Change: $+0.12, Percent Change: +10.04%
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。