Beach benefits from high oil and gas prices

Profit at Beach Energy has jumped 66 per cent thanks to soaring oil and gas prices, despite the company’s half-year oil and gas production rates falling 15 per cent.

In its half-yearly report, the company reported revenue rose 10 per cent to $797.4 million, with higher prices resulting in an additional $198 million in revenue.

Higher gas and ethane prices increased revenue by $16.0 million with realised prices of $7.54 a gigajoule.

Path Investments plc (LON:PATH) is an energy investment company, and is focused on making investments in the energy sector on a global basis. The company seeks to create value for its shareholders through acquisitions, joint ventures or direct interests in energy businesses or associated projects.

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