Origin posts steady results

Flat: Origin's fourth quarter results were on par with those reported a year earlier

Origin Energy fourth quarter results for 2012 where on par with a year earlier as production remained steady and prices rose.

Sales revenue for the quarter was A$200.2 million, up 1% on the final quarter of 2011, which Origin attributed to higher average commodity prices.

Output for the three months to 31 December also increased by 1%, year-on-year, to about 5 million barrels of oil equivalent.

Origin said increased output from the Otway basin, off south-east Australia, helped offset the suspension of gas operations at the Kincora field in Queensland’s Surat basin.

Increased Otway production also helped offset the lower share of production from the Australia Pacific liquefied natural gas (APLNG) development following…

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