Origin Energy Doubles Full-Year Revenue

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.

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Origin Redefines Position In Energy Market

Origin Energy ((ORG)) has completed a tranche of asset sales with the sale of the the Darling Downs pipeline to China/Singapore-owned pipeline network operator Jemena for $392m. Totalling around $1bn, net proceeds from asset sales have now exceeded the original target of $800m and are projected to reduce the company’s net debt to below $8.5bn by June 2017. This is ahead of further debt reductions once the company’s Lattice Energy assets are spun out.

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