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Oil Search Ltd Full Year Report - Soft Result

Stuart Lucy

Stuart Lucy is an Investment Specialist at the Australian Stock Report, and has gained exposure to funds management and investment banking throughout his career. He draws on this experience to provide macroeconomic commentary and actionable investment insights to clients. Stuart is responsible for writing reports, is involved in delivering Macrovue webinars and provides general advice to our members on portfolio construction. Stuart currently holds RG146 General and Securities qualifications.

Oil search Ltd (ASX: OSH) is an oil and gas exploration and development company. Oil Search operates oil and gas fields Papua New Guinea (PNG) and has a 29 per cent interest in the ExxonMobil-operated PNG LNG project. Oil Search also has interests in the United States. Oil Search has a market capitalisation of A$9.38 billion.

osh limited

What are the key features of Oil Search full year results?

Oil Search net profit after tax (NPAT) for FY19 is US$312.4 million, down 8% on FY18 (FY18: US$341.2 million). Total revenue for FY19 is US$1,584.8 million, up 3% pm FY18 (FY18: US$1,535.8 million). Total production (mmboe) for FY19 is 27.9, up 11% on FY18 (FY18: 25.2). Total sales (mmboe) for FY19 is 27.8, up 11% on FY18 (FY18: 25.0). Total dividend of US9.5 cents per share, down 10% on FY18 (FY18: US10.5 cents per share).


What is the outlook for Oil Search?

Oil Search management note that total production (mmboe) guidance for FY20 is in the range of 27.5 – 29.5. Production cost guidance for FY20 (US$ per boe) is in the range of 11.00 – 12.00.


What is the market response?

The market reaction to Oil Search announcement is negative. Oil Search share price is down 2.5% and is currently trading at A$6.00. Oil Search is trading at a forward P/E ratio in the high-teens and has an annual dividend yield of around 2.5%.




This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)

(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).

This article is provided for informational purpose only and does not purport to contain all matters relevant to any particular investment or financial instrument. Any market commentary in this communication is not intended to constitute “research” as defined by applicable regulations. Whilst information published on or accessed via this website is believed to be reliable, as far as permitted by law, we make no representations as to its ongoing availability, accuracy or completeness. Any quotes or prices used herein are current at the time of preparation. This document and its contents are proprietary information and products of our firm and may not be reproduced or otherwise disseminated in whole or in part without our written consent unless required to by judicial or administrative proceeding. The ultimate decision to proceed with any transaction rests solely with you. We are not acting as your advisor in relation to any information contained herein. Any projections are estimates only and may not be realised in the future.

ASR has no position in any of the stocks mentioned.

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