PERTH, July 31 - Origin Energy Ltd (ORG.AX), Australia's second-largest power retailer, on Friday posted a 16 percent rise in fourth-quarter production and said its coal seam gas reserves have increased by as much as 50 percent.
Origin, which is in a partnership with U.S. ConocoPhillips (COP.N) for a gas export project, said total oil and gas production in the quarter ended June 30 was 25 petajoules equivalent (PJe), it said in a statement.
Revenue in the quarter was A$135 million ($111.4 million).
Origin, which did not give a full-year production forecast for the financial year, in June cut its full-year earnings guidance and said its underlying profit was expected to rise less than 20 percent, versus an earlier forecast of between 20-25 percent higher than a year ago. ($1=1.212 Australian Dollar)
Origin, which is in a partnership with U.S. ConocoPhillips (COP.N) for a gas export project, said total oil and gas production in the quarter ended June 30 was 25 petajoules equivalent (PJe), it said in a statement.
Revenue in the quarter was A$135 million ($111.4 million).
Origin, which did not give a full-year production forecast for the financial year, in June cut its full-year earnings guidance and said its underlying profit was expected to rise less than 20 percent, versus an earlier forecast of between 20-25 percent higher than a year ago. ($1=1.212 Australian Dollar)
