Strong Finish to 2018 Though our Oil Search AUD 6.60 FVE Is Unchanged.
We make no change to our AUD 6.60 per share fair value estimate, with weaker near-term oil prices substantially offset by time value of money considerations and a strong fourth quarter. Oil Search reported stronger than expected revenue, up 6% to USD 503 million thanks to inventory drawdown and a 5% increase in LNG price to USD 10.96 per mmBtu. Our 2018 EPS estimate consequently increases by 3% to AUD 0.32. But a softer spot crude price, down 20% to USD 62.50 per barrel since our October 2018 no...Oil Search is engaged in the exploration, development and production of oil and gas deposits in Papua New Guinea. This is carried out as both the operator of producing and exploration joint ventures and as a non-operator participant in exploration and production joint ventures. Co.'s properties include the Kutubu oil project, Central Moran oil project, Gobe oil project, Hides GTE project, SE Mananda field, and Nabrajah. Co. also has interests in seven concession areas in Yemen, three concession areas in Egypt, and one concession area in Libya. Co. maintains operations in Papua New Guinea, Yemen, Egypt, Libya, Iraq, Tunisia, and Australia.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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