Origin reports record production from APLNG

Commenting on the report, Origin CEO Frank Calabria said:

“Australia Pacific LNG continues to perform well and is making an increasingly important contribution to Origin.”

“For the June quarter, the Upstream team delivered record production levels and record revenue was also achieved.”

“Across FY18, we saw strong uplifts in production, sales and revenue, reflecting a full year’s contribution from Australia Pacific LNG’s Train Two and assisted by strengthening commodity prices. A total of 125 LNG cargoes were loaded and shipped for the year.”

“Australia Pacific LNG also delivered net cash flows to Origin of AUS$363 million in FY2018.”

Overview

• Record production from APLNG for the June 2018 quarter of 64 PJ (Origin share).
• Over FY2018, Origin’s share of APLNG production was 254 PJ, an increase of 11% and consistent with guidance of 245 – 265 PJ.
• Share of revenue over FY2018 was AUS$2.05 billion, an increase of 42%.
• Origin received net cash flows from APLNG of AUS$363 million over FY2018.
• APLNG expects to complete three separate planned maintenance shutdowns in the September quarter, with each resulting in a half train outage for approximately one week.
• Following a technical and commercial review of Gilbert Gully (ATP663), Australia Pacific LNG has recorded an exploration write-off and intends to divest the permit. Origin’s share of this divestment write-down is AUS$41 million.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/31072018/origin-reports-record-production-from-aplng/