Oil Search Limited Announces Unaudited Earnings Results for the Full Year and Production Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Production and Capital Expenditure Guidance for the Year 2013; Announces Final Dividend for the Financial Year 2012, Payable on April 9, 2013
January 29, 2013 at 05:08 am EST
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Oil Search Limited announced unaudited earnings results for the full year and production results for the fourth quarter and full year ended December 31, 2012. For the full year, the company reported revenue from operations of USD 724.6 million against USD 732.9 million a year ago. EBIT was USD 330.9 million against USD 473.7 million a year ago. Profit before tax was USD 347.6 million against USD 439.9 million a year ago. Profit after tax after significant items was USD 175.8 million or 11.5 cents per diluted share against USD 202.5 million or 15.3 cents per diluted share a year ago. Profit after tax before significant items was USD 153.0 million or 11.5 cents against USD 235.7 million or 17.8 cents per diluted share a year ago. Operating cash flow was USD 196.2 million or 14.8 cents per share against USD 386.2 million or 29.3 cents per share a year ago. Net debt was USD 2,377.8 million as at December 31, 2012. EBITDAX was USD 524.3 million compared to USD 585.6 million a year ago.
For the full year, the company's total crude oil production was 5,390,000 bbls against 5,631,000 bbls a year ago. Gas production was 5,267 mmscf against 5,562 mmscf a year ago. Hides condensate was 112,000 bbls against 130,000 bbls a year ago. Barrels of oil equivalent were 6,380,000 boe against 6,688,000 boe a year ago.
For the quarter, the company's total crude oil production was 1,545,000 bbls against 1,402,000 bbls a year ago. Gas production was 1,311 mmscf against 1,273 mmscf a year ago. Hides condensate was 28,000 bbls against 27,000 bbls a year ago. Barrels of oil equivalent were 1,791,000 boe against 1,641,000 boe a year ago.
The company provided production guidance for the year 2013. For the year, the company estimates production to be in the range of 6.2 mmboe to 6.7 mmboe.
The company expects capital expenditure of USD 1,930 million to 2,100 million for the year 2013.
The Board of Directors announced a final dividend for 2012 of 2 cents per share, resulting in a total dividend for the 2012 financial year of 4 cents per share. The record date for the final 2012 dividend payment is March 14, 2013 and the payment date is April 9, 2013. The shares will trade ex-dividend from March 7, 2013.
Oil Search Limited Ltd is a Papua New Guinea-based, which is engaged in oil and gas exploration and production company. It is engaged in the exploration for oil and gas fields and the development and production of such fields. The Company's segments include Portable Network Graphics Business Unit (PNG BU), Exploration and Other. The PNG BU segment is engaged in the development, production and sale of liquefied natural gas (LNG), crude oil, natural gas, condensate, naphtha, other refined products and electricity from the Company's interest in its operated assets for Papua New Guinea crude oil and Hides gas-to-electricity operations and from the Company's interest in the PNG LNG Project. The Exploration segment is engaged in the exploration and evaluation of crude oil and gas in Papua New Guinea. The Other segment includes the Company's ownership of drilling rigs, investment and development towards the Company's power strategy and corporate activities.
Oil Search Limited Announces Unaudited Earnings Results for the Full Year and Production Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Production and Capital Expenditure Guidance for the Year 2013; Announces Final Dividend for the Financial Year 2012, Payable on April 9, 2013
OIL SEARCH 
