Strong performance in the June quarter: Origin Energy Ltd.’s (ASX: ORG) stock rose 0.93% on July 31, 2018 after the company’s share of APLNG production increased by 2% to 64 PJ in June quarter compared to March 2018 quarter. This is driven by gains associated with optimising operated production. During FY 18, Origin’s share of APLNG production increased 11% to 254 PJ, and is consistent with guidance of 245 – 265 PJ. ORG’s share of revenue over FY 18 grew 42% to $2,054 million. The company had received net cash flows from APLNG of $363 million over FY18. Moreover, APLNG expects to complete three separate planned maintenance shutdowns in the September quarter, and each will result in a half train outage for approximately one week. After a technical and commercial review of Gilbert Gully (ATP663), Australia Pacific LNG has booked an exploration write-off and plans to divest the permit. ORG’s share of this divestment write-down is $41 million.
June 2018 Quarter Performance (Source: Company Reports)
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