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Oil Search Q3 revenue plunges 48%

Australia-listed Oil Search Ltd on Tuesday posted a 47.7% fall in third-quarter revenue, its third straight quarterly drop, hit by a coronavirus-driven fall in oil and gas prices.

Oct 20 (Reuters) - Australia-listed Oil Search Ltd OSH.AX on Tuesday posted a 47.7% fall in third-quarter revenue, its third straight quarterly drop, hit by a coronavirus-driven fall in oil and gas prices.

The Papua New Guinea-focused oil and gas explorer reported revenue of $189 million for the three months ended Sept. 30, down from $361.1 million a year earlier.

Production in the quarter rose 7.4% to 7.30 million barrels of oil equivalent (mmboe), compared with an RBC estimate of 6.9 mmboe.

(Reporting by Anushka Trivedi & Nikhil Subba in Bengaluru; Editing by Devika Syamnath and Chris Reese)

((Nikhil.Subba@thomsonreuters.com; Reuters Messaging: Nikhil.Subba.thomsonreuters.com@reuters.net))

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