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Origin posts 28 per cent production rise

Origin Energy's strong production and revenue increases have been put down to previous capital investment.

Origin Energy Managing Director Grant King

Origin Energy's strong production and revenue increases have been put down to previous investment. (AAP)

Energy provider Origin has announced a 28 per cent jump in production volumes.

Gas production volumes from the company's Otway Basin operations in Victoria rose to 37 petajoules during the December quarter of last year.

This marked a 28 per cent increase when compared with the corresponding period in 2012.

During that time, sales revenue rose by 39 per cent to $281 million, which Origin said reflected increased production volumes, higher average commodity prices and firmer third party sales volumes.

Origin's chief executive of upstream operations Paul Zealand said previous capital expenditure had improved production reliability.

The Otway plant has been producing natural gas and liquefied natural gas since 2007.

Origin took over operation from Woodside Energy in 2010.

The company's shares rose by four cents to $13.98.


1 min read

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Source: AAP


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