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BRIEF-Origin Energy announces expected non-cash impairment

Published 15/02/2017, 10:31 am
© Reuters.  BRIEF-Origin Energy announces expected non-cash impairment
ORG
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Feb 15 (Reuters) - Origin Energy Ltd ORG.AX

* announces expected non-cash impairment

* expects to recognise an impairment charge of approximately $1.9 billion (post tax) in its hy2017 results to be released on 16 February 2017.

* Origin's underlying EBITDA guidance range has improved to $2,450 million to $2,615 million for 2017 financial year

* Origin's underlying ebitda guidance range has improved to $2,450 million to $2,615 million for 2017 financial year, subject to market conditions.

* expects to impair its investments in Browse basin $578 million, newco conventional exploration assets $170 million and energía austral spa $114 million.

* Australia Pacific LNG has recognised an impairment charge on its assets of which origin expects to reflect its 37.5 per cent share

* impairment charge is subject to finalisation of Origin's statements and is an after tax, non-cash item with no impact on cash flow or ebitda.

* impairment of exploration assets that primarily offer low growth has been recognised Source text for Eikon: ID:nASX2zzdRH Further company coverage: ORG.AX

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