January 22, 2018 / 11:09 PM / a month ago

CORRECTED-Oil Search Q4 revenue jumps on strong PNG LNG output, rising prices

(Corrects to say Q4 revenue rose 12.6 pct, not 17 pct)

Jan 23 (Reuters) - Papua New Guinea-focused Oil Search Ltd reported a 12.6 percent rise in fourth-quarter revenue on Tuesday, supported by strong output from the PNG LNG (liquefied natural gas) project and improving oil prices.

Revenue for the three months ended Dec. 31 rose to $389 million from $345.6 million in the year-ago quarter, in line with analysts’ estimate of $390 million, according to Thomson Reuters I/B/E/S.

The company said it expects 2018 full-year production to be in the range of 28.5 million to 30.5 million barrels of oil equivalent (mmboe), while 2017 production was 30.31 mmboe. (Reporting by Chandini Monnappa in Bengaluru; editing by Richard Pullin)

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