2322 GMT - Beach Energy is approaching a time for deals, suggests Macquarie. Net debt fell to A$389 million in 2Q, from A$555 million in 1Q, and is set to improve again as management agree to the sale of a fifth liquefied natural gas swap cargo from the Waitsia project in Australia. Beach retains liquidity of some A$631 million. "We expect Beach will be seeking other acquisitions," Macquarie says. Scrip deals could now work, given Beach's share price is up more than 40% since its September low, the bank adds. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 30, 2025 18:23 ET (23:23 GMT)
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