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…
The Santos Board of Directors has approved a flexible working arrangement for Santos Managing Director and CEO, Kevin Gallagher, to enable him to support a family member’s medical treatment through to the end of the year. Mr Gallagher will continue in the role of Managing Director and CEO, leading the Santos executive leadership team in…
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…
Santos reports robust first half free cash flow and earnings 1H 2023 Highlights Production of 45 million barrels of oil equivalent down 13% EBITDAX[1] $2,112 million down 23% Free cash flow from operations[1] US$1,129 million down 34% Underlying profit[1] US$801 million down 37% Statutory net profit after tax US$790 million down 32% Interim dividend of…
Robust sales revenue, production and free cash flow Sales revenue of US$1.3 billion in the second quarter Second quarter production of 22.8 mmboe was higher than the prior quarter primarily due to increased domestic gas volumes in Western Australia Successful start-up of Spartan project offshore Western Australia, supplying gas to the domestic market Bayu-Undan continuing…
Santos has released its 2022 Modern Slavery Statement.
Santos Managing Director & CEO, Kevin Gallagher addressed the APPEA Conference in Adelaide today.
Two of the most critical pieces of equipment, worth about AU$30 million, for Santos’ Moomba carbon capture and (CCS) project are making their way to site after arriving in South Australia last week. The imminent arrival in Moomba of the compressor and turbine follows the project recently marking the 60 per cent completion milestone, with…
Managing Director & CEO Kevin Gallagher’s presentation at the 2023 Macquarie Australia Conference held today.
Strong sales revenue and free cash flow Sales revenue of US$1.6 billion in the first quarter First quarter production of 22.2 mmboe was lower than the prior quarter primarily due to reduced domestic gas volumes in Western Australia supported by extended production from the Bayu-Undan field Free cash flow of around US$720 million in the…
Santos Chair Mr Keith Spence and Managing Director & Chief Executive Officer Mr Kevin Gallagher have addressed the 2023 Santos Annual General Meeting held today.
Santos has today released its Climate Change Report 2023.
2022 Full-year Results video
Santos reports record underlying earnings and higher shareholder returns Highlights Underlying profit[1] US$2,461 million, up 160% Reported net profit after tax US$2,112 million, up 221% EBITDAX[1] US$5,646 million, up 101% Free cash flow[1] US$3,641 million, up 142% Balance sheet strengthened with gearing reduced to 18.9 per cent Annual merger integration synergies US$122 million US$1,455 million…
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