News: OSH Oil Search Says Q3 Total Production 7.30 MMBOE

Oct 20 (Reuters) - Oil Search Ltd (OSH) :

• Q3 TOTAL PRODUCTION 7.30 MMBOE VERSUS 7.29 MMBOE IN PRIOR QUARTER
• 2020 CAPITAL INVESTMENT GUIDANCE LOWERED TO US$390 - 460 MILLION
• Q3 TOTAL SALES 7.55 MMBOE VERSUS 6.79 MMBOE IN PRIOR QUARTER
• Q3 TOTAL REVENUE US$ 189.0 MILLION VERSUS US$266.2 MILLION IN PRIOR QUARTER
• 2020 PRODUCTION AND UNIT PRODUCTION COST GUIDANCE REMAIN UNCHANGED.
• OTHER OPERATING COSTS IN 2020 ARE FORECAST TO BE BETWEEN US$90 – 110 MILLION, LOWER THAN THE PREVIOUS GUIDANCE
• OPTIMISATION STUDIES TARGETING MATERIAL INITIAL DEVELOPMENT CAPITAL REDUCTION & LOWER BREAKEVEN OF PIKKA UNIT DEVELOPMENT NEARING COMPLETION
• NEGOTIATIONS BETWEEN PNG GOVERNMENT & BARRICK ABOUT RESTART OF PORGERA MINING OPERATIONS HAVE REPORTEDLY RECOMMENCED
• DISCUSSIONS ONGOING BETWEEN ALL PARTIES ON PROGRESSING LNG EXPANSION OPPORTUNITIES IN PNG
• OIL SEARCH LTD SEES POTENTIAL IMPROVEMENT IN LNG PRICE OUTLOOK
• FOR PIKKA UNIT, PLANS TO ANNOUNCE OUTCOME OF STUDIES & REVISED DEVELOPMENT PLAN ON NOV 19

Source text: (https://bit.ly/34djs4Q)

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