Origin Energy has flagged a further $337 million hit to its bottom line due to lower oil prices and changes to its development plans.
The energy retailer and oil and gas producer will reduce the carrying value of three Australian production assets in its accounts for the 2014/15 financial year.
The largest impairment is a $180 million cut on its operations in the Cooper Basin in central Australia, while assets in the Bass and Otway basins off the coasts of Tasmania and Victoria are also affected.
The new charges reflect changes to Origin's estimated reserves at each site, changed development plans and lower oil prices.
They come after a $53 million cut to the value of its New Zealand assets taken in the first half of the financial year.
There will be no impact on its Australia Pacific LNG project in Queensland, which is expected to be a major driver of Origin's growth in the coming years.
Origin shares fell 31 cents, or 3.05 per cent, to $9.84.
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