By Ross Kelly
SYDNEY--Oil Search Ltd. (OSH.AU) said Tuesday it had put more
exploration prospects in Papua New Guinea up for sale, as the
company booked a steady rise in fourth-quarter production and
revenue.
The Australian oil and gas producer said it had opened a data
room and begun the process of selling half of its interest in a
permit located in the Gulf of Papua. It is offering the right to
buy a stake in a second permit in the same area.
Several parties have already accessed the data room, with final
bids due in early 2013, Oil Search said. The company recently sold
stakes in some other permits in the Gulf of Papua to Total SA.
Group oil and gas output for the three months to Dec.31 of 1.79
million barrels of oil equivalent was up 9.1% from a year earlier,
while revenue for the quarter rose 8.3% to US$218.2 million, the
company said in the same statement.
Annual output of 6.38 million BOE was in line with company
guidance of 6.2 million-6.7 million BOE, it added.
Write to Ross Kelly at ross.kelly@wsj.com
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