Oil Search Ltd. (OSH.AU) said Wednesday it has a number of levers it can pull to manage its capital, including a capital raising, assets sales or hedging.

Oil Search, however, said it will only conduct a capital raising as a last resort.

The Port Moresby-based company needs to conserve capital to help fund its share of the Exxon Mobil-led PNG LNG liquefied natural gas project in Papua New Guinea.

It has already announced big cuts in exploration and development spending and introduced an underwritten dividend reinvestment plan.

In a slideshow presentation at the Macquarie Australia Conference in Sydney, Oil Search said there are "many other levers, including hedging, asset sales, capital raising" that it can pull.

By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957; ross.kelly@dowjones.com
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