OPERATIONS

Low gas prices, field decline affect Petsec

NATURAL field decline and the rise of shale gas in the US have taken their toll on gas-focused Petsec Energy, with the company reporting a drop in third-quarter revenue and production.

Marija Stojkovic

Low gas prices, field decline affect Petsec

Production for the September quarter of 762 million cubic feet of gas equivalent was 8% lower than the previous quarter due to natural field decline. Revenue for the period was also down, dropping 10%...

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