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Beach Energy on hunt for acquisitions as oil and gas giants divest – Sydney Morning Herald
Beach Energy says its strong balance sheet and access to liquidity puts it in an enviable position to weather the COVID-19 storm and consider acquisitions.
Beach Energy, like oil and gas producers everywhere, has been hit hard by the destructive impact of COVID-19 on prices, as restrictions to curb the spread of infections across the world have sapped demand for fuel.
The company on Wednesday said plunging prices had led to a 26 per cent slide in sales revenue during the June quarter, and warned shareholders it would marginally miss full-year earnings target of $1.175 billion.
“The emerging threat and reality of COVID-19 from February has impacte…
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