Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
29 July 2016resource reserve update● NeutralMajor
Origin's 2P reserves rose 17 PJe to 6,277 PJe at 30 June 2016. Gains in Waitsia (+216 PJe) and Kupe (+71 PJe) were offset by 102 PJe of downgrades in Cooper, Otway and Bass, after 231 PJe of production. APLNG 2P fell to 5,073 PJe.
25 July 2016drilling spud● Neutral
Origin, as operator with 35%, spudded Beetaloo W-1 in EP117 on 22 July 2016, the fourth of five Stage 1 wells in the Northern Territory basin. Partners are Sasol 35% and Falcon 30%. No result yet.
6 July 2016drilling progress report▲ Good
Beach's June Cooper report. Tirrawarra-92 and -91 (Origin 13.19%) were cased as future producers after gas and oil pay. In the Coolah campaign (Origin 16.74%), Dunadoo-1 and Coolah-3 found gas pay and were cased as future producers.
3 June 2016resource reserve update▲ GoodMajor
Partner AWE raised Waitsia gross 2P reserves 93% to 344 Bcf, and 2P plus 2C to 630 Bcf (previously 484 Bcf). Origin holds 50% of L1/L2. Stage 1A first gas of 10 TJ/d is on track for the September quarter, with two more appraisal wells planned for 2017.
1 June 2016drilling progress report▲ Good
Beach's May Cooper report. Tirrawarra-93 (Origin 13.19%) was cased as a future gas and oil producer. Durham Downs North-6 (Origin 16.74%) was cased as a producer, completing that campaign. Dunadoo-1 was spudded in the Coolah appraisal campaign (Origin 16.74%).
4 May 2016drilling progress report● Neutral
Beach's April Cooper report. Origin (13.19%) is in the new five-well Tirrawarra-Gooranie campaign, first well drilling. In the Queensland gas JV (Origin 16.74%), Durham Downs-9 was abandoned, while Durham Downs North-5 will be completed as a producer after a gas pay result.
2 Mar 2016drilling progress report● Neutral
Beach's February report on Cooper wells. Moomba-212 (Origin 13.19%) hit gas in line with estimates and was cased as a future producer, likely leading to more drilling nearby. Other wells are in permits where Origin holds no stated interest.
3 Feb 2016drilling progress report● Neutral
Beach's January report on Cooper wells. The six-well Moomba North campaign finished, with Moomba-207 and -208 (Origin 13.19%) finding gas broadly in line with estimates and all six cased as future producers. Other results are in Beach-operated permits, not Origin's.
13 Jan 2016drilling result● Neutral
Senex's Ethereal-1 (Origin 40%) reached 3,234m on 2 January, on prognosis and matching the zones in Efficient-1. It was cased and suspended for fracture stimulation and testing. Senex remains free-carried. Completes the two-well southern program; test results are awaited.
6 Jan 2016drilling progress report▲ Good
Beach's December report on Cooper wells where Origin is a non-operating partner. Whanto West-1 (Origin 16.74%) was the fifth new Windorah field discovery from five wells. Correa-3 beat estimates, and Moomba South's three wells were completed. Moomba North continues.
5 Jan 2016farm in farm out completion▲ GoodMajor
AWE and Origin (50/50) approved Stage 1A of Waitsia: Waitsia-1 and Senecio-3 tied to the Xyris facility, gross capex $17.5m, first gas August 2016. Alinta takes 10 TJ/day for 2.5 years. This moves Waitsia from appraisal toward production.
9 Dec 2015resource reserve update▲ GoodMajor
NZOG notes Genesis announced a 33% upgrade to Kupe reserves, after review by Gaffney Cline. Origin operates Kupe with 50%. It is broadly in line with NZOG's own 27 October upgrade. No volumes are given in this notice.
2 Dec 2015drilling progress report▲ Good
Beach's November report on Cooper wells with Origin as a non-operating partner. Gooranie-7 completed the six-well Tirrawarra campaign. Whanto East-1 (Origin 16.74%) found gas in line with estimates, the fourth Windorah field discovery. Whanto West-1 is drilling.
4 Nov 2015drilling result▲ Good
Senex's Efficient-1 (Origin 40%) reached 3,196m on 30 October with hydrocarbon shows in the target zone. It was cased and suspended for fracture stimulation and extended testing. A second well, Ethereal-1, is next; Senex remains free-carried.
4 Nov 2015drilling progress report▲ Good
Beach's October report on Cooper wells where Origin is a non-operating partner. Tirrawarra-87 hit gas and oil pay above estimates. Cougar East-1 (Origin 16.74%) found gas above estimates, the third new Windorah field discovery. Windorah-Marama pipelines are complete.
7 Oct 2015drilling progress report▲ Good
Beach's September report on Cooper Basin wells where Origin is a non-operating partner. Tirrawarra-86 and Jena-23 were cased as producers, Calamia East-1 found oil pay, and Whanto South West-1 (Origin 16.74%) was in line with pre-drill estimates and is a new field discovery.
7 Oct 2015drilling progress report● Neutral
Senex's September report: Spitfire-7 found 6.6m net oil pay, to come online November 2015. Senex will spud Efficient-1 in mid-October, the first well of its Cooper unconventional gas program with Origin (Origin 40%); four wells are planned in FY16, with Senex free-carried.
2 Sept 2015drilling progress report▲ Good
Beach's August drilling report covers Cooper Basin wells where Origin is a non-operating partner (10.54% to 16.74%). Tirrawarra-88, Hobbes-3, Beanbush-2, Bolah-2 and Whanto-4 were cased and suspended with gas or oil pay; Fulcrum-1 (no Origin interest listed) was abandoned. Beanbush-2 and Whanto-4 came in high-side.
21 Aug 2015resource reserve update▲ GoodMajor
Operator AWE lifted Waitsia gross 2P plus 2C gas from 290 to 484 Bcf after Waitsia-2, booking initial gross 2P of 178 Bcf and 2C of 306 Bcf. Origin holds 50% of L1/L2. Early development targets production by mid-2016.
5 Aug 2015drilling progress report● Neutral
Beach's July drilling report covers Cooper Basin wells where Origin is a non-operating partner (10.54% to 25%). Tirrawarra-85, Whanto-3 and Cocinero-3 were cased as future producers; Mt Howitt-3 DW1 had a low-side gas result and the final Mt Howitt-4 well was dropped.
31 July 2015resource reserve update▼ BadMajor
Origin's 2P reserves at 30 June 2015 fell 213 PJe to 6,260 PJe (66 PJe excluding production). Declines came from APLNG (52 PJe, lower oil price assumptions), BassGas (32 PJe after Yolla-5/-6 drilling), Geographe (27 PJe) and Cooper (15 PJe). New bookings: Speculant 49 PJe and Waitsia/Senecio 16 PJe. 1P rose to 2,763 PJe.
27 July 2015drilling result▲ Good
AWE says Waitsia-2 reached total depth of 3,530m, intersecting all target formations, with elevated gas shows in the Kingia and High Cliff Sandstones. Logging is next; no flow rate or volumes yet. Origin holds 50%; a flow test is possible if results are positive.
20 July 2015drilling progress report● Neutral
AWE says Waitsia-2 was at 3,152m, with 9 5/8 inch casing set at 2,817m and coring of the Kingia Sandstone about to start. Origin holds 50%. No gas results yet.
20 July 2015resource reserve update▼ BadMajor
AWE, citing Origin as BassGas operator, cut its Yolla 2P reserves by 5.5 mmboe to 13 mmboe after Yolla-5 and -6 data lowered estimated gas in place; further work is needed to validate. AWE expects a $100-110m after-tax impairment. Origin (42.5%) has not yet said its own figure.
15 July 2015drilling spud● NeutralMajor
Origin, as operator, spudded Kalala S-1 on 14 July, the first of three Beetaloo Basin wells in NT permit EP98 (Origin 35%, Sasol 35%, Falcon 30%). It targets the Middle Velkerri formation to about 2,800m, following the 2014 farm-in.
13 July 2015drilling progress report● Neutral
AWE says Waitsia-2, spudded 28 June, was at 2,802m and drilling ahead, planned to 3,803m over about seven weeks. It tests the southern part of the Waitsia field (Origin 50%). A flow test is possible; no fracture stimulation.
3 July 2015drilling result▲ Good
Origin, as BassGas operator (42.5%), says Yolla-5 reached total depth of 3,384m. It has been logged and cased, and will be completed and brought into production with Yolla-6. Completes the drilling stage of the Mid Life Enhancement; no production rate yet.
3 July 2015drilling result▲ Good
AWE's note on Yolla-5 says it intersected the primary EVCM sand targets, with good continuity with Yolla-6. It will be cased and completed before tie-in. Largely repeats Origin's release with added reservoir detail.
1 July 2015drilling progress report● Neutral
Beach's June report: Swan Lake-14 and -15 and Tirrawarra-84 were cased as future producers in the SACB JV (Origin 13.19%), though Swan Lake-14 showed low-side pay. Whanto-3 reached TD and Mt Howitt-3 was side-tracked in Queensland (Origin 16.74%). Routine non-operated activity.
16 June 2015drilling result▲ GoodMajor
AWE reports Waitsia-1 confirmed a 95m gross gas column across three reservoirs, with 18m net conventional pay, supporting the 290 Bcf gross 2C estimate (Origin 50%) and pointing to upside. Early production from Waitsia-1 and Senecio-3 is targeted by mid-2016.
