Those hoping to learn whether Brett Woods plans to buy assets may have been disappointed on Monday, when the newly appointed Beach Energy boss said he would provide more insight later in the year.
Mr Woods, a former Santos executive, comes highly commended into the top job at Beach, but sources say he made it clear while delivering the company’s results that his priority is reducing costs in the business and improving performance.
While he was not specifically asked whether Beach Energy was a keen buyer of Woodside’s Macedon and Pyrenees assets, which are on the market, many believe Beach Energy would be the logical owner.
Shortlisted buyers are Jadestone Energy, The Carlyle Group and Hibiscus Petroleum.
When asked if he would be ready for mergers and acquisitions, Mr Woods said he would provide an update on the company’s strategy, which is under review, at the company’s full-year result to be delivered in August.
However, this week Mr Woods has private one-on-one meetings with investors, so he may provide more insight while not under the spotlight in the days ahead.
Beach Energy counts Seven Group Holdings, the company of billionaire Kerry Stokes, as its major shareholder.
Shares in the $3.8bn Beach Energy closed up 5.4c to $1.71.
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