Oil Search says it is on track to achieve the upper end of its full-year production guidance range, helped by strong output at the PNG LNG project.
The Papua New Guinea-focused oil and gas producer lifted September quarter production to 7.91 million barrels of oil equivalent, a nine per cent increase over the preceding three months.
Record production was underpinned by an excellent performance from the PNG LNG Project, the company said.
"Since the PNG LNG Project compressor upgrades took place in May, production from the project has increased substantially," managing director Peter Botten said.
The ExxonMobil-operated PNG LNG project, in which Oil Search owns a 29 per cent stake, contributed 6.39 mmboe to production while producing at the highest quarterly rate since it came onstream in 2014.
Revenue for the company's third quarter jumped 15 per cent to $US380.8 million ($A484.9 million) despite a six per cent decline in gas prices over the period.
That was mostly a result of an 18 per cent increase in sales volume to 8.19 mmboe.
The average realised price for oil and condensate was three per cent higher at $US52.75 per barrel, it said.
Oil Search says it is on track to achieve the upper end of its 29.0 to 30.5 mmboe full-year production guidance range.
It has also narrowed the production cost guidance, raising the bottom end of the range to $US8.50 per boe from $US8.0 previously, and cut full-year capital cost guidance to between $US295 million to $US340 million, from $US350 to $US400 million previously.
By 1125 AEDT, Oil Search shares were up 0.8 per cent to $7.27 in a firm Australian market.
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