The Origin Energy Ltd (ASX: ORG) share price was up 4% to $7.68 yesterday after the electricity retailer and LNG producer reconfirmed profit guidance for fiscal 2019 at a conference hosted by Macquarie Group Ltd (ASX: MQG).
For its energy markets operating division Origin expects underlying EBITDA (operating income) to come in between $1.5 billion to $1.6 billion, with the second half expected of the financial year to down on the first half.
Its Australia Pacific LNG project operated in conjunction with ConocoPhillips and others is expected to produce 665 to 685 PJs of LNG at a distribution breakeven cost between US$39 to US$42 per barrel of oil equivalent over the financial year.
Origin shares are now up more than 20% in 2019 in line with the rising oil price, although are still well short of their 52-week high of $10.27.
