Established in 1961, Beach Energy Limited (BPT) is a $3bn Australian oil [1] and gas [2] exploration and production company based in South Australia [3] and operating here nationally and in New Zealand. In 2020 BPT was the second-largest oil producer in Australia after Woodside Petroleum [4].
Beach now holds interests in five producing basins across Australia and New Zealand, including the Cooper Basin, Bass Basin, Otway Basin, Perth Basin and Taranaki Basin.
“BPT is better value than some of the larger energy stocks, and the company is expecting solid production growth over the next few years,” Michael said.
“Of course, the main driver of the share price is the price of oil.
“This seems to be strengthening again due to global supply issues and underinvestment. “When I look at the chart of BPT, it appears to have put a low in place and solid buying has seen it recently break out of a tight trading range.
“It looks highly likely to head higher and it is a stock that I have therefore been happy to start buying here for my clients,” Michael added.
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