Softer results from Oil Search

STILL in the shadow of the unresolved three-train LNG expansion planned for Papua New Guinea, Oil Search released its 2019 full-year results yesterday.
Softer results from Oil Search Softer results from Oil Search Softer results from Oil Search Softer results from Oil Search Softer results from Oil Search

Staff Reporter

Net profit after tax was $312.4 million, 8% lower than in 2018, largely due to the fall in global energy prices.
 
Operating cash flow of $752.4 million was used to help fund PNG LNG project debt repayments, dividends and appraisal and pre-FEED activities for the company's growth projects in PNG and Alaska.
 
At the end of 2019, the company had $1.2 billion in liquidity, comprising $396 million in cash and $756 million in undrawn credit facilities. Net debt totalled $3.0 billion.
 
A final dividend of 4.5c per share was announced, taking total dividends for 2019 to 9.5c per share, compared to 10.5c in 2018. This represented a 46% payout ratio.
 
All the results and other announcements may be found at this address: https://bit.ly/37PD65q

 

topics

loader