Ori­gin ramps up pro­duc­tion

Townsville Bulletin - - NEWS -

ORI­GIN En­ergy has lifted ful­lyear oil and gas pro­duc­tion 40 per cent to 323 peta­joules, helped by the ramp- up of op­er­a­tions at its Aus­tralia Pa­cific liq­ue­fied nat­u­ral gas pro­ject and bet­ter- thanex­pected out­put from its con­ven­tional oil and gas busi­ness.

Oil and gas rev­enue for the year to June 30 more than dou­bled to $ 2.2 bil­lion, helped by the in­creased pro­duc­tion and bet­ter prices.

Chief ex­ec­u­tive Frank Cal­abria said the re­sult was a mark of the com­pany’s strong op­er­a­tional per­for­mance.

The APLNG pro­ject in Queens­land, in which Ori­gin holds a 37.5 per cent stake, has ramped up pro­duc­tion over the past 18 months, and started pro­duc­ing from its sec­ond train in Oc­to­ber 2016.

Out­put from its Lat­tice En­ergy suite of con­ven­tional oil and gas as­sets also ex­ceeded 90 peta­joules. SHARES in wind farm op­er­a­tor In­fi­gen En­ergy have re­bounded from an early ses­sion fall amid news that record low wind gen­er­a­tion had re­sulted in a 36 per cent slump in quar­terly rev­enue.

The Syd­ney- based com­pany, which owns and sells 557 megawatts of wind- gen­er­ated elec­tric­ity through the spot mar­kets, said record low wind con­di­tions across its NSW and South Aus­tralian farms had re­sulted in a 37 per cent drop in pro­duc­tion.

Pro­duc­tion fell to 254 GWh, from 406 GWh in the same pe­riod last year, with wind out­put 40 per cent be­low the pre­vi­ous June quar­ter and 30 per cent be­low its pre­vi­ous June av­er­age, the com­pany said. How­ever, In­fi­gen said its full- year pro­duc­tion was up 1 per cent on the pre­vi­ous year.

PREMISE PRIN­CI­PALS: An­drew Buck­ley ( sit­ting), with Colin Duff, Pa­trick Brady and David Pol­lock.

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