Excluding one-time gains, Envestra may record a ``small loss'' for the year, compared with an earlier forecast of a ``modest'' profit, the Adelaide-based company said today in a statement to the Australian Stock Exchange.
Origin Energy sales revenue up 5%Energy utility Origin Energy has posted a five per cent rise in sales revenue in its third quarter to $118 million, with total production up six per cent to 20 petajoules of energy.
Origin said the higher production reflected its development program and contributions from coal-seam gas and the BassGas project, which more than offset declines in some traditional areas.
Year-to-date production is running nine per cent higher than the previous corresponding period. Sales volumes are 10 per cent higher and sales revenues are 11 per cent higher.
The BassGas project completed a 19-day shut down in late February/early March 2007 to resolve a production constraint due to plant amine and dehydration systems issues and to improve LPG extraction performance.
"At the end of the month sales gas production had been tested to close to design rates and LPG extraction achieved design levels," Origin said.
"New optimum operating conditions are being developed and the full outcome of the rectification program will be assessed during April-May 2007.
"Production during the month of April has been purposefully constrained and further work is being undertaken to optimise stable gas production on an ongoing basis."
Meanwhile, Origin's Kupe gas project in New Zealand remains on schedule for first gas in the first half of 2009.
At Origin's Otway gas project in Victoria, offshore activities are complete and the onshore plant is mechanically complete, with pre-commissioning activities underway.
"Gas will be introduced into the plant in early June and sales will follow once commissioning is complete," Origin said.
At 1454 AEST Origin's shares were up two cents at $9.00.
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