Oil Search HY17 revenue up, production down

Company News

by Jessica Amir

Oil Search (ASX:OSH) has reported a 16 per cent gain in revenue for the half year ended 30 June 2017 of US$676.2 million, compared to the prior corresponding period in 2016. At the same time though, its production fell 1 per cent over the period.

For the June quarter end, the oil and gas explorer and developer saw a drop in production, sales and revenue (compared to PCP) on the back of scheduled maintenance at three of the company’s facilities.

Oil Search says the planned works took place at the central processing facility (CPF), Agogo production facility (APF) and at the PNG LNG project plant site, which occurred in May.

The company will release its full year results on 22 August 2017.

Shares in Oil Search (ASX:OSH) are trading 1.25 per cent lower to $6.70.

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.