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Oil Search’s production ramps up in Sep quarter
October 18, 2016 11:35 AM

Oil Search’s (ASX:OSH) total revenue rose by 16% to $309.5 million in the September quarter, compared to the second quarter revenue figure.

The company also says its total production increased by 6% to 7.65 million barrels of oil equivalent over the last quarter.

Oil Search’s average oil and condensate price was US$47.24 per barrel, which was slightly lower compared to the second quarter.

However, its average realised liquefied natural gas price was 23% higher at US$6.44 per million British thermal units.

The company says its production and operating cost guidance for the full year remains unchanged, learning towards the upper end of the range. However, capital cost guidance is around 12% lower than previously indicated.

Oil Search posted a net profit of $34.4 million at 30 June 2016.

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