Origin reports substantially higher production and sales revenue
PERTH (miningweekly.com) – Oil and gas producer Origin Energy on Monday reported a 12% quarter-on-quarter production increase and said its full-year production surged by 40%.
During the fourth quarter, ended June, Origin produced 89.2 PJe, compared with the 79.7 PJe produced in the third quarter, while full-year production increased from 231.5 PJe to 323.2 PJe.
The higher production was driven by the ramp-up of operations at the Australia Pacific liquefied natural gas (APLNG) project, with its second train starting operations in October last year, as well as the Halladale/Speculant wells, in the Otway basin, coming on line in August last year.
As a result of the increased production, sales for the June quarter increased by 15%, to 92.4 PJe, while full-year sales were up 46% to 333.5 PJe. Revenue for the quarter increased by 20%, to A$673.4-million, while full-year revenue more than doubled from A$1.07-billion to A$2.2-billion.
“The substantial uplift in production and sales revenues for the year reflect strong operational performance across our upstream operations,” said Origin CEO Frank Calabria.
“APLNG continues to hit milestones and has now concluded the 90-day operational phase of the two train project finance lenders’ test. This represents a significant step in releasing the remaining $3.4-billion of shareholder guarantees relating to APLNG’s $8.5-billion project finance facility, which is now expected to occur in the first quarter of 2018.”
APLNG shipped 33 cargoes during the June quarter.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation