InterOil gave few details of the ongoing negotiations, other than to say it will make an announcement on its selection for a partner by the end of the year.
US giant ExxonMobil is thought to be the front-runner to receive gas produced by InterOil in Papua New Guinea. ExxonMobil would use the gas as feedstock for a third train at its PNG liquefied natural gas project.
The parties agreed five months ago on major terms for a supply deal in which ExxonMobil would buy 4.6 trillion cubic feet of gas from InterOil’s Elk-Antelope field in Block PRL 15.
However, InterOil opened up talks with other potential partners after ExxonMobil's period of exclusivity ended. InterOil is understood to also be in discussion with Anglo-Dutch supermajor Shell and France's Total.
ExxonMobil has insisted that it is still quite keen on building a third train at the LNG plant, and that it would be happy to use InterOil's gas. But neither company has provided much clarity on the status of a potential tie-up.
Meanwhile, unveiled a seismic data acquisition and drilling programme on its licenses in Papua New Guinea.
The work program consists of six wells - including at least one each on PPL 236, 237 and 238; two wells on PRL 15; and one well on PRL 39. The programme also includes seismic shoots in Triceratops east, south-west Antelope and at a new prospect, Bobcat.
The company has also contracted an additional rig to drill the Raptor-1 well alongside partner Pacific Rubiales. Spud date is expected in the first quarter next year.
InterOil posted a loss of $6.3 million in the three months to September, compared to a profit of $5.3 million for the same period in 2012.
The loss was due primarily to an $8.6 million increase in foreign exchange losses and a $7.6 million decrease in gross margin.
Total revenues decreased by $21.6 million to $305.2 million , mainly due to lower sales volumes during the quarter.
The upstream segment lost $16.2 million in the quarter due to "a decrease in gain on oil and gas properties due to the recognition of the sale of interest in PPL 237 to PRE in the prior year's comparable quarter, reduced revenue from civil works recovery and higher interest expense on inter-company loan balances".
