Nov 24 (Reuters) - Oil Search Ltd OSH.AX :
* 2015 production expected to be at upper end of 27 - 29 mmboe guidance range"
* Production remains highly profitable even in current lower Oil price environment"
* "Total exploration and appraisal budget (PNG and international) for 2015-2016 of US$200-300M pa"
* "Oil market appears oversupplied into 2016, inventories remain at record levels"
* "2016 budgets yet to be finalised, CAPEX expected to be around 40-50% lower than 2015"
* Source text for Eikon ID:nASX23Yb8D