Origin reports higher production for fourth quarter ’09

News from the Southern Hemisphere….

Origin reports higher production for fourth quarter ’09 (Scandinavian Oil-Gas Magazine).

The Exploration and Production business reported a 2 percent increase in production and a 16 percent increase in sales revenue for the quarter to December 2009 compared with the previous corresponding period in December 2008. The increases were primarily due to gas sales from storage, increased production from New Zealand assets, and higher liquids prices.

Production and sales revenue for the Half Year to December 2009 were 14 percent and 9 percent respectively lower than in the Half Year to December 2008. While partially offset by the sale of gas in storage, this was primarily attributed to the dilution of Origin’s share of CSG together with lower contractual off-takes during the period and natural field decline.