Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Oil Search Limited    OSH   PG0008579883

OIL SEARCH LIMITED

(OSH)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 11/26
3.79 AUD   -0.79%
11/27Australia shares end lower as vaccine doubts weigh
RE
11/26OIL SEARCH : Update on Chief Financial Officer Role
PU
11/19Climate action investor group adds Saudi Aramco to focus list
RE
SummaryChartsNewsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Oil Search Q3 revenue nearly halves on coronavirus hit to LNG prices

10/19/2020 | 08:08pm EST

Oct 20 (Reuters) - Australia-listed Oil Search Ltd posted on Tuesday a 47.7% slump in third-quarter revenue, missing analysts' estimates, as the coronavirus outbreak kept crude prices subdued and hurt prices of its key liquefied natural gas (LNG) product.

The company, however, said it was seeing a return in appetite for oil products, with oil prices recovering from lows hit in the second-quarter which is expected to increase LNG contract prices going forward.

For the three months ended Sept. 30, average sales prices Oil Search received for its liquefied natural gas were 55% lower than the same period last year.

Plunging commodity prices have whacked Oil Search's first-half profit and driven its share price lower by nearly 60% this year. To tackle this, it has been trying to keep a tight leash on costs through various measures, including layoffs.

Posting its third straight quarterly drop, the Papua New Guinea-focused oil and gas explorer said third-quarter revenue came in at $189 million, down from $361.1 million a year earlier and much lower than brokerage RBC's estimate of $261 million.

Helped by higher output at the PNG LNG project, production in the quarter rose about 7% to 7.30 million barrels of oil equivalent (mmboe).

The company added that it will lay out long-term plans for the business as a result of a "wide-ranging" strategic review on Nov. 19. (Reporting by Anushka Trivedi & Nikhil Subba in Bengaluru; Editing by Chris Reese and Muralikumar Anantharaman)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 1.13% 48.24 Delayed Quote.-27.73%
OIL SEARCH LIMITED -0.79% 3.79 End-of-day quote.-47.72%
WTI 1.29% 45.54 Delayed Quote.-26.73%
All news about OIL SEARCH LIMITED
11/27Australia shares end lower as vaccine doubts weigh
RE
11/26OIL SEARCH : Update on Chief Financial Officer Role
PU
11/19Climate action investor group adds Saudi Aramco to focus list
RE
11/19Oil Search sees Total's Papua LNG advancing ahead of Exxon's P'nyang
RE
11/18Oil Search sees Total's Papua LNG advancing ahead of Exxon's P'nyang
RE
11/18OIL SEARCH : Alaska Update
PU
11/18OIL SEARCH : Strategy Update and Investor Briefing 2020
PU
11/18Financials push Australian shares to near 9-month high; NZ snaps 11-day rally
RE
11/16Australian shares resume trade without incident, gain on vaccine hopes; NZ up
RE
11/15Australia bourse halts trading on 'data issues' after shares hit 8-mth high
RE
More news
Financials
Sales 2020 1 532 M 1 130 M 1 130 M
Net income 2020 -367 M -271 M -271 M
Net Debt 2020 3 335 M 2 461 M 2 461 M
P/E ratio 2020 -23,6x
Yield 2020 0,16%
Capitalization 7 584 M 5 607 M 5 597 M
EV / Sales 2020 7,13x
EV / Sales 2021 6,36x
Nbr of Employees 1 607
Free-Float 99,2%
Chart OIL SEARCH LIMITED
Duration : Period :
Oil Search Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends OIL SEARCH LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 3,99 AUD
Last Close Price 3,65 AUD
Spread / Highest target 52,1%
Spread / Average Target 9,19%
Spread / Lowest Target -15,1%
EPS Revisions
Managers
NameTitle
Kieran Wulff Managing Director & Director
Richard John Lee Chairman
Stephen W. Gardiner Chief Financial Officer
Beth White Executive VP-Sustainability & Technology
Kostas Goerge Constantinou Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
OIL SEARCH LIMITED-47.72%5 607
CNOOC LIMITED-25.93%54 436
INPEX CORPORATION-45.71%8 577
LUNDIN ENERGY AB-32.45%7 198
DEVON ENERGY CORPORATION-43.09%5 654
PARSLEY ENERGY, INC.-27.29%5 207