MELBOURNE, Jan 24 (Reuters) - Oil Search Ltd (OSH) reported a 12 percent rise in fourth quarter revenue, thanks to higher oil prices, and said it expected steady output in 2017.
Revenue rose to $345 million in the fourth quarter from $309.5 million in the third quarter, with production up 1 percent to 7.72 million barrels of oil equivalent(mmboe).
Annual revenue fell to $1.236 billion from $1.586 billion in 2015, just missing analysts' forecasts around $1.24 billion, according to Thomson Reuters I/B/E/S.
Oil Search said it expects production in 2017 to total between 28.5 mmboe and 30.5 mmboe versus 30.24 mmboe in 2016.
Production costs and depreciation and amortisation charges for 2016 were expected to be towards the lower end of previously advised guidance ranges of $8 - $10/barrel of oil equivalent and $13.50 - 14.50/boe, respectively, the company also said.
