2025 Macquarie Australia Conference
Managing Director & CEO Kevin Gallagher’s presentation at the 2025 Macquarie Australia Conference held today.
2025 First Quarter Report
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…
2025 Annual General Meeting
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…
Angore online with strong production to PNG LNG
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…
Santos completes 2.6 per cent sale of PNG LNG to Kumul
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…
2024 Half-year results video
2024 Half-year results
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…
2024 Second Quarter Report
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…
2024 Macquarie Australia Conference
Managing Director & CEO Kevin Gallagher’s presentation at the 2024 Macquarie Australia Conference held today.
2024 First Quarter Report
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…
2024 Annual General Meeting
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
2023 Full-year Results Video
2023 Full-year Results
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…
Sustainability and Climate Report 2023
Santos has today released its Sustainability and Climate Report 2023.
2023 Annual Reserves and Resources Statement
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,…
Partial completion of sale of 2.6 per cent of PNG LNG to Kumul
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…
2023 Fourth Quarter Report
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 confirms funding conditions met to complete sale of 2.6 per cent of PNG LNG to Kumul
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…
Papua New Guinea Resources and Energy Investment Conference & Exhibition 2023
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.
2023 Investor Day
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,…
CEO flexible working arrangement to year end
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 prices US$850 million 10-year US 144A/RegS bond
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 agrees an initial sale of 2.6 per cent of PNG LNG to Kumul and an option for Kumul to acquire a further 2.4 per cent
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…
2023 Half-year Results Video
2023 Half-year results
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…
Papua New Guinea Investment Conference 2023
Santos’ Executive Vice President – Eastern Australia and Papua New Guinea, Brett Darley, spoke at the 2023 Business Advantage Papua New Guinea Investment Conference today.
2023 Second Quarter Report
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…
CEO speech to APPEA Conference 2023
Santos Managing Director & CEO, Kevin Gallagher addressed the APPEA Conference in Adelaide today.
2023 Macquarie Australia Conference
Managing Director & CEO Kevin Gallagher’s presentation at the 2023 Macquarie Australia Conference held today.
PNG LNG sell-down exclusivity period with Kumul extended
Santos refers to its announcement of 27 September 2022 regarding the binding conditional offer from Kumul Petroleum Holdings Limited (Kumul) to acquire a five per cent interest in PNG LNG for asset value of US$1.4 billion, including a proportionate share of PNG LNG project finance debt of approximately US$0.3 billion (the Offer). On 23 December…
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