Category: <span>Papua New Guinea</span>

Santos today announced the GLNG project has started producing its first liquefied natural gas (LNG) on Curtis Island, Queensland, on schedule and within budget. LNG is currently being produced from Train 1 ahead of the first cargo, which is expected to be shipped to Asian markets in the coming weeks. Work on the second train…

Santos today announced a half-year net profit of $37 million after tax, 82 per cent lower than the previous first half, reflecting significantly lower oil prices and a higher exploration expense. The half-year results were also highlighted by improvements in production and significant cost reductions across the business. Strong operational performance – particularly from PNG…

Santos released its 2015 Half Year Results today. View the full presentation below.

View the 2015 Half Year Report incorporating Appendix 4D from the link below.

Chairman to lead strategic review The Santos Board has agreed with Managing Director and Chief Executive Officer, David Knox that after seven years in the role Mr Knox will step down once a successor has been appointed. In light of the continuing pressure on the Santos share price in recent months and approaches from other…

Santos notes the steep decline in its share price on Friday 14 August 2015, and subsequent media speculation that the company is planning to launch an equity raising. Santos confirms that it has no current intention to undertake an equity raising. Santos retains ample liquidity, with over $2 billion in cash and undrawn debt facilities…

Santos Managing Director and Chief Executive Officer, David Knox, today announced a number of executive appointments. Brett Woods, currently General Manager WA & NT, has been appointed Vice President Eastern Australia. Brett will be responsible for production, development and commercialisation of the company’s oil and gas resources in Central Australia and offshore Victoria. “Brett brings…

Second quarter production up 12%, capex down 65%, GLNG on track Santos today announced higher second quarter production and higher sales volumes, as well as significant reductions to both capital and operating expenditure. Second quarter production of 14.3 million barrels of oil equivalent (mmboe) and sales volumes of 15.7 mmboe were 12% and 4% higher…

Presentation by Santos Managing Director and Chief Executive Officer David Knox to the 2015 Macquarie Australia Conference in Sydney on 7 May 2015.

First quarter production up 15%, GLNG first LNG expected around the end of Q3 Santos today announced higher first quarter production, higher sales and significant progress at the GLNG project. First quarter production of 14 million barrels of oil equivalent (mmboe) and sales volumes of 15.2 mmboe were 15% and 10% higher respectively than the…

Santos has released its 2014 Shareholder Review, 2014 Annual Report, 2014 Sustainability Report and its Notice of Annual General Meeting 2015. The 2014 Shareholder Review and 2014 Annual Report detail Santos’ performance and results and outline the company’s outlook and strategy. The 2014 Sustainability Report provides information on Santos’ management approach and sustainability performance. The…

On 20 February 2015 Santos announced a fully franked final dividend of fifteen cents per share would be paid on 25 March 2015 to shareholders on record as at 27 February 2015. It also announced that the DRP would be in operation for this dividend. DRP shares would be issued at the arithmetic average of…

Santos today announced that Ken Borda will retire as Chairman at the Annual General Meeting on 30 April 2015. Mr Peter Coates AO, currently a non-executive director, will resume the role of Chairman. Mr Coates previously served as Santos Chairman from December 2009 to May 2013 and returns to the role following his time as…

Santos 2014 Full-year results presentation

Santos 2014 full-year underlying profit up 6 percent to $533 million Net loss of $935 million, reflecting previously advised non-cash after tax impairments of $1,563 million Full-year highlights Production up 6% to 54.1 mmboe Sales revenue up 12% to $4 billion EBITDAX up 8% to $2,153 million Operating cash flow up 13% to $1,843 million…

Santos today announced that proved plus probable (2P) petroleum reserves were 1,245 million barrels of oil equivalent (mmboe) as at the end of 2014. This represents an organic five-year 2P reserves replacement ratio of 97% and provides a reserves life of 23 years based on 2014 production of 54 mmboe. Proved (1P) reserves increased to…

2014 Full Year Report incorporating Appendix 4E

Santos advises that it expects to recognise a non-cash impairment charge of approximately $1.6 billion after tax in its 2014 full-year accounts. The impairment charge reflects the lower oil price environment and is a non-cash accounting adjustment that relates to the historical book value of the company’s assets. Impairment outcomes are subject to finalisation of…

Strong quarterly production, record sales revenue and appraisal success at Barossa Santos today announced company records for sales revenue in both the quarter ($1.1 billion) and the full year ($4 billion), reflecting the successful ramp-up of production from the PNG LNG project as well as higher Cooper Basin production. Fourth quarter production of 15.1 mmboe…

A locally made bicycle measuring 41.9 metres and carrying 20 passengers will this Saturday (17 January 2015) attempt to ride its way into the Guinness Book of Records and become the world’s longest bicycle. The attempt will take place on Rundle Road, Adelaide CBD (between East Terrace and Dequetteville Terrace) at 10 am.The bike will…

Santos today announced that it had secured an additional 3-year, $1 billion bilateral bank loan facility. The new facility with ANZ Banking Group significantly enhances Santos’ liquidity profile and financial flexibility at attractive funding costs. Santos Chief Financial Officer Andrew Seaton said that the facility further strengthens Santos’ conservative liquidity profile. “This facility provides a…

Santos has today reduced its projected 2015 capital expenditure to $2.0 billion from the previous guidance of $2.7 billion. Making the announcement, Santos Managing Director & Chief Executive Officer David Knox reaffirmed the strength of Santos’ financial position notwithstanding the substantial fall in the oil price and the company’s share price in recent weeks. “We…

Santos notes that Standard & Poor’s Ratings Services (S&P) has revised its long term senior unsecured credit rating for Santos from BBB+ (negative outlook) to BBB (negative outlook). Santos Chief Financial Officer Andrew Seaton said that Santos retained an investment grade credit rating from S&P. “Santos has a robust funding position, with approximately $2 billion…

At its Investor Seminar on 26 November 2014, Santos noted it was considering a potential European hybrid issue, subject to acceptable market conditions. Since that date, the oil market has experienced considerable volatility following OPEC’s announcement that it would maintain existing production levels. In response to this marked change in market conditions, Santos has decided…

Santos this morning delivered the 2014 investor presentation in Sydney.

The synthesis report released by the Intergovernmental Panel on Climate Change (IPCC) this week provides not only a reminder of the need for global action to address climate change but also of the important role that natural gas will play in the transition to a low carbon economy. Its report states there is robust evidence…

Santos has been inducted as a National Trust Corporate Icon in recognition of its outstanding contribution to South Australia. The Governor of South Australia, His Excellency The Honourable Hieu van Le AO, as National Trust Patron-in Chief, presented the award at a gala dinner to commemorate Santos’ 60th Anniversary held at the Adelaide Oval last…

Santos Chairman, Ken Borda, today announced the appointment of Yasmin Allen to the Santos Board as an independent non-executive director, effective 22 October 2014. Ms Allen has more than 20 years experience in finance and investment banking, including senior roles at Deutsche Bank AG, ANZ and HSBC Group Plc. Ms Allen is a director of…