Tag: ORG

Origin shares hit two-year highs yesterday after the company released positive September quarter results.

As expected the heavy write down revealed last week in the value of its export LNG project in Queensland has seen Origin Energy report a $2.2 billion net loss for the year to June – more than three times the loss of a year earlier which saw a much smaller write down of the value of the LNG project.

Shares in Origin Energy hardly moved yesterday after the company revealed that it had more than doubled annual sales of oil and gas, driven primarily by the ramp-up of its LNG export venture in Queensland and also by the growth in its conventional oil and gas business about to be spun off as Lattice Energy.

A wary thumbs down from some analysts for Origin Energy’s planned float of its conventional petroleum business.

The new management at Origin Energy has kept their word and revealed details to split the company in two to meet demands from investors for a more transparent structure.

Investors will be watching Origin Energy shares today to see if the sharp rebound on Friday after a new CEO was revealed, survives Friday night’s sharp slump on Wall Street and a 4% slump in global oil prices.

Origin Energy (ORG) has followed up a warning earlier this year and scrapped its final dividend after revealing a second annual loss in a row.

If global oil prices continue under pressure in coming months, shareholders in struggling Origin Energy (ORG) face the prospect of losing their dividend completely after the interim was more than halved yesterday.

Origin (ORG) shares came under selling pressure yesterday, as expected, after coming out of a trading halt to allow for the start of the $2.5 billion capital raising from shareholders large and small.

It’s a message to the boards and managements of all indebted resource companies at the moment – the collapse in commodity prices demands tough and dramatic action to reassure investors and banks that the companies in question can remain viable businesses.

Origin Energy (ORG) will suffer a loss of around $270 million in its 2014-15 results later this month after the $NZ1.8 billion ($A1.6 billion) sale of its 53.1% stake in NZ power supplier, Contract Energy.

Origin Energy (ORG) has joined its big rival AGL Energy (AGK) in revealing cost cuts and restructurings to accommodate a slowing in demand for energy in the next few years.

Good news and bad news for Origin Energy (ORG) shareholders at yesterday’s annual meeting.

Origin Energy is rushing to complete a $2.3 billion issue to refinance some of the debt used in its recent acquisition of NSW electricity assets.

Origin Energy says it has been unable from buying the full 51.55% stake in the Otway Gas Project from Woodside, after a third member of the joint venture partner decided to exercise some of its pre-emption rights in the project.

Delevopers of New Zealand’s Kupe Gas Project said today they are set to undertake exploration drilling of the Momoho prospect, 6 kilometres south of the Kupe Gas Field and within the Kupe permit area.

Origin Energy (ORG) said on Thursday it expects a strong second half after delivering a fall in underlying profit for first half results, propelling the shares in the gas and electricity retailer as much as 8.6% higher.

Origin Energy's (ORG) gas plant had shut down due to a fire in the condensate/gas separation part of the plant on Monday 24 December 2007.

Origin Energy (ORG) and Contact Energy are set to acquire New Zealand's Swift Energy Oil and Gas Assets for approximately NZ$115 million.