Origin: pumps up the volume
Origin pumps up the volume
Australia's Origin Energy today posted a 2% gain in its second-quarter output and a 16% increase in revenue, as it benefited from higher commodity prices.
Production for the three months ended 31 December stood at 24 petajoules equivalent (PJe), bringing its half year output to 49.8 PJe.
Sales revenue for the quarter was A$135.4 million ($121.1 million).
Origin, which has partnered US company ConocoPhillips to develop a gas export project in Australia using its coalbed methane (CBM) gas, has not given a production forecast for fiscal year 2010.
It has said that increased output from its power stations, wind farms, and the start up of the Kupe gas field in New Zealand would help boost its underlying profit by between 10% and 15%.