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.
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 Managing Director & CEO, Kevin Gallagher addressed the APPEA Conference in Adelaide today.
Managing Director & CEO Kevin Gallagher’s presentation at the 2023 Macquarie Australia Conference held today.
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…
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 today announced the Papua LNG joint venture has launched fully-integrated front-end engineering and design (FEED) for the Papua LNG project in Papua New Guinea. Papua LNG is expected to have liquefaction capacity of up to six million tonnes of LNG per annum with first production expected by the end of 2027 or early 2028.…
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…
Record sales revenue and free cash flow Delivered record year-to-date sales revenue of US$5.9 billion, up 86 per cent, and record free cash flow of US$2.7 billion, up 194 per cent on the corresponding period Third quarter production of 26.1 mmboe was slightly higher than the second quarter primarily due to increased domestic gas demand…
Santos advises it has received a binding conditional offer from Kumul Petroleum Holdings Limited (Kumul) to acquire a 5 per cent project interest in PNG LNG for asset value of US$1.4 billion, including a proportionate share of project finance debt of approximately US$0.3 billion (the Offer). Kumul is Papua New Guinea’s national oil and gas…
Santos reports record first half free cash flow and underlying earnings, and higher shareholder returns Highlights Underlying profit[1] US$1,267 million, up 300% Statutory net profit after tax US$1,167 million, up 230% EBITDAX[1] $2,731 million, up 122% Free cash flow[1] US$1,708 million, up 199% Annual merger integration synergies target increased to US$110-125 million US$605 million in…
Santos is continuing a proud legacy of supporting the national sport of Papua New Guinea and women’s empowerment through its naming rights sponsorship of the PNG Orchids, the national women’s rugby league team. The PNG Orchids through the PNG Rugby Football League (PNGRFL) Inc. received K1.8 million from Santos to back its World Cup Campaign…
Santos, Western Australia’s biggest domestic gas supplier, is pleased to announce it has entered into new gas supply agreements with Yara Pilbara Fertilisers Pty Ltd (Yara) to supply natural gas to Yara’s liquid ammonia plant on the Burrup Peninsula in Western Australia. Santos will supply over 120 petajoules of natural gas over five years, starting…
Santos Chair Mr Keith Spence and Managing Director & CEO Mr Kevin Gallagher have addressed the 2022 Santos Annual General Meeting held Tuesday, 3 May 2022.
Papua New Guinea’s successful landowner catering company, PNG Mining and Petroleum Hospitality Services (PNGMPHS) has joined partnership with Santos and the Fresh Produce Development Agency (FPDA) to continue to improve livelihoods through sustainable agriculture business opportunities. The PNGMPHS will help train communities in the Moran and Kutubu areas of the Southern Highlands to learn different…
Record quarterly production, sales revenue and free cash flow Santos achieved record production of 26 million barrels of oil equivalent (mmboe) in the first quarter Stronger commodity prices combined with higher sales volumes delivered record quarterly sales revenue of US$1.9 billion, up 25 per cent compared to the prior quarter and 99 per cent higher…
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