• Origin Energy Limited
• Website: www.originenergy.com.au

Industry:

Oil, Gas & Consumable Fuels

Fiscal Year-End:

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Origin Energy (ORG) is a conservatively managed energy group with an established portfolio of operating businesses in energy generation, as well as a mix of alternative energy reserves and projects, including large Coal-Seam-Gas reserves, LNG development, and renewable energy. It was listed in February 2000 following the demerger of Boral Group's energy businesses. Origin is a vertically integrated and its operations include: exploration and production; power generation; energy retailing and trading.

The group was formed from the de-merger of Boral Ltd, which split into two separate companies (building materials and integrated energy). ORG listed on the ASX in February 2000. It acquired the Powercor electricity customer base for $315M in mid-2001. The group expanded via its acquisition of the CitiPower retail electricity business for $137M in 2002. ORG is expanding coal seam gas production via 100%-owned Oil Company of Australia (OCA), together with the development of Otway Basin reserves.

ORG operates in upstream oil and gas exploration, development and extraction; energy retailing (gas and electricity following the Powercor and CitiPower acquisitions), electricity generation (providing some self-hedging ability) and has significant investments including 51.4% of Contact (New Zealand). Following the formation of APLNG with ConocoPhillips, ORG is looking to operate in LNG production with its proposed Gladstone facility.

ORG is the original vertically integrated major energy retailer, with ownership of significant oil and gas fields. AGL Energy has since been following suit. ORG has substantial gas resources (coal seam gas in QLD and Otway Basin gas in Victoria), strategically located close to major markets.

The group's major customers are its own retail customer base (gas-dominated in SA and electricity-dominated in Victoria), while liquid hydrocarbons are sold on the international market. Caltex takes most of ORG's LPG production. Electricity is principally sold into the wholesale pool market. Major competitors in electricity are AGL, APK and Ergon. In oil and gas competitors include BHP, WPL, STO and AWE. Future LNG competitors would include BG Group, Shell, LNG Ltd, STO, QGC and AOE.