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| 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|
| INCOME STATEMENT1 | US$ 000 | US$ 000 | US$ 000 | US$ 000 | US$ 000 | US$ 000 | US$ 000 | US$ 000 | US$ 000 | US$ 000 |
| Revenue | 1,584,808 | 1,535,761 | 1,446,001 | 1,235,908 | 1,585,728 | 1,610,370 | 766,265 | 724,619 | 732,869 | 583,560 |
| Production costs | (348,742) | (290,027) | (262,813) | (257,104) | (294,818) | (235,380) | (126,442) | (112,042) | (93,919) | (87,770) |
| Other operating costs | (157,336) | (145,314) | (141,056) | (131,721) | (154,469) | (125,769) | (87,392) | (88,244) | (53,362) | (24,078) |
| Other income | 67,169 | 9,579 | 9,969 | 5,120 | 14,841 | 7,762 | 216 | 45,079 | 138 | 3,158 |
| EBITDAX2 | 1,145,899 | 1,109,999 | 1,052,101 | 852,203 | 1,151,282 | 1,256,983 | 552,647 | 569,412 | 585,726 | 474,870 |
| Depreciation and amortisation | (413,710) | (326,094) | (380,571) | (436,702) | (407,753) | (252,671) | (50,201) | (49,457) | (51,307) | (49,874) |
| Exploration costs expensed | (47,260) | (66,663) | (35,928) | (53,164) | (50,889) | (109,132) | (107,424) | (143,970) | (60,633) | (131,188) |
| Proposed InterOil acquisition | - | - | - | 18,694 | - | - | - | - | - | - |
| EBIT | 684,929 | 717,242 | 635,602 | 381,031 | 692,640 | 895,180 | 395,022 | 375,985 | 473,786 | 293,808 |
| Net finance (costs)/income | (230,961) | (209,850) | (194,728) | (195,999) | (185,114) | (129,595) | (15,152) | (4,557) | (658) | (826) |
| Share of net profit from investment in joint ventures | 627 | - | - | - | - | - | - | - | - | - |
| Net impairment (losses)/reversals | (5,865) | - | - | - | (399,271) | (180,593) | - | (23,793) | (33,227) | (15,808) |
| Profit before income tax | 448,730 | 507,392 | 440,874 | 185,032 | 108,255 | 584,992 | 379,870 | 347,635 | 439,901 | 277,174 |
| Income tax expense | (136,310) | (166,190) | (138,782) | (95,237) | (147,636) | (231,774) | (174,148) | (171,801) | (237,418) | (91,572) |
| Net profit after tax, significant items | 312,420 | 341,202 | 302,092 | 89,795 | (39,381) | 353,218 | 205,722 | 175,834 | 202,483 | 185,602 |
| Significant items | - | - | - | 16,906 | 399,271 | 180,593 | - | 22,796 | (33,227) | 41,488 |
| Net profit after tax, before significant items | 312,420 | 341,202 | 302,092 | 106,701 | 359,890 | 533,811 | 205,722 | 198,630 | 169,256 | 227,090 |
| Dividends paid | (205,746) | (114,273) | (99,014) | (76,135) | (274,085) | (60,308) | (53,532) | (53,143) | (52,663) | (52,087) |
| BALANCE SHEET | ||||||||||
| Total assets | 11,572,853 | 10,673,891 | 10,512,498 | 10,126,129 | 10,342,835 | 10,727,247 | 8,421,537 | 7,102,721 | 5,702,034 | 4,370,067 |
| Total cash | 396,232 | 600,557 | 1,015,246 | 862,748 | 910,479 | 960,166 | 209,661 | 488,274 | 1,047,463 | 1,263,589 |
| Total debt3 | 3,794,582 | 3,424,774 | 3,758,906 | 4,074,781 | 4,302,650 | 4,421,065 | 4,024,421 | 2,866,050 | 1,747,567 | 929,720 |
| Shareholders' equity | 5,258,411 | 5,165,618 | 4,937,754 | 4,725,316 | 4,709,362 | 5,025,476 | 3,421,052 | 3,208,346 | 3,017,232 | 2,798,467 |
| OTHER INFORMATION | ||||||||||
| Average realised oil and condensate price (US$/bbl) | 62.86 | 70.65 | 55.68 | 45.04 | 51.36 | 99.79 | 110.73 | 113.97 | 116.09 | 80.19 |
| Average realised LNG and gas price (US$/mmBtu) | 9.58 | 10.06 | 7.67 | 6.36 | 9.44 | 13.94 | - | - | - | - |
| Net annual oil and condensate production (mmbbl) | 4.83 | 5.03 | 7.56 | 8.58 | 8.89 | 7.93 | 5.82 | 5.50 | 5.76 | 6.77 |
| Net annual gas produced for sale (bcf) | 117.92 | 102.90 | 116.04 | 110.46 | 103.84 | 57.87 | 5.51 | 5.27 | 5.56 | 5.35 |
| Total BOE net annual production (mmboe) | 27.95 | 25.2 | 30.3 | 30.24 | 29.25 | 19.27 | 6.74 | 6.38 | 6.69 | 7.66 |
| Exploration and evaluation expenditure incurred (US$’000) | 700,010 | 714,796 | 169,544 | 151,761 | 275,699 | 1,246,939 | 293,985 | 240,615 | 144,606 | 175,980 |
| Assets in development expenditure incurred (US$’000) | 45,039 | 36,797 | 30,102 | 9,611 | 135,211 | 502,566 | 1,214,615 | 1,492,529 | 1,286,542 | 1,139,058 |
| Producing assets expenditure incurred (US$’000) | 81,108 | 21,723 | 40,654 | 38,250 | 111,830 | 105,677 | 152,600 | 111,498 | 129,396 | 41,850 |
| Operating cash flow (US$‘000) | 752,354 | 854,632 | 843,585 | 555,116 | 952,739 | 992,304 | 366,804 | 196,226 | 386,193 | 346,675 |
| Operating cash flow per ordinary share (US cents) | 49.34 | 56.10 | 55.40 | 36.46 | 62.57 | 65.16 | 27.39 | 14.75 | 29.3 | 26.5 |
| Diluted EPS (after significant items) (US cents) | 20.4 | 22.3 | 19.8 | 5.9 | (2.6) | 23.8 | 15.3 | 13.2 | 15.3 | 14.1 |
| Basic EPS (before significant items) (US cents) | 20.5 | 22.4 | 19.8 | 7.0 | (2.6) | 32.6 | 15.4 | 11.5 | 17.9 | 11.0 |
| Ordinary dividend per share (US cents) | 9.5 | 10.5 | 9.5 | 3.5 | 10.0 | 10.0 | 4.0 | 4.0 | 4.0 | 4.0 |
| Special dividend per share (US cents) | - | - | - | - | - | 4.0 | - | - | - | - |
| Gearing (%)4 | 36.0% | 35.3% | 37.0% | 40.5% | 41.9% | 40.8% | 52.7% | 42.6% | 18.8% | - |
| Return on average shareholders' funds (%) | 8.6% | 10.0% | 9.1% | 3.9% | 2.2% | 8.4% | 6.2% | 5.6% | 7.0% | 6.9% |
| Number of ordinary fully paid shares (000's) | 1,524,747 | 1,523,631 | 1,523,631 | 1,522,693 | 1,522,693 | 1,522,693 | 1,343,361 | 1,334,757 | 1,325,155 | 1,312,888 |
| EXCHANGE RATE | ||||||||||
| Year end A$ : US$ | 0.701 | 0.705 | 0.779 | 0.724 | 0.731 | 0.820 | 0.895 | 1.038 | 1.016 | 1.016 |
| Average A$ : US$ | 0.695 | 0.748 | 0.767 | 0.744 | 0.753 | 0.903 | 0.969 | 1.037 | 1.032 | 0.919 |
| SOCIAL RESPONSIBILITY | ||||||||||
| Total paid to PNG Government (US$’000) | 68,672 | 114,714 | 62,728 | 68,279 | 97,843 | 239,606 | 234,371 | 300,229 | 260,497 | 183,051 |
| Total invested in sustainable development (US$‘000) | 35,407 | 66,017 | 14,974 | 13,934 | 9591 | 7807 | 8170 | 6582 | 6303 | 3200 |
| Total Recordable Injury Rate (per million hours worked) | 1.70 | 1.58 | 1.93 | 1.53 | 1.91 | 1.97 | 2.47 | 2.64 | 1.85 | 1.96 |
| Number of significant spills (>100 bbl) | - | - | - | - | - | - | - | - | - | - |
| Total greenhouse gas emissions ((ktCO2-e ) | 598 | 570 | 962 | 941 | 958 | 830 | 898 | 918 | 1021 | 1105 |
| Greenhouse gas emmisions intensity (ktCO2-e /mmboe)5 | 45 | 44 | 50 | 46 | 48 | 55 | 73 | 80 | 85 | 78 |
| Total number of employees | 1,607 | 1,410 | 1,286 | 1,206 | 1,334 | 1,701 | 1,515 | 1,200 | 1,124 | 1,041 |
| % Females in senior management (%)6 | 25 | 23 | 22 | 21 | 18 | 15 | 14 | 13 | 10 | 6 |
| % PNG nationals in senior management (%) | 16 | 20 | 23 | 23 | 21 | 16 | 21 | 22 | 23 | 23 |
(1) Prior year comparatives have been restated where necessary, in order to achieve consistency with current year disclosures.
(2) Earnings before interest, tax, depreciation and amortisation, impairment and exploration.
(3) Total debt includes lease liability.
(4) Net debt / (net debt and shareholders’ funds). Net debt excludes lease liability presented as "Borrowings" in the Statement of Financial Position
(5) Intensity is calculated by dividing total GHG (scope 1 and 2) emissions by gross total production. Gross production is based on operational control (eg. total usable hydrocarbon production from Oil Search controlled operations only, as compared to equity based production figures).
(6) Includes all senior managers, technical experts and executives.