December 5, 2016 / 9:51 PM / 10 months ago

Australia's Origin Energy to spin off oil and gas assets in IPO

SYDNEY, Dec 6 (Reuters) - Australia’s Origin Energy will spin off its interests in conventional oil and gas fields, launching a new listed company in an initial public offering, the company said Tuesday.

The new entity “will be a mid-cap geographically diversified upstream exploration and production company,” Origin said in a statement.

The company will retain its energy markets businesses and its Australia Pacific LNG business, Origin said.

Reporting by Tom Westbrook; editing by John Stonestreet

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