A pioneering history
Beach Energy Limited, formerly Beach Petroleum Limited, was established in the early 1960s by the late Dr. Reg Sprigg, a highly regarded Australian oilman, geologist, explorer and conservationist.
The first well, Grange-1, was drilled at the site of what today is the Grange Golf Course, near the Adelaide metropolitan beaches – bringing about the name “Beach Petroleum”.
Beach was listed on the Australian Securities Exchange (ASX) in 1961.
PROUDLY SOUTH AUSTRALIAN
Beach grew its assets steadily through the 1960s, 70s and early 80s, by which time it held a broad range of promising exploration and production tenements, extensive cash reserves, plus a long term revenue base from its oil and gas discoveries.
The Company’s pioneering exploration in the Otway Basin of south-eastern Australia resulted in significant discoveries of commercial gas at Port Campbell in 1979. In the early 1980s, Beach made oil discoveries at Jackson, Bodalla South and Kenmore in south-western Queensland.
The 2000s saw Beach relocate its headquarters back to South Australia, consolidate its financial position, and expand its operations with a focus on the Cooper/Eromanga Basin.
A STRONG GROWTH STORY
In 2016, Beach completed a merger with Drillsearch expanding its Cooper Basin footprint, then, in 2018, Beach acquired Lattice Energy, resulting in substantial growth of Beach’s asset portfolio across Australia and into New Zealand.
Today, Beach has operated and non-operated onshore and offshore, oil and natural gas production from five producing basins across Australia and New Zealand and is a key supplier to the Australian east coast gas market.
To this day, Beach retains the pioneering spirit of Reg Sprigg, and has grown to be Australia’s second largest oil producer with a significant natural gas portfolio.