Oil Search Ltd. Company News

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ExxonMobil Reports Papua New Guinea Discovery
Latest PNG discovery confirms southeast extension of P'nyang field.
7:00 PM EST | January 15, 2018
Papua New Guinea Government To Sell Stake In Oil Search
The cash-strapped government of Papua New Guinea (PNG), looking to pay off nearly $1 billion in debt, is selling its stake in Oil Search.
8:00 PM EST | September 20, 2017
Oil Search Profit Soars, Focus On Advancing PNG Gas Projects
Oil Search expects its partners to agree by year-end on how to coordinate development of their Papua New Guinea gas projects.
8:00 PM EST | August 21, 2017
Oil Search Q3 Revenue Beats Forecasts
Papua New Guinea-focused Oil Search reports a 16% rise in 3Q revenue over the previous quarter, thanks to a rise in oil and gas prices and higher volumes.
8:00 PM EST | October 17, 2016
Exxon's Pacific Gas Partner Sees LNG 'Revolution' Among Buyers
Exxon Mobil Corp.'s partner in a $15 billion liquefied natural gas export project in Papua New Guinea sees Asian buyers pushing back on the pricing and structure of LNG contracts as a glut of supply gives them greater bargaining power.
8:00 PM EST | August 23, 2016
Oil Search Won't Counter Exxon Bid For Gas Explorer InterOil
Oil Search declines to submit a counteroffer for Papua New Guinea-focused gas explorer InterOil, leaving Exxon Mobil Corp. to wait and see if Total will challenge its bid alone.
8:00 PM EST | July 20, 2016
Total Seen Unlikely to Fight Exxon Mobil Over South Pacific Gas
Total SA is unlikely to challenge ExxonMobil in a bidding war for explorer InterOil Corp, the French firm's partner in a gas field in Papua New Guinea, analysts said on Wednesday.
8:00 PM EST | July 19, 2016
Even The Losers May Win As Exxon Outbids Partner For PNG Gas
Being outbid by Exxon Mobil Corp. for prized Papua New Guinea natural gas assets might actually be a good thing for Oil Search Ltd.
8:00 PM EST | July 18, 2016
Oil Search Says Exxon Makes 'Superior' Bid for PNG's InterOil
ExxonMobil offers superior bid for InterOil, according to Oil Search, which is also in the running for large natural gas reserves in Papua New Guinea and the possibility to export the fuel from the Pacific nation.
8:00 PM EST | July 17, 2016
Sources: Exxon Tops Oil Search's Bid For InterOil
ExxonMobil tables an offer to buy InterOil topping the $2.2 billion deal from Australia's Oil Search, according to people familiar with the matter.
8:00 PM EST | July 12, 2016
Repsol Plugs & Abandons Strickland 2 Prospect in PRL 269 in PNG
Oil Search plugs and abandons the Strickland 2 prospect in Petroleum Retention Lease (PRL) 269 in the Highlands of Papua New Guinea.
8:00 PM EST | July 06, 2016
Dozens Reported Wounded As PNG Police Fire On Protesters, Riots Spread
Dozens of people were wounded in Papua New Guinea after police opened fire on a student demonstration in the capital and riots erupted across the country, but officials say earlier reports of up to four dead are incorrect.
8:00 PM EST | June 07, 2016
Repsol Continues Drilling at Strickland 2 Prospect in PNG's Highlands
Repsol continues drilling activities at Strickland 2 exploration well in Petroleum Retention License 269 in Papua New Guinea's Highlands.
8:00 PM EST | June 02, 2016
Proxy Firm Backs Oil Search Takeover Of InterOil
A major proxy advisor has backed a $2.2 billion takeover of InterOil by Australia's Oil Search, and recommended InterOil shareholders reject an attempt by the firm's founder to oust the board at a meeting on June 14.
8:00 PM EST | May 30, 2016
PNG Watchdog: Oil Search, InterOil Should Seek Approvals For Merger
Papua New Guinea may challenge the $2.2 billion merger between Oil Search and InterOil if they fail to comply with anti-competition procedures, the country's corporate watchdog says.
8:00 PM EST | May 23, 2016
Oil Search Boost LNG Push In PNG With $2.2B InterOil Bid
Australia's Oil Search agrees a $2.2 billion deal to acquire InterOil in a move that could pave the way for two rival liquefied natural gas projects led by global majors to work together in Papua New Guinea.
8:00 PM EST | May 19, 2016
Planned Papua LNG Project May Create 10,000 Construction Jobs in 2018
Total is progressing work on the Papua LNG Project in PRL 15 in Papua New Guinea and construction is expected to commence in 2018, creating up to 10,000 jobs.
8:00 PM EST | May 15, 2016
Papua New Guinea LNG Projects See Opportunity In Tough Market
As LNG producers despair over a supply glut, two projects in Papua New Guinea are pressing on in a bid to sign off on new developments by 2018.
8:00 PM EST | April 18, 2016
InterOil Commences Test Flow at Antelope-5 Well in PNG's Gulf Province
InterOil commences flow test at Antelope-5 well in Petroleum Retention License 5 in the Gulf Province of Papua New Guinea.
7:00 PM EST | January 21, 2016
Australia's Beach Energy Appoints Oil Search's Matthew Kay as CEO
Australia's Beach Energy appoints Oil Search senior executive Matthew Kay as its new CEO.
7:00 PM EST | January 11, 2016
Total Spuds Antelope-6 Appraisal Well in PRL 15 in Papua New Guinea
Total spuds the Antelope-6 appraisal well in Petroleum Retention License 15 in the Gulf Province of Papua New Guinea.
7:00 PM EST | December 27, 2015
Woodside Abandons $8B Takeover Bid for Oil Search
Woodside abandons its $8 billion offer for PNG-focused Oil Search almost three months after the bid was rejected, dropping plans for what would have been the biggest energy takeover in Asia.
7:00 PM EST | December 07, 2015
InterOil Reports Positive Drilling Results at Antelope 4ST1 in PNG's PRL 15
InterOil reports that wireline logging from the Antelope-4 sidetrack-1 well in Petroleum Retention License 15 in Papua New Guinea confirms a high quality gas reservoir.
7:00 PM EST | November 18, 2015
Oil Search Updates on Drilling at Antelope 4ST1 Well in PNG's PRL 15
Oil Search updates on drilling at the Antelope 4ST1 well in Papua New Guinea's PRL 15, with the partners planning to proceed with a data acquisition program.
7:00 PM EST | November 04, 2015
Oil Search: PNG LNG to Run Well Above Design Capacity Through 2016
The Papua New Guinea Liquefied Natural Gas project is expected to run at least 6 percent above its name plate capacity through 2016, takeover target Oil Search says, highlighting the value of its prized asset.
8:00 PM EST | October 19, 2015
AFR: Woodside CEO Says Doesn't Want to Raise Bid for Oil Search
Woodside's chief executive says the company does not want to raise its $8.2 billion offer for Oil Search because it would hurt his shareholders, the Australian Financial Review reports.
8:00 PM EST | October 04, 2015
Petsec Energy Completes Acquisition of 29.75% Stake in Yemen's Block 7
Australia's Petsec Energy completes acquisition of a 29.75 percent stake in Yemen's onshore Block 7 in the Al Barqa permit from Mitsui and AWE.
8:00 PM EST | September 30, 2015
Oil Search Rejects Woodside's $8B Takeover Bid as Too Low
Oil Search rejects Woodside's $8 billion takeover bid, saying the proposal undervalues the company's liquefied natural gas expansion plans in Papua New Guinea.
8:00 PM EST | September 13, 2015
Woodside's $8 Billion Oil Search Bid Targets Lower Costs in PNG
With sliding energy prices threatening the viability of liquefied natural gas projects around the world, it doesn't seem like the greatest time to make an $8 billion bet on the fuel.
8:00 PM EST | September 08, 2015
Woodside Confirms Takeover Bid for Oil Search, Estimated at $8.1B
Woodside confirms takeover proposal for Papua New Guinea-focused Oil Search, estimated to be worth around $8.1 billion.
8:00 PM EST | September 07, 2015
Total Commences Drilling at Antelope-4 Sidetrack Well in PNG's PRL 15
Total commences drilling of a side-track well at the Antelope-4 site in PRL 15 in Papua New Guinea.
8:00 PM EST | August 31, 2015
Oil Search Eyeing Acquisitions in PNG
Oil Search Ltd is looking for acquisitions in Papua New Guinea, where it holds the bulk of its assets, but Managing Director Peter Botten says deals may take some time as buyer and seller expectations remain wide apart.
8:00 PM EST | August 24, 2015
InterOil to Drill Antelope 4 Sidetrack Well in PNG's PRL 15 Soon
Oil Search reveals that InterOil will be drilling the Antelope 4 well in Petroleum Retention License 15 in Papua New Guinea soon.
8:00 PM EST | August 03, 2015
PRL 15 JV Selects Key Infrastructure Sites for Elk-Antelope LNG Project
The PRL 15 Joint Venture selects key infrastructure sites for the Elk-Antelope gas field development in Papua New Guinea.
8:00 PM EST | July 02, 2015
Neptune Marine Services Clinches PNG Subsea Contract from Oil Search
Australia's Neptune Marine Services clinches a five year offshore diving and subsea inspection services contract by Oil Search in Papua New Guinea.
8:00 PM EST | May 04, 2015
InterOil Commences Flow Testing at PNG's Elk-Antelope Gas Field
InterOil commences flow testing at the Elk-Antelope gas field in Papua New Guinea as project partners hope to select a preferred development concept by mid-year.
8:00 PM EST | April 27, 2015
Petsec to Operate Yemen's Block 7 After Acquiring Oil Search's Local Unit
Petsec Energy takes over as operator of Block 7 in Yemen after increasing its stake in the permit through acquisition of Oil Search's Yemeni subsidiary.
8:00 PM EST | April 16, 2015
Total to Take Over as Operator of Papua New Guinea's PRL 15 JV
Total will take over as operator of petroleum retention license 15 in the Gulf Province, Papua New Guinea.
7:00 PM EST | March 01, 2015
ICC Arbitration Panel Declares Total a Party to PRL 15 JVOA in PNG
The International Chamber of Commerce arbitration panel declares Total a party to the Petroleum Retention License 15 Joint Venture Operating Agreement in Papua New Guinea.
7:00 PM EST | February 10, 2015
Oil Search To Cut Spending To Cope With Crash Of Crude Price
Oil Search, which tripled production in 2014, is now looking to cut spending in the wake of the near 60% drop in crude prices since June.
7:00 PM EST | January 28, 2015
PNG LNG Project Nears Financial Completion, Ends 120-Day Operational Test
Oil Search discloses that the PNG LNG Project has successfully completed the 120-day operational test, moving the development towards financial completion.
7:00 PM EST | January 19, 2015
Energy Minister: PNG Wants Total To Develop Disputed Gas Field
Papua New Guinea wants Total to lead construction of a new LNG export project drawing gas from a disputed field, the country's energy minister says.
8:00 PM EST | September 24, 2014
Development Drilling at PNG LNG Project's Hides Gas Field Nears Completion
ExxonMobil says development drilling at Hides gas field in the Papua New Guinea liquefied natural gas project nears completion.
8:00 PM EST | September 18, 2014
Kurdistan's Taza 2 Well Drilling Remains Suspended on Security Concerns
Oil Search reports that drilling at Taza 2 appraisal well in Kurdistan, Iraq remains suspended due to security situation in the region.
8:00 PM EST | August 27, 2014
Oil Search Half-Year Profit Tops Forecasts As PNG LNG Flows
Oil Search beat forecasts with a 34% rise in half-year profit, boosted by the start of exports from the PNG LNG project which is expected to quadruple the company's output in 2015.
8:00 PM EST | August 18, 2014
Oil Search to Conduct Testing Program at Taza-2 Well in Kurdistan
Oil Search plans to undertake a comprehensive testing program at Taza 2 well in Kurdistan, Iraq.
8:00 PM EST | August 06, 2014
Oil Search Observes Hydrocarbon Shows at Taza 2 Well in Kurdistan
Oil Search observes hydrocarbon shows at the Taza 2 well in Kurdistan, Iraq.
8:00 PM EST | July 10, 2014
Cape Clinches Contract for Work at Kumul Marine Terminal Offshore PNG
Cape clinches a contract from Oil Search for work at the Kumul Marine Terminal offshore Papua New Guinea.
8:00 PM EST | May 25, 2014
Oil Search Updates on Drilling at Taza-2 Well in Kurdistan
Oil Search provides an update on drilling at the Taza 2 well in Kurdistan, Iraq.
8:00 PM EST | April 24, 2014
Oil Search Fights Sale Of PNG Gas Field Stake To France's Total
Oil Search issues a notice of dispute to an InterOil entity pursuant to the Elk/Antelope PRL 15 joint venture agreement in Papua New Guinea.
8:00 PM EST | March 27, 2014