(Recasts paragraph 1, updates with more details)
Oct 31 (Reuters) - Origin Energy (ORG) , currently in the process of ratifying a $9.67 billion takeover bid from a Brookfield-led consortium, on Tuesday reported a 5% fall in first-quarter revenue from its Australia Pacific LNG (APLNG) project due to lower realised average oil and natural gas prices.
The country's second largest power producer said revenue from APLNG, a joint venture with ConocoPhillips COP.N and Sinopec 600028.SS , fell to A$553 million ($352.37 million) in the three months to Sept. 30 from A$581 million a year ago.
Origin currently owns a 27.5% stake in the project.
Quarterly production from APLNG came in at 174.9 petajoules, marginally from 175.8 petajoules in the June quarter, but was 4% higher from the previous corresponding period due to increased number of wells online.
Average realised price for LNG in the quarter was $11.62 per metric million British thermal unit (mmBtu), down from $14.04 per mmBtu a year earlier.
Separately, Superannuation fund AustralianSuper said that it will vote against Brookfield-led consortium's takeover offer for Origin Energy stating the offer undervalues the energy producer.
($1 = 1.5694 Australian dollars)
News: ORG UPDATE 1-Australia's Origin Energy first-qtr APLNG revenue falls on lower realised prices
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