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Oil Search Limited (ASX: OSH) Share Price and News

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Oil Search Limited (ASX: OSH) Latest News

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About Oil Search Limited (ASX: OSH)

Oil Search Limited (ASX:OSH) is an oil and gas producer based in Papua New Guinea (PNG). Established in 1929, for the first 40 years of its operations, Oil Search made only a few small gas discoveries in its home country. It wasn’t until major developments in transport and infrastructure during the 1960s provided greater access to the remote highlands that greater opportunities for oil discovery in PNG opened up.

Today, Oil Search operates all of PNG’s producing oil fields. It is also the largest company in PNG and its biggest investor, holding a 29% share of the ExxonMobil-operated PNG LNG Project. In 2018, Oil Search acquired and now operates a portfolio of oil leases in Alaska, United States. The company believes the leases have considerable upside potential and also bring greater diversification to its portfolio of assets.

According to Oil Search, the company continues to work closely with joint venture partners, governments and communities to execute its growth strategy and make meaningful contributions to the lives of Papua New Guineans.

Oil Search listed on the ASX in 1974. It is also listed on the PNG share market and its ADRs trade on the United States over-the-counter market.

The Oil Search share price was hit hard by the march 2020 market crash, falling from highs of over $7.70 in January to lows of under $2 in late March.