Strong free cash flow from operations Free cash flow from operations for the first half ~$1.1 billion, $620 million for the second quarter. Increased production of 22.2 mmboe, up one per cent compared with the prior quarter. Sales volumes of 23.9 mmboe, up three per cent compared with the prior quarter. Unit production cost guidance…
Santos today announced the signing of a mid-term LNG supply contract with QatarEnergy Trading LLC (QET). The contract is to supply approximately 0.5 million tonnes of LNG per annum over a period of two years from 2026 with LNG being supplied from Santos’ portfolio of world-class LNG assets on a delivered ex-ship basis. Santos Managing…
Santos’ pioneering Moomba Carbon Capture and Storage (CCS) project has been recognised for its industry leading innovation and leadership in decarbonisation at the Energy Council’s annual APAC Awards in Singapore. Moomba CCS, a joint venture between Santos and Beach Energy, took home the Energy Technology Company of the Year award, which recognises ground breaking innovation…
Managing Director & CEO Kevin Gallagher’s presentation at the 2025 Macquarie Australia Conference held today.
Operational excellence supporting strong financial results Strong free cash flow from operations of ~US$465 million, up 9 per cent on the prior quarter, from sales revenue of US$1.3 billion. Increased production of 21.9 mmboe, up two per cent on the prior quarter driven by higher production from Western Australia. Sales volumes of 23.3 mmboe, down…
Today Santos held its 2025 Annual General Meeting. Santos announced that the 120-mile pipeline for our Pikka project is now substantially complete – one year early – with minor tie-in and punch-list works remaining. This creates the possibility for early startup of the project, depending on weather and logistics which will become clearer over the…
Santos will contribute $500,000 and mobilise people and equipment to support the flood relief effort in the Cooper Basin as southwest Queensland and northeast South Australian communities deal with a major flood event. The flood has already caused widespread damage across far western Queensland, with residents in South Australia now bracing for the floodwaters as…
Santos’ Moomba Carbon Capture and Storage project (Moomba CCS) in South Australia’s Cooper Basin started up in October 2024 and at year end had already stored 340,000 tonnes of CO2-equivalent (CO2e). At full injection rates Moomba CCS avoids more CO2 in four days than 10,000 electric vehicles save in one year[1]. And in just one…
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…
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.
Santos has secured finance for the company’s share of the US$220 million Moomba carbon capture and storage (CCS) project in South Australia. The facilities, with a five-year tenor and totalling US$150 million, will be used to cover project costs incurred to date and to draw down upon as the project progresses to first injection targeted…
Santos has signed a memorandum of understanding (MOU) with one of South Australia’s biggest commercial industrial gas users, Liberty Primary Metals Australia Pty Ltd (part of GFG Alliance), to enter into discussions for gas supply combined with carbon capture and storage (CCS) opportunities to support the green steel transformation of the Whyalla steelworks. Santos Managing…
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,…
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 has signed an agreement with Toho Gas, one of the largest gas utility companies in central Japan, to investigate the potential for producing carbon-neutral e-methane in South Australia’s Cooper Basin. The Santos-Toho Gas collaboration supports Santos Energy Solutions low-carbon fuels ambitions and could lead to the export of carbon-neutral e-methane, made by combining green…
Following the passage of legislation through the Australian parliament to facilitate the cross-border transfer of CO2, Santos is pleased to announce a new agreement with two major Japanese energy companies to collaborate on CCS. Santos’ plans to expand the Moomba carbon capture and storage (CCS) project and transform the Cooper Basin into a decarbonisation and…
Santos and its Cooper Basin joint venture partners will invest up to A$12 million over five years in partnership with Traditional Owners on a ranger program that will help them better care for their Country, create employment pathways and protect the environment. A part of the new deal, the Cooper Basin joint ventures (JV) will…
A vital skin check program rolled out to Santos workers and contractors in eastern Queensland has been credited with saving lives, including a Roma construction manager who was detected with potentially deadly melanomas during a routine check. Speaking during National Skin Cancer Action Week, Santos contractor Frank Radandt said without the Skin Patrol program implemented…
Santos will work with leading energy infrastructure business APA Group through a Memorandum of Understanding (MOU) to collaborate on the potential development of CO2 infrastructure throughout eastern Australia. The scope of the MOU is to assess potential decarbonisation opportunities by working jointly to link heavy CO2 emitters and/or CO2 import locations to the Santos-operated carbon…
Santos has strengthened its position as a regional carbon capture and storage (CCS) leader by entering into a strategic collaboration agreement with ADNOC, a progressive energy company based in Abu Dhabi. The agreement will explore the potential for establishing a platform offering decarbonisation services to a broad range of energy users and includes potential: Collaboration…
Santos today reaffirmed its strategy to deliver long-term shareholder value, provide reliable, affordable energy for customers and achieve net-zero emissions (scope 1 and 2, equity share) by 2040. Speaking at the company’s Investor Day in Sydney, Managing Director and Chief Executive Officer Kevin Gallagher said Santos’s purpose and strategy reflects the critical role of reliable,…
Santos continues to build momentum to deliver new energy solutions by partnering with Japan’s largest gas utility company, Tokyo Gas, to investigate the potential for producing carbon-neutral e-methane in Australia. E-methane is made by combining green hydrogen and CO2 obtained from carbon capture of industrial emissions or Direct Air Capture (DAC) technology. The advantage of…
Santos and joint venture partner Beach Energy have secured significant additional carbon storage acreage after being awarded a Gas Storage Retention Licence west southwest of Moomba. The Licence was awarded under the South Australian Petroleum and Geothermal Energy Act by the SA Department for Energy and Mining. Under the Licence, the joint venture is authorised…
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