Beach Energy (ASX:BPT) has pointed to higher costs operating its Cooper Basin JV as a key reason why underlying profits fell -11% in FY24. The company wrapped up the late financial year with $341M in profits, down from $385M in FY23. Earnings margins contracted by -7bps. Operating cash flow is down -17% to $774M. At the same time – perhaps unsurprising – overall production volumes fell -7% to hit 18.2 million barrels of oil equivalent (MMboe) in FY24 vs FY23’s 19.5MMboe. Alongside higher costs in the Cooper, Beach also pointed to lower Otway Basin customer nominations and “timing of liquids li…