Santos announces that it has executed a conditional sale and purchase agreement to divest its 42.86% operated interest in the Mahalo Joint Venture, in Queensland’s Bowen Basin, to Comet Ridge Limited, delivering A$40m in upfront consideration and up to A$20m in contingent payments linked to production milestones. Santos has also recently completed the divestment to…
Santos today announces that the PNG LNG Joint Venture (Santos 39.9 per cent interest) has accelerated the final repayment under the PNG LNG project finance facility, bringing the facility to a close. The debt facility is now fully repaid and the associated loan security is in the process of being discharged and released. This has…
Santos today announced it has conducted a debt offering and successfully priced a US$1 billion senior unsecured fixed rate bond transaction in the US dollar Rule 144A/Reg S market. The bonds will be issued by Santos Finance Limited, a wholly owned subsidiary of Santos Limited. The bonds will be guaranteed by Santos Limited. Proceeds are…
Santos’ Moomba Carbon Capture and Storage (CCS) project has achieved a major milestone for emissions reduction technology in Australia after receiving the single largest issuance of Australian Carbon Credit Units (ACCUs) from the Clean Energy Regulator (CER). The CER confirmed the issuance of 614,133 ACCUs to Santos under the approved CCS method, covering the Moomba…
Strong financial and operational performance Free cash flow from operations of ~$300 million, delivering year-to-date free cash flow from operations of ~$1.4 billion. Production of 21.3 mmboe, bringing total year-to-date production to 65.4 mmboe. Sales volumes of 21.5 mmboe, with year-to-date sales one per cent higher than the prior year. Sales revenue of $1.1 billion,…
Santos today announces the resignation of Ms Sherry Duhe as Chief Financial Officer and the appointment of Mr Lachlan Harris as Acting Chief Financial Officer. Santos Managing Director and Chief Executive Officer Kevin Gallagher thanked Ms Duhe for her service, saying “Sherry has made a significant contribution in her time at Santos, leading the structural…
The community of Narrabri is poised for a boom in visitor numbers and economic activity as the Santos Festival of Rugby arrives in the regional centre this weekend. Santos is proud to stage its fifth Festival of Rugby which has become a fixture on the national and regional Rugby calendars. The centrepiece of the Festival…
Santos Limited (ASX: STO) (Santos) refers to the non-binding, indicative proposal (Indicative Proposal) announced on 16 June 2025 from a consortium led by XRG P.J.S.C., a subsidiary of Abu Dhabi National Oil Company and including Abu Dhabi Development Holding Company and Carlyle (the XRG Consortium), to acquire 100% of the issued shares of Santos via…
The Tiwi Island Rangers program, administered by Tiwi Resources and dedicated to land management and ecological research, is set to expand its operations and take on more staff through a multi-million-dollar commitment from the Barossa Aboriginal Future Fund (BAFF). The Barossa Aboriginal Future Fund has been established by the Barossa joint venture partners Santos, SK…
Santos today announces it has executed documentation to refinance its 2025 maturing syndicated bank loan facility. The facility, previously for US$250 million, has been increased to US$850 million. The facility represents a fully-revolving loan maturing in January 2030, refinancing the previous facility that had a maturity date of August 2025. The loan bears a floating…
Santos today announces the retirement of Ms Anthea McKinnell as Chief Financial Officer and the appointment of Ms Sherry Duhe to the role. Santos Managing Director and Chief Executive Officer Kevin Gallagher paid tribute to Ms McKinnell, saying “Anthea joined Santos more than five years ago and has steered the finance function through a period…
Santos today announced the signing of a mid-term LNG supply contract with Glencore Singapore Pte Ltd (Glencore). The contract is to supply 19 LNG cargoes, or up to approximately 0.5 million tonnes of LNG per annum over a period of 3 years plus one quarter. The contract will commence in Q4 2025 with LNG being supplied…
Strong cash flow from operations, record half-year dividend, strong project delivery Summary Strong free cash flow from operations[1] US$1.1 billion (down 5%) Record interim dividend of US$422 million (49% increase). US13 cents per share unfranked Stable production of 44 million barrels of oil equivalent (down 2%) Robust sales revenue of US$2.7 billion (down 9%) Strong…
Strong free cash flow generation and significant progress on major projects Strong realised prices support robust free cash flow Free cash flow from operations for the half-year expected to be ~US$1.06 billion, US$380 million for the second quarter. Sales revenue of US$1.3 billion in the second quarter, consistent with the comparative prior year period. Production…
Santos notes the Federal Court’s decision today in proceedings by the Australian Energy Regulator related to Santos’ historical record keeping practices. The court found: The contraventions were inadvertent and not deliberate. The parties agree that there was no actual loss or damage caused as a result of the admitted contraventions. The parties agree that Santos…
Managing Director & CEO Kevin Gallagher’s presentation at the 2024 Macquarie Australia Conference held today.
Strong first quarter free cash flow generation and major project delivery Focus on operational excellence generates strong free cash flow Strong free cash flow from operations of US$692 million. Sales revenue of US$1.4 billion. Production of 21.8 mmboe despite severe weather events and planned maintenance activities. Bayu-Undan continuing to produce with gas being delivered into…
Santos Chair Mr Keith Spence and Managing Director & Chief Executive Officer Mr Kevin Gallagher have addressed the 2024 Santos Annual General Meeting held today.
2023 Full-year Results Video
Santos announces record cash dividend Summary Sales revenue of US$5.889 billion EBITDAX[1] of US$4.083 billion Underlying profit[1] of US$1.423 billion Final dividend of US17.5 cents per share unfranked (US$569 million) bringing total dividends declared for the year to US26.2 cents per share – a record cash return of US$852 million. Santos today announced its full-year…
Santos has today released its Sustainability and Climate Report 2023.
Santos today released its Annual Reserves and Resource Statement. Proved plus probable (2P) reserves are 1,661 million barrels of oil equivalent (mmboe) at the end of 2023 an increase of 8 mmboe before production. Key highlights: 2P reserves increased by 8 mmboe before production of 92 mmboe. 2P reserves replacement ratio (RRR) was 9 per cent,…
Santos refers to its 29 December 2023 announcement for the sale of 2.6 per cent of PNG LNG to Kumul Petroleum Holdings Limited (Kumul). Santos and Kumul have agreed an amendment to the Sale Agreement where Kumul has taken an effective interest in the Santos entity that holds the 2.6 per cent sale interest. Kumul…
Robust sales revenue, production and free cash flow Sales revenue of US$1.5 billion in the fourth quarter. Fourth quarter production of 23.4 mmboe was slightly higher than the prior quarter primarily due to increased sales gas production. FY production of 92.2 mmboe pre-PSC (91.7 mmboe post-PSC) is at the top end of full year guidance.…
Santos’ Executive Vice President – Eastern Australia and Papua New Guinea, Brett Darley, spoke at the Papua New Guinea Resources and Energy Investment Conference & Exhibition 2023 in Sydney today.
Santos notes the Federal Court of Australia has today granted an interim injunction to prevent Santos from commencing to lay the Barossa Gas Export Pipeline (GEP) until 13 November 2023. This decision is in connection with an application by Mr Simon Munkara seeking an order that Santos revise and resubmit the Environment Plan (EP) that…
Santos respects the cultural heritage of the Tiwi people and while we understand and respect there are a range of views about the Barossa gas project, we will vigorously defend Federal Court proceedings commenced by the Environmental Defenders Office on behalf of Mr Simon Munkara. The Environment Plan (EP) for the gas export pipeline installation…
Presentation to stakeholders in Alaska.
Santos today announced it has conducted a debt offering and successfully priced a US$850 million senior unsecured fixed rate bond transaction in the US dollar 144A/RegS market. The bonds will be issued by Santos Finance Limited, a wholly owned subsidiary of Santos Limited and guaranteed by Santos Limited. The proceeds are intended to be used…
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