Iran Tailwinds and Production Growth Create Compelling Energy Exposure
- FY2025 underlying NPAT of AUD 898 million with strong free cash flow generation of AUD 1.8 billion, supporting shareholder returns of AUD 770 million
- Barossa LNG and Pikka phase 1 expected to lift production 25-30% by 2027 compared to 2024 levels, representing major growth inflection
- 2P reserves of 1,559 mmboe with 18-year reserve life; production of 87.7 mmboe in FY2025 with sales volumes of 93.5 mmboe
- Best unit production costs in a decade of AUD 6.78 per boe (excluding Bayu Undan), demonstrating operational excellence and cost control
- Iran conflict and elevated LNG prices creating near-term cash flow tailwinds, supporting dividend capacity and capital deployment for growth…
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