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 Federal Government’s release of the carbon capture and storage (CCS) method for the Emissions Reduction Fund and will today commence the process to apply to register our Moomba CCS Project with the Clean Energy Regulator and generate Australian Carbon Credit Units (ACCUs). Santos’ A$210 million Moomba CCS Project will be one of…
Santos Managing Director and Chief Executive Officer, Kevin Gallagher addressed the Energy Club WA’s Networking Dinner on Tuesday, 7 September 2021.
2021 Half-year results video
Santos reports record half-year production and sales volumes, strong free cash flow and underlying earnings, and higher interim dividend Half-year (US$million)20212020Change Production (mmboe)47.338.523% Sales volume (mmboe)53.846.915% Product sales revenue2,0401,66822% EBITDAX[1]1,23199524% Underlying profit[1]31721250% Net profit/(loss) after tax354(289)222% Free cash flow[1]57243133% Interim dividend (UScps)5.52.1162% Santos today announced its half-year results for 2021, reporting record production of 47.3…
Following a transparent, independent and competitive process, Santos and its project partner Beach Energy, has been awarded a A$15 million grant from the Australian Government’s Carbon Capture Use and Storage Development Fund. The grant is recognition of the national and international significance of the ~A$210 million Moomba carbon capture and storage (CCS) project in outback…
Santos today announced that it has priced a US$1.0 billion 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 bonds have been priced at a fixed coupon of 3.649 per…
Strong base business generated US$302 million free cash flow in first quarter First quarter production of 24.8 mmboe was 39 per cent above the corresponding quarter in 2020 primarily due to the ConocoPhillips acquisition which completed in May 2020 Production was 2 per cent lower than the December quarter primarily due to lower domestic gas…
Santos Chairman Mr Keith Spence and Managing Director & CEO Mr Kevin Gallagher addresses to the 2021 Santos Annual General Meeting held today.
Following consultation with shareholders, Santos today announced it intends to provide shareholders with a non-binding advisory vote on the company’s Climate Change Report at the 2022 Annual General Meeting. Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos is a corporate leader in climate action, setting an ambitious and credible roadmap to net-zero…
Santos has been advised by ENN Group (ENN) that it has sold approximately 107.1 million shares representing a 5.14 per cent interest in Santos at $7.33 per share. The sale process was oversubscribed and received strong support from existing and new institutional shareholders. ENN has advised Santos that it remains fully supportive of Santos’ strategy…
2020 Full-year results video
Santos reports record annual production and sales volumes, and strong free cash flow and underlying earnings despite impact of COVID-19 and lower commodity prices Full-year (US$m)20202019Change Product sales revenue3,3874,033-16% EBITDAX [1]1,8982,457-23% Underlying profit [1]287719-60% Net (loss)/profit after tax(357)674-153% Free cash flow [1]7401,138-35% Final dividend (UScps)5.05.0- Santos today announced its full-year results for 2020, reporting record…
Santos today released its 2021 Climate Change Report.
In accordance with ASX Listing Rule 3.17A, Santos advises that it has received a notice seeking to requisition a resolution for consideration at the Annual General Meeting on 15 April 2021. The proposed resolution has been requisitioned by shareholders representing less than 0.01 per cent of the shares on issue in Santos Limited. The resolution…
Santos has today announced ambitious new emissions reduction targets that include: 2030: Reduce Scope 1 and 2 absolute emissions by 26-30 per cent on 2020 baseline 2030: Actively work with customers to reduce their Scope 1 and 2 emissions by >1mtCO2e per year by 2030 2040: Scope 1 and 2 absolute emissions net-zero. Santos Managing…
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 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…
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 welcomes the announcement today by Queensland Treasurer Cameron Dick to implement a new petroleum royalty model (the Volume Model) that guarantees Queenslanders will receive a fair return for the use of their non-renewable resources now and into the future. Santos and our partners in GLNG and southwest Queensland are continuing to invest nearly $2…
Santos today is pleased to announce it has completed the acquisition of ConocoPhillips’ northern Australia and Timor-Leste assets for a reduced purchase price of US$1.265 billion plus an increased contingent payment of US$200 million subject to a final investment decision (FID) on Barossa. Due to recent market volatility and the deferral of Barossa FID, Santos…
The release of the Technology Investment Roadmap discussion paper recognises the crucial role that natural gas and carbon capture and storage (CCS) will play in creating jobs as Australia rebounds from COVID-19 and strives for a lower carbon economy. Santos Managing Director and Chief Executive Officer Kevin Gallagher said the discussion paper builds on the…
Santos welcomes the release of the King review and the Morrison Government’s response as a key enabler for the development of an Australian carbon capture and storage (CCS) industry. CCS projects globally store around 40 million tonnes per year of carbon dioxide, far short of the more than two billion tonnes the International Energy…
Strong free cash flow and liquidity Strong operational performance delivered US$265 million of free cash flow in the first quarter Targeting 2020 free cash flow breakeven oil price of US$25 per barrel Liquidity of over US$3 billion at the end of the quarter, comprising US$1.15 billion in cash after payment of the 2019 final…
Further to the Annual General Meeting (AGM) update on 23 March 2020, Santos today confirmed that as a result of the closure of the Adelaide Oval, the AGM will be held and webcast live to shareholders from Santos’ offices at 100 St Georges Terrace, Perth WA 6000 at 10.00am Adelaide time on Friday 3 April…
Santos notes the announcement from S&P Global Ratings (S&P) reaffirming Santos’ BBB- credit rating with stable outlook. S&P noted Santos has a solid buffer to withstand current oil prices due to the strong balance sheet built up over the past two to three years. S&P also noted Santos has the financial capability to undertake the…
Santos today announced that due to continuing developments in relation to COVID-19, all resolutions at the Santos Limited Annual General Meeting (AGM) will be decided based on proxy votes. In light of the Australian Government’s ban on public gatherings of 100 or more people, Santos is not able to allow shareholders to physically attend the…
Santos today provided an update on the measures it is taking in response to COVID-19 and the current lower oil price environment. COVID-19 response Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos is committed to supporting government and community efforts to limit the spread of the virus, and supporting business continuity. “We…
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