Why the Beach Energy (ASX:BPT) share price will be in focus on Tuesday

The company’s share will be in the spotlight tomorrow.
The post Why the Beach Energy (ASX:BPT) share price will be in focus on Tuesday appeared first on The Motley Fool Australia. –

The Beach Energy Ltd (ASX: BPT) share price ended Monday’s trading session in the green. However, its shares could be on watch tomorrow following an after-market release.

At the closing bell, Beach Energy shares finished up 4.22% to $1.235 a pop.

What did Beach Energy announce?

The Beach Energy share price could be on the move on Tuesday after the energy producer announced a positive update.

In its release, Beach Energy advised it has entered into a Heads of Agreement (HOA) with oil and gas company, BP.

The arrangement relates to the supply of Beach Energy’s share of liquefied natural gas (LNG) from Waitsia Gas Project Stage 2.

The HOA contains the terms and conditions for BP purchasing all 3.75 million tonnes of Beach’s expected LNG volumes. This is expected to come from the Waitsia Gas Project Stage 2, with supply forecasted to commence in the second-half of 2023.

Beach Energy noted that the annual contract volumes and supply terms are similar to the North West Shelf Gas Processing and Lifting Agreements. The terms include built-in flexibility, ensuring that LNG will flow when construction and commissioning activities have been completed.

Supply will be delivered on a Free on Board (FOB) basis from the NWS facilities in Karratha, Western Australia. BP is a joint venture partner in NWS.

The agreed price for the LNG contract is said to be linked to Brent crude oil and Japan Korea Marker price indices.

Beach and BP are targeting the execution of an LNG Supply and Purchase Agreement later this year.

About the Beach Energy share price

Over the last 12 months, Beach Energy shares have fallen around 10%, with year-to-date dropping more than 30%. The company’s share price is hovering around the lower point of its 52-week range of $1.01 and $2.04.

Beach Energy presides a market capitalisation of roughly $2.82 billion, with approximately 2.3 billion shares on its registry.

The post Why the Beach Energy (ASX:BPT) share price will be in focus on Tuesday appeared first on The Motley Fool Australia.

Should you invest $1,000 in Beach Energy right now?

Before you consider Beach Energy, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Beach Energy wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Leading brokers name 3 ASX shares to buy today

These were the best performers on the ASX 200 last week

Guess which sector this week’s top performing ASX 200 shares come from

The Beach Energy (ASX:BPT) share price is leaping 6% on Wednesday
5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!