What Happened to the Oil Search Share Price?
Oil Search Limited [ASX: OSH] is an exploration, developer and producer of oil and gas resources in Papua New Guinea.
OSH closed 1.20% higher on Friday.
Why Did This Happen to OSH Shares?
Yesterday Oil Search’s monthly report announced that the eighth production well G2 at Wellpad G has become a producer.
What Now for Oil Search Limited?
Oil Search’s share price has risen over 14% this year.
Forecasts for production are positive. Between 2013 and 2015, production is expected to quadruple. The production figure will double again by 2020–22.
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The share price is around $9.30, a little off the all-time high of $9.82 in June.
OSH shares are a little on the expensive side; however, it’s a solid oil and LNG stock.
Shae Smith+
Editor, Money Weekend
The post Why the Oil Search Price Rose Today appeared first on Stock Market News, Finance and Investments | Money Morning Australia.
