Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

BRIEF-Oil Search reports HY net profit after tax of $227.5 mln vs $152.5 mln last year

Published 25/08/2015, 10:05 am
© Reuters. BRIEF-Oil Search reports HY net profit after tax of $227.5 mln vs $152.5 mln last year
OSH
-

Aug 25 (Reuters) - Oil Search Ltd OSH.AX :

* HY total revenue $863.8 million versus $510.0 million last year

* HY net profit after tax $227.5 million versus $152.5 million

* HY total sales 14.45 mmboe versus 4.737 mmboe last year

* HY total production 14.32 mmboe versus 5.369 mmboe last year

* Says HY unit production costs fell 43%, from US$15.49 per boe to US$8.90 per boe

* "Targeting to increase high-margin operated Oil production by approximately 5% over current forecasts in 2016/2017 onwards"

* "Restructuring costs of approximately US$10 million in 2015 are captured within existing 2015 cost guidance"

* Interim dividend 6.0 cents per share

* Says capital costs for the 2015 full year are expected to be between US$610 million and US$690 million

* 2015 full year production guidance has been upgraded to 27 -29 mmboe

* Range of initiatives identified by the review will be progressively rolled out over the second half of 2015 and into 2016

* Sees FY production costs of US$9 - 11/boe

* "Some areas of business, such as investment in lng growth and png exploration, will be bolstered"

* "Guidance for other operating costs remains unchanged at US$145 -- 165 million"

* Certain initiatives are targeting a 15 - 20% reduction in our controllable operating and capital unit costs from 2016 onwards

* "Aiming for savings of between US$2.50 and US$3.50 per boe for Oil Search operated Oil and gas production"

* Source text for Eikon ID:nASX5r7D09

*

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.