Oil and gas explorer Beach Energy has upwardly revised its production and capital expenditure forecasts.
The South Australian-based company said stronger oil production volumes from the Western Flank, in the Cooper Basin, would maintain maximum capacity.
"It is anticipated that oil production levels will be maintained over the remainder of the financial year due to new oil wells being brought on-line ... and an active exploration and appraisal drilling campaign," Beach said in a statement.
Production guidance for the 2013/14 financial year was upwardly revised to between 9.2 MILLION and 9.6 million barrels of oil equivalent (mmboe), up 4.4 per cent from 8.7 million to 9.3 mmboe in August.
Capital expenditure guidance was also revised up to between $450 million and $500 million, an increase of 5.6 per cent from $420 million to $480 million predicted in August.
But Beach Energy shares fell 3.5 cents, or 2.44 per cent, to $1.40 at 1216 AEDT.
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