1997 Fourth Quarter Activities Report
Fourth Quarter Highlights
The following results were achieved compared with the 1996 fourth quarter:
- Production volume increased by 8.9% to 10.7 million boe
- Sales volume increased by 4.0% to 10.3 million boe
- Sales revenue decreased by 5.2% to $196.4 million
Full Year Highlights
Full year highlights compared with 1996 are summarised below. Each category represented a full year record for Santos.
- 6.8% increase in sales revenue to $778.5 million
- 7.8% increase in sales volume to 41.3 million boe
- 4.8% increase in production volume to 41.1 million boe
Comment by Mr Ross Adler, Managing Director:
The fourth quarter results contributed to making 1997 another record year for Santos in revenue, production and sales volumes.
During the year a 65% exploration success rate was achieved compared with a 57% success rate in 1996.