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Origin sees output fall on CBM sale

Australia’s Origin Energy posted a 25% year-on-year fall in September quarter output to 25.4 petajoule equivalent after selling half of its coalbed methane assets to US ConocoPhillips.

The assets are now held by Australia Pacific LNG Pty Ltd (APLNG), a 50/50 joint venture with the US major.
 
"Coal seam gas development activity progressed well," Origin said in its third quarter production report released today.
 
Production attributable to APLNG was up 4% from the June quarter and up 28% from the same period last year.
 
However, coal seam gas production attributable to Origin was lower from a year ago due to the 50% dilution of its interest following the APLNG transaction, the Associated Press reported.

Wednesday 28 October, 2009
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