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…
Santos today announced strong half-year results for 2025, comparable with the prior year. Free cash flow from operations remained strong at US$1.1 billion. Sales revenue was US$2.6 billion, EBITDAX was US$1.8 billion and underlying profit was US$508 million. Production volumes were 44.1 mmboe, also comparable with the prior year, and sales volumes were 47.2 mmboe.…
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…
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 today announced completion of the Angore project in PNG’s Hela Province, which will deliver up to 350 million standard cubic feet (mmscf) per day of gas to support stable, long-term PNG LNG production. Angore has performed strongly since the project was brought online. Completion of the Angore development unlocks a one trillion cubic feet…
Further to the announcements of 29 December 2023 and 1 February 2024, Santos is pleased to announce completion of the sale of a 2.6 per cent interest in PNG LNG to Kumul Petroleum Holdings Limited (Kumul). Santos has received the final payment of US$241 million, taking total cash consideration to US$602 million. In addition, Kumul…
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.
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 is pleased to confirm that further to the announcement on 31 August 2023 for the sale of 2.6 per cent of PNG LNG to Kumul Petroleum Holdings Limited (Kumul), funding for the transaction has been secured by Kumul. Kumul has paid approximately US$250 million into escrow with Santos as part payment of the purchase…
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 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,…
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 is pleased to announce it has executed a binding sale agreement to deliver Kumul Petroleum Holdings Limited (Kumul) a 2.6 per cent participating interest in PNG LNG for a total purchase consideration comprising cash of $576 million and the assumption of ca. $160 million of project finance debt (the Sale Agreement). Completion of the…
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…
Santos’ Executive Vice President – Eastern Australia and Papua New Guinea, Brett Darley, spoke at the 2023 Business Advantage Papua New Guinea Investment Conference today.
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