Bayu Undan Gas Development to Proceed Following Signing of Heads of Agreement for LNG Sales Darwin LNG Pty Ltd an affiliate of Phillips Petroleum (91-12) Pty Ltd the Operator of the Bayu-Undan development project has signed a Heads of Agreement with Tokyo Electric Power Company, Incorporated and Tokyo Gas Co., Ltd that will enable the…
2001 Annual Report
Santos Limited today announced an after-taxprofit for the 2001 full year of $446 million or 73 cents per share, the second highest earnings in the Company’s history.
The strong result reflected close-to-record production of 55.7 million barrels of oil equivalent (boe) and a close-to-record realised Australian dollar oil price of $45.53 per barrel.
Second Highest Profit On Record Santos Limited (ASX: STO, NASDAQ: STOSY) today announced an after-tax profit for the 2001 full year of $446 million or 73 cents per share, the second highest earnings in the Company’s history. The strong result reflected close-to-record production of 55.7 million barrels of oil equivalent (boe) and a close-to-record realised…
Further to the release earlier today, Santos Ltd advises that the necessary rectification of Moomba Gas Plant process pipework has been completed and start-up procedures are underway. The Company is targeting supply of first gas tonight and resumption of regular supply of production to our customers at Moomba by midday tomorrow. Download This News Announcement…
Santos Ltd advises that yesterday an area of pipework at the Moomba Gas Plant was identified as requiring rectification on a priority basis. This has required gas supply to be significantly curtailed. Action is currently being taken to carry out the necessary rectification work. It is not yet possible to estimate with certainty how long…
The fourth quarter produced some pleasing results. Total production was 14.5 million barrels of oil equivalent (boe), 8% higher than the 2000 fourth quarter. Total sales volumes were 14.2 million boe, an increase of 5% (reflecting increased sales of gas and liquids). Total Quarterly sales revenue was $333m. This was a good result, given that…
Santos Limited today announced that the reserves review and reclassification, announced in March 2001, is effectively complete. As a result of the review Santos will, for the first time, be able to break its reserves into Proved, Probable and Possible categories and be able to measure Contingent Resources, in line with international reporting standards. Commenting,…
Santos Ltd. confirms that, as of 1 January 2002, the Group is not party to the new Heads of Agreement for the PNG Gas Project. Santos has been unable to reach agreement with the Project Operator, ExxonMobil on new commercial terms governing interaction between the participants, which are contained in the new Agreement. Santos Managing…
Phillips Petroleum (91-12) Pty Ltd, the Operator of the Bayu-Undan development project, and its co-venturers, including Santos, welcome the decision by the East Timor Council to endorse the agreement on a tax and fiscal package that will allow the Bayu-Undan participants to continue with their gas development efforts in the Timor Sea. A copy of…
Santos Ltd. announced today it had reached an agreement with the Northern Territory and Federal Governments (Joint Authority) on a resolution for Santos’ outstanding work program commitments on the NT/P52 exploration permit. As a result of this agreement, the Joint Authority has confirmed that Santos remains in good standing under the Petroleum (Submerged Lands) Act…
Santos Limited today announced that it has set the dividend rate for the issue of Preference Shares at 6.57% per annum, which will be fixed until 30 September 2006. As outlined in the prospectus dated 24 October 2001, the dividend rate has been set as the greater of 6.50% per annum, or the swap rate…
Santos Ltd. announces a new field discovery by Santos USA in the prolific Frio trend of South Texas, continuing Santos’ record of successes in the trend this year. Henderson-1, located in Willacy County, was drilled to a total depth of 15,355 feet. It encountered multiple pay horizons logging 169 feet of net gas pay. The…
Santos Ltd. (ASX: STO, NASDAQ: STOSY) announces a further step in repositioning the Santos Group’s North American efforts to focus on the onshore Texas Gulf Coast. Santos USA Corp, a wholly owned subsidiary, has acquired from a number of parties, the following interests for total consideration of US$28.5 million: an additional 33% working interest in…
The Runnells 7 appraisal well logged 35 metres (115 feet) of net Frio gas sand. The well, located in Matagorda County, Texas, is a continuation of the Grand Slam field delineation. Runnells 7 is currently at the original target depth of 4,450 metres (14,600 feet). The working interest owners have agreed to drill the well…
Santos Ltd, as Operator, on behalf of the PPL 118 and 119 Joint Ventures, announces the discovery of a new oil pool in the South Australian sector of the Cooper Basin. Production testing of the suspended gas well Kudrieke 2 (drilled in 1988) over the Tirrawarra sandstone produced 55 degree API oil through a test…
Santos Ltd, as Operator of the Sampang PSC, announces that the Oyong-3 appraisal well has penetrated a gross oil column of approximately 19 metres in good quality reservoir. Oyong-3 is located approximately 2 kilometres east of Oyong-1 on the eastern flank of the structure, in 41.3 metres of water. It reached a planned total depth…
On 17 October 2001, Santos Limited (“Santos”) announced its intention to undertake an off-market share buy-back of up to $250 million and to issue a minimum of $250 million, and up to $350 million, in Reset Convertible Preference Shares (“Preference Shares”). The issue of Preference Shares is subject to approval by Santos shareholders at an…
Third Quarter Highlights The third quarter was a solid one for the Company in terms of production, sales and exploration. Total production was 14.7 million barrels of oil equivalent, slightly below the 2000 third quarter. Sales revenue was $375 million, 4% below the 2000 third quarter reflecting a 2.4% drop in the realised oil price…
Santos Limited (“Santos”) today announced a major capital management initiative. This comprises an off-market share buy-back of up to $250 million and an issue of a minimum of $250 million in Reset Convertible Preference Shares (“Preference Shares”). Santos Chairman, Mr Stephen Gerlach said: “Ongoing capital management is an important component of the Company’s strategy announced…
Santos Ltd, as Operator for the South West Queensland Unit, announces the success of a new gas play in the Queensland sector of the Cooper/Eromanga Basins. The Wellington 1 gas exploration well in Southwest Queensland has been cased and suspended as a Toolachee Formation gas producer. Santos’ Managing Director Mr John Ellice-Flint said “The well…
Santos Quarter Billion Dollar Interim Profit Santos today announced a record half year profit for the six months ended 30 June 2001 of $251.5 million, a 21.5% increase on the 2000 first half result of $207.0 million. This result reflects record first half sales revenue. Earnings per share were 41.1 cents compared with 34.1 cents…
Santos Ltd has today finalised an agreement (subject to customary due diligence) with Strike Oil NL to farm-in to permit VIC/P44 in the offshore Otway Basin. The farm-in provides Santos with a 50% working interest in this permit and includes operatorship. Santos’ farm-in to this permit enhances the company’s position in the Otway Basin and…
Santos (Sampang) Pty Ltd, as Operator of the Sampang PSC offshore East Java, advises the results of the second of two drill stem tests conducted in the Oyong-1 well. From the interval 855 metres to 873 metres (18 metres) in the gas zone, the well flowed 351,175 cubic metres of gas per day (12.4 million…
Santos (Sampang) Pty Ltd, as Operator of the Sampang PSC offshore East Java, advises the results of the first of two drill stem tests to be conducted in the Oyong-1 well. Oyong-1 encountered a 110-metre gas column between 813 metres and 923 metres and a 35-metre oil column between 923 metres and 958 metres in…
Phillips Petroleum, the Operator of the Bayu-Undan development project, and its co-venturers, including Santos, have announced their decision to defer indefinitely an investment commitment in a subsea pipeline proposed to transport natural gas from the Bayu-Undan field to Darwin. A copy of the announcement by Phillips on behalf of the joint venture is attached. Commenting,…
Santos is pleased to announce the appointments of Mr Jacques Gouadain to the role of General Manager Exploration and Mr Frank L Jones to the position of General Manager Drilling. Mr Gouadain has nearly 40 years experience with oil and gas exploration around the world. He commenced his career as a field geologist with Aquitane…
Second Quarter Highlights The following results were achieved compared with the 2000 second quarter Sales revenue increased by 12% to a record $423 million. The oil price averaged A$51.06 (US$27.69) per barrel [2000: A$44.30 (US$26.52) per barrel]. Sales volumes were steady at 14.6 million barrels of oil equivalent (boe). Crude oil production was 17% above…
In September 2000 the South Australian Government announced an independent review of the Santos Limited (Regulation of Shareholdings) Act 1989. The Act restricts any one shareholder from having an entitlement to more than 15 per cent of the total number of voting shares in Santos Limited. The Government has informed Santos that it has considered…
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