You are using an outdated browser. Please upgrade your browser to improve your experience.
Skip to content
Santos Supporting Australian Rugby FIND OUT MORE

2002 First Quarter Activities Report

This is a good start to the year. Sales revenue was $322 million, close to the 2001 first quarter. Higher oil production and sales largely offset the impact of sharply lower oil prices and a record cool summer.

Oil prices have moved higher over the last two months.

Sales volumes increased by 9% to 13.0 million barrels of oil equivalent (boe). Total production was also 13.0 million boe, 1.4% higher than the 2001 first quarter. Oil production was 17% higher.

The Norfolk-1 oil discovery in the Mutineer complex, in the Carnarvon Basin, was another first quarter highlight. Appraisal drilling of the complex is currently underway.

John Ellice-Flint
Managing Director

For further information, contact:

Graeme Bethune, General Manager Finance and Investor Relations on (08) 8218 5157 or 0419 828 617.

Santos stock symbols: STO (Australian Stock Exchange), STOSY (NASDAQ ADR)

For a full copy of this report use the download feature below