Australia Origin Energy Q4 output up 16 pct

Published: 30 Jul 2009 16:55:55 PST

PERTH, July 31 - Origin Energy Ltd <ORG.AX>, Australia's second-largest power retailer, on Friday posted a 16 percent rise in fourth-quarter production and said its coal seam gas reserves have increased by as much as 50 percent.

Origin, which is in a partnership with U.S. ConocoPhillips <COP.N> for a gas export project, said total oil and gas production in the quarter ended June 30 was 25 petajoules equivalent (PJe), it said in a statement.

Revenue in the quarter was A$135 million ($111.4 million).

Origin, which did not give a full-year production forecast for the financial year, in June cut its full-year earnings guidance and said its underlying profit was expected to rise less than 20 percent, versus an earlier forecast of between 20-25 percent higher than a year ago. ($1=1.212 Australian Dollar)