Oil Search posts profits

OIL Search posted profits up 236% for calendar 2017, combined with a US$466 million debt reduction and production costs of $8.67 per barrel of oil equivalent, giving it an operating margin of 73%.

Oil Search posts profits Oil Search posts profits Oil Search posts profits Oil Search posts profits Oil Search posts profits

Strong production from PNG LNG saw the dividend nearly triple from 3.5c to 9.5c.

 
Operating cash flow for 2017 was $843.6 million, net debt declined from $3.1 billion to $2.6 billion and strong production from PNG LNG saw the dividend nearly triple from 3.5c to 9.5c.