News: ORG Origin Energy announces expected non-cash impairment

Feb 15 (Reuters) - Origin Energy Ltd (ORG)

• announces expected non-cash impairment
• expects to recognise an impairment charge of approximately $1.9 billion (post tax) in its hy2017 results to be released on 16 February 2017.
• Origin's underlying EBITDA guidance range has improved to $2,450 million to $2,615 million for 2017 financial year
• Origin's underlying ebitda guidance range has improved to $2,450 million to $2,615 million for 2017 financial year, subject to market conditions.
• expects to impair its investments in Browse basin $578 million, newco conventional exploration assets $170 million and energía austral spa $114 million.
• Australia Pacific LNG has recognised an impairment charge on its assets of which origin expects to reflect its 37.5 per cent share
• impairment charge is subject to finalisation of Origin's statements and is an after tax, non-cash item with no impact on cash flow or ebitda.
• impairment of exploration assets that primarily offer low growth has been recognised