Origin Energy has lifted its September quarter oil and gas revenue 58 per cent thanks to the ramp-up at its Australia Pacific liquefied natural gas project in Queensland and higher energy prices.
The energy producer and retailer said oil and gas revenue for the three months to September 30 rose to $678.6 million up 58 per cent on the same period a year earlier, but it was up just one per cent on the preceding three months.
Sales volume for the quarter was up 16 per cent on a year ago at 91.4 petajoules, but was down one per cent from the June quarter.
Production was largely steady on the previous three months, at 89.1 petajoules, but up 20 per cent on the same period in 2016 because of higher APLNG output and increased production from the Otway fields.
APLNG, in which Origin holds a 37.5 per cent stake, has ramped up production over the past 18 months, and produced the first cargo from its second train in October 2016.
The plant had shipped a total of 32 cargoes during the September quarter, Origin chief executive Frank Calabria said.
Origin also supplies gas from its coal seam wells to the project, which counts Conoco Phillips and China Petrochemical Corporation as partners.
Origin Energy in September agreed to sell its Lattice Energy conventional oil and gas exploration business to Kerry Stokes-backed Beach Energy in a $1.585 billion deal.
The deal covers oil & gas projects in the Otway, Cooper, Bass and Bonaparte basins, an interest in the Perth Basin and stakes in the Kupe gas project and the Canterbury basin in New Zealand.
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