Markets

Oil Search Q2 Total Production Down 9.6%; Backs FY Production Outlook

(RTTNews) - Oil Search Ltd (OSH.AX) reported that its second-quarter total production declined 9.6% to 6.59 million barrels of oil equivalent or mmboe, from last year. Total sales were 6.70 mmboe, down from 6.79 mmboe in the previous year.

But quarterly operating revenue was US$366.2 million, up from US$266.2 million in the prior year.

The company said it is on track to deliver full year 2021 production and capex guidance. It still expects annual total production to be in the range of 25.5 mmboe - 28.5 mmboe and total investment expenditure of US$250 million - US$350 million.

The company's first half results will be issued to the market on 24 August 2021.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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