Santos today announced that Oil Search non-executive directors Eileen Doyle, Michael Utsler and Musje Werror will join the Santos Board as independent non-executive directors. Dr Doyle’s career spans the building materials, infrastructure, industrials and logistics sectors, including senior operational roles at BHP Group Limited and CSR Limited and culminating in her appointment as CEO of…
Santos notes the announcement from Moody’s Investors Service (Moody’s) assigning Santos a Baa3 credit rating with stable outlook. The investment grade rating from Moody’s adds to Santos’ existing investment grade ratings from Fitch Ratings and S&P Global Ratings. Moody’s noted Santos’ investment grade credit profile is supported by the improved size and scale of its…
Santos today announced Anthea McKinnell will become Chief Financial Officer from 1 January 2022, replacing Anthony Neilson who has held the role since December 2016. Mr Neilson will stay with the company as Chief Commercial Officer initially based in Sydney, where he will play a key role in overseeing the transition of the Oil Search…
In accordance with Listing Rule 3.15.1, please be advised that the registry management services relating to Santos Limited are to be transferred from BoardRoom Pty Limited to: To: Computershare Investor Services Pty Limited Level 3, 60 Carrington Street Sydney NSW 2000 GPO PO Box 2975 Melbourne VIC 3001 Telephone: 1300 096 259 International: +61 3…
Santos is pleased to announce that it has listed today on the official list of the PNGX, Papua New Guinea’s National Stock Exchange, following approval by the Board of PNGX of Santos’ listing application as an exempt foreign entity. The listing of Santos’ shares on PNGX relates to Santos’ merger with Oil Search Limited (Oil…
Santos today announced it had received the necessary clearance from the Independent Consumer and Competition Commission (ICCC) of Papua New Guinea in order to implement the proposed merger with Oil Search. The condition set out in clause 3.1(e) of the Merger Implementation Deed released to ASX on 10 September 2021 has now been satisfied. The…
Santos today announced it had received the necessary Approval Letter and Exemption Notice from the Securities Commission of Papua New Guinea in order to implement the proposed merger with Oil Search.
The condition set out in clause 3.1(d) of the Merger Implementation Deed released to ASX on 10 September 2021 has now been satisfied.
Record sales revenue and record free cash flow Strong base business performance and improved commodity prices delivered record quarterly sales revenue of US$1.14 billion, up 6%, and record quarterly free cash flow of US$359 million, up 33% Gross Bayu-Undan production was higher in the quarter due to the successful start-up of the first well in…
Santos welcomes the judicial review decision of the NSW Land and Environment Court on the Narrabri Gas Project, upholding the decision of the NSW Independent Planning Commission. Santos now looks forward to getting on with our work in regional New South Wales to create jobs, drive investment and bring long term energy security to the…
Santos, as operator of the Bayu-Undan Joint Venture, today announced the Phase 3C infill drilling program has commenced at the Bayu-Undan field, in Timor-Leste offshore waters. The program, given a Final Investment Decision in January this year, comprises of three production wells and will develop additional natural gas and liquids reserves, extending field life as…
Santos welcomes the Federal Government’s release of the interim National Gas Infrastructure Plan. Santos Chief Executive Officer and Managing Director Kevin Gallagher said the Plan is based on an open, competitive market approach and encourages investment in new local supply and infrastructure, which is the best way to put downward pressure on east coast domestic…
Santos welcomes both the Federal and South Australian Governments’ focus on carbon capture and storage (CCS), and hydrogen technologies to put Australia at the forefront of the global energy transformation that is rapidly occurring. This will create jobs and cut emissions. Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos is extremely well-placed…
Australian natural gas company Santos will donate $250,000 to Red Cross Timor-Leste to support their emergency response to the devastating floods. Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos is part of the local Timor-Leste community and this donation would help with the immediate response effort to get people to safety, into…
Santos today announced it had signed a binding long-term LNG Supply and Purchase Agreement (SPA) with Diamond Gas International Pte Ltd (DGI), a wholly-owned subsidiary of Mitsubishi Corporation (Mitsubishi), for the supply of LNG from the Barossa project. The long-term SPA is a contractual commitment for the supply and purchase of 1.5 million tonnes per…
Santos today upgraded its 2020 production guidance to 87-89 million barrels of oil equivalent (mmboe) and lowered its production cost guidance to $8.00-8.50/boe. The upgrade in production guidance, from 83-88 mmboe, is due to strong operating performance across the base business and represents 15-18 per cent production growth for the year and more than 50…
Santos today announced it has executed documentation to enter into a new US$750 million syndicated bank loan facility. The facility was approximately three times oversubscribed, receiving strong support from a mix of existing and new relationship banks. The new five and a quarter-year facility will mature in January 2026, extending Santos’ weighted average term to…
Santos, Western Australia’s biggest domestic gas producer, today announced a new gas sales agreement to supply natural gas to Western Australian energy solutions provider, Kleenheat. Kleenheat is part of Wesfarmers Chemical, Energy and Fertilisers (WesCEF), a group of businesses that will also utilise the gas. Under the contract, Santos will supply more than 16 petajoules…
Record quarterly production and sales volumes Third quarter production of 25.1 mmboe was a record for Santos and 22% higher than the prior quarter Production was higher in all five core assets, primarily driven by higher domestic gas and LNG volumes Quarterly sales revenue of US$797 million was 2% higher than the prior quarter, demonstrating…
Santos has successfully injected approximately 100 tonnes of carbon dioxide deep underground into depleted gas reservoirs as part of the final field trial for the Moomba Carbon Capture and Storage (CCS) Project. Santos Managing Director and Chief Executive Officer Mr Gallagher said the successful injection occurred earlier this month in the Strzelecki field in the…
Santos welcomes the New South Wales Independent Planning Commission’s (IPC) decision to green light the Narrabri Gas Project with conditions and thanks the Narrabri community for its strong support over many years. Santos accepts the conditions proposed by the IPC and will now work with the Federal Department of Agriculture, Water and Environment as it…
The Federal Government’s announcement today to invest $1.9 billion to reduce carbon emissions paves the way for large-scale carbon capture and storage (CCS), which the International Energy Agency (IEA) and the Intergovernmental Panel on Climate Change (IPCC) have identified as a critical technology to achieve the world’s climate goals. “Despite the welcome growth in renewable…
Santos welcomes the Government’s announcements today to unlock new gas supply sources and improve the connectivity of the gas and electricity markets. Santos Managing Director and Chief Executive Officer Kevin Gallagher said the announcements recognise the crucial role that the natural gas industry will play in creating jobs as the Australian economy comes out of…
Santos reports 2020 half-year results Santos today reported first half free cash flow of US$431 million and underlying profit of US$212 million. The results reflect significantly lower oil prices compared to the previous first-half due to the impact of COVID-19 on global oil demand. The reported net loss after tax of US$289 million includes the…
Record quarterly and half-year production Second quarter production of 20.6 mmboe was a record for Santos and 15% higher than the prior quarter The strong production result was driven by higher domestic gas production in Western Australia, continued strong onshore production and a higher equity interest in Bayu-Undan following completion of the ConocoPhillips acquisition Quarterly…
Santos today announced it expects to recognise a non-cash impairment charge in the range of US$700-800 million before tax (US$490-560 million after tax) in the 2020 half-year results to be released on 20 August 2020. The impairment charge is due to revised oil price assumptions resulting from the effects of the COVID-19 pandemic on energy…
Thank you, Chairman, and Commissioners, for the opportunity to appear before you today. First, let me introduce myself. I’m Kevin Gallagher, the Managing Director and Chief Executive Officer of Santos. I joined Santos in 2016 after more than 25 years in the oil and gas industry, in Australia and around the world.…
Santos has commenced a concept study on a hydrogen future for the Cooper Basin. The concept study has been awarded to GHD, one of the world’s leading professional services firms in resources, energy and environment. Santos Managing Director and Chief Executive Officer Kevin Gallagher said that natural gas can be de-carbonised at its source to…
Santos has released its 2019 Modern Slavery Statement.
Santos, Western Australia’s biggest domestic gas supplier, is pleased to announce that it has entered into a new gas supply agreement with Gold Fields Limited for its three gold mines in Western Australia. Santos will supply nearly 5.5 petajoules of natural gas from its Varanus Island gas plant over three years, starting on 1 July…
Santos welcomes the release of the New South Wales Department of Planning’s final assessment report on the Narrabri Gas Project and its recommendation that the project is capable of approval with conditions. The report will now be considered by the New South Wales Independent Planning Commission (IPC) which has been asked by Planning Minister Stokes…
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