52 Week Range
As of on the Australian Stock Exchange Ltd ∙ Minimum 15 minute delay
3M AVG Volume
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Oil Search Says Ayten Saridas To Resign As CFO Designate
Oil Search Sees Higher Operating Expenditure And Lower Production In 2021
Oil Search Intends To Sell 15% Interest In Pikka Project, Other Alaska Assets
Oil Search Limited is an oil and gas exploration and production company. The Company is engaged in the exploration for oil and gas fields and the development and production of such fields. The Company's segments include PNG Business Unit (PNG BU), Exploration and Other. The PNG BU segment is engaged in the development, production and sale of liquefied natural gas (LNG), crude oil, natural gas, condensate, naphtha, other refined products and electricity from the Company's interest in its operated assets for Papua New Guinea crude oil and Hides gas-to-electricity operations and from the Company's interest in the PNG LNG Project. The Exploration segment is engaged in the exploration and evaluation of crude oil and gas in Papua New Guinea. The Other segment includes the Company's ownership of drilling rigs, investment and development towards the Company's power strategy and corporate activities. The PNG LNG Project is a 6.9-million tons per annum (MTPA) integrated LNG project.
Oil & Gas Operations
PO Box 842
Papua New Guinea
Richard John Lee
Independent Non-Executive Chairman of the Board
Keiran John Wulff
Managing Director, Executive Director
Stephen W. Gardiner
Chief Financial Officer
Executive Vice President - Corporate, General Counsel, Group Secretary
Executive Vice President - Portfolio Management, Gas and Marketing
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Oil Search Ltd <OSH.AX> said on Thursday its stalled plan to expand gas output in Papua New Guinea would now focus on the Papua LNG project, led by Total SA <TOTF.PA>, in a change of tack following political ructions in Papua New Guinea.
Australia-listed Oil Search Ltd posted on Tuesday a 47.7% slump in third-quarter revenue, missing analysts' estimates, as the coronavirus outbreak kept crude prices subdued and hurt prices of its key liquefied natural gas (LNG) product.
* New LNG demand window seen opening in 2027 (Recasts with CEO comments)
Australia-listed Oil Search Ltd on Tuesday reported a 30% drop in second-quarter revenue on plunging oil prices, just below estimates, and said it was on track to meet its 2020 production guidance.
Oil Search Ltd <OSH.AX> said on Monday it plans to write off around $380 million, mostly on some exploration assets and a gas-to-power project in Papua New Guinea, due to the outlook for oil and gas prices and the shut down of a gold mine.
Oil Search Ltd said on Monday it expects to record an impairment charge in its half-year results to reflect a drop in the value of some assets due to the possible long-term impact of current economic conditions and weak oil and gas outlook.
Papua New Guinea-focused oil and gas firm Oil Search said on Wednesday it has axed a third of its workforce amid slumping demand, in a shake-up that also aims to reserve more senior positions for Papua New Guinea (PNG) citizens and women.
Australia's Oil Search on Wednesday said it has reduced its total workforce by around 34% under its cost restructuring review to cushion the blow from subdued oil prices as a result of the coronavirus pandemic.
* SECURITIES COMMISSION OF PAPUA NEW GUINEA ISSUED ORDERS THAT TRADING OF CO'S SHARES ON PNG'S STOCK EXCHANGE BE SUSPENDED FROM 2 JUNE
Oil Search is considering cutting its oil production in Papua New Guinea from July due to weak global oil prices, Managing Director Keiran Wulff said on Tuesday.
Oil Search on Tuesday posted a near 10% drop in first-quarter revenue but sharply beat estimates, and said it was aiming to lower production costs in a bid to weather an oil price crash.
* QTRLY TOTAL PRODUCTION 7.37 MMBOE VERSUS 7.25 MMBOE REPORTED LAST YEAR
Oil Search on Tuesday posted a near 10% drop in first-quarter revenue, as an oil price war and measures to slow the coronavirus pandemic pummelled demand and dragged down prices for the commodity.
Oil Search Ltd said on Tuesday it will raise up to A$1.16 billion ($706 million) through a discounted share sale and cut costs as it looks to weather a prolonged period of weak oil prices.
* EQUITY RAISING WILL BE CONDUCTED AT AN OFFER PRICE OF A$2.10 PER SHARE
Oil Search Ltd plans to raise A$1.1 billion ($666 million) through a share sale to weather weak oil prices through 2021, two people who have been approached about the capital raising said on Monday.
* NOTES PAPUA NEW GUINEA'S IMPLEMENTATION OF A SERIES OF MEASURES IN RESPONSE TO CORONAVIRUS
Oil and gas producer Santos Ltd said on Monday it will slash capital spending in 2020 and defer an investment decision on Barossa as oil prices plunge and the coronavirus outbreak dents business sentiment.
* UNDERTAKEN A COMPREHENSIVE REVIEW OF ITS PLANNED ACTIVITIES IN 2020
Oil Search Ltd has frozen all activity in Papua New Guinea other than maintaining current production and has put on hold early development work on its Alaskan oil project to cope with crashing oil prices.
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