Business
Why the Oil Search (ASX:OSH) share price is surging higher today
The Oil Search Ltd (ASX: OSH) share price has rocketed higher in early trade as oil prices continue to soar.
Why is the Oil Search share price surging?
Oil Search is the largest oil and gas exploration and development company incorporated in Papua New Guinea.
According to the company’s FY20 interim result, Oil Search produced 14.7 million barrels of oil equivalent (mmboe) for the half year ended 30 June 2020.
That makes Oil Search one of the larger producers on the ASX alongside the likes of Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL).
2020 was a bitter pill to swallow for investors as the Oil Search share price plummeted more than 50% in the March bear market.
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