Santos profit increases to $170 million before write-downs First half profit up 2.2% before write-downs Net profit down 16.6% after write-downs 6.4% rise in sales revenue to $716.0 million Cash flow increased 35.6% to $421.7 million 350 PJ of gas commercialised in new contracts Leverage reduced to 25.3% 15 cents per share interim dividend Strong…
Santos Limited has expanded its deepwater acreage in the offshore Otway Basin having been awarded its sixth operated exploration permit in the area.Santos (50% and operator), in joint venture with independent US oil company, Unocal (50%), has been awarded exploration permit T/35P in the Tasmanian portion of the offshore Otway Basin. T/35P is located immediately…
Santos gas revenue up 15.5% to $193.5 million Santos Limited today reported that sales gas revenue in the June quarter rose 15.5% from $167.5 million to a record $193.5 million on sales volumes of 59.0 petajoules (PJ). A large component of the strong June quarter sales improvement came from the United States where Santos gas…
Santos Limited (through its wholly owned subsidiary Santos (Sampang) Pty Ltd) and its joint venturers are set to secure a slice of the developing East Java gas market following the signing of a new long term agreement to sell over 90 billion cubic feet (BCF) of gas.Santos and its joint venturers have signed a Gas…
Santos Ltd has, subject to the satisfaction of certain conditions, agreed to accept an off-market take-over bid of $4.25 per share announced by Origin Energy Limited (Origin) for Oil Company of Australia (OCA) in respect of 2.9 million shares in OCA held by the Santos Group.Apart from Santos commitment for 2.9 million OCA shares, the…
Santos Limited is set to formally join the world Liquefied Natural Gas (LNG) market and add more than three million barrels of oil equivalent to its annual production following signing of final approvals for the giant Bayu-Undan gas development by the Timor Sea Designated Authority.This project, involving Timor-Leste and Australia, will be the first cross-border…
Santos Limited announces that it has taken up a 20 per cent non-operated interest in two deep-water exploration permits off-shore Indonesia.This is a continuation of Santos strategies to add higher impact exploration acreage and build its South East Asian energy business. The Popodi and Papalang Production Sharing Contract (PSC) areas lie in the deepwater portion…
The Titan BP 1 well was plugged and abandoned after reaching a total depth of 791 metres. It intersected 49 metres of gross gas charged sandstones of the Tawun Formation containing 75% carbon dioxide and 25% natural gas. The well is located 100 kilometres northeast of Kepodang Gas Field and 160 kilometres from Surabaya, East…
Addressing the Annual General Meeting of Santos Ltd, the Chairman, Mr Stephen Gerlach, told shareholders that 2002 had been one of the most productive and exciting years in the Companys 49-year history. The Company: Achieved record production and sales, Established three new growth projects, Commercialised 620 petajoules of gas, Achieved savings in capital and operating…
Australian oil and gas company, Santos Limited, today reported its highest ever first quarter revenue. The record total sales revenue of $368.7 million for the three months to 31 March 2003, driven by higher gas sales and increased prices for all products, was 14.5% stronger than the $322.0 million for the previous corresponding period. The…
In response to the article appearing in todays Australian Financial Review entitled Santos in line to buy PNG assets, Santos advises that, whilst it does not generally comment on press speculation, the Company has not made an offer, not made a bid and not negotiated with ChevronTexaco for their Papua New Guinea assets.
The Board of Directors of Santos Limited, one of Australias leading oil and gas companies, will meet this week in Darwin.Santos Chairman, Mr Stephen Gerlach, said the decision to hold the Board meeting in the Northern Territory reflected the importance of northern Australia as a key growth area for the oil and gas group. “This…
2002 Annual Report
Santos Limited (ASX: STO, NASDAQ: STOSY) today announced a net profit after tax and exploration write-offs of $322.1 million, or 51.2 cents per share, for the 12 months ended 31 December 2002. The Companys underlying operating profit remained strong at $392.3 million before $70.2 million of after-tax exploration write-offs ($449.7 million operating profit before write-offs…
Santos Limited today announced that its wholly owned subsidiary Santos (Sampang) Pty Ltd had entered into a Heads of Agreement (HoA) with PT Indonesia Power for the sale of the entire gas reserves of the off-shore Oyong field in East Java, Indonesia. The Oyong field is estimated to contain in excess of 90 billion cubic…
Santos advances to record 2002 production Australian-based oil and gas group, Santos Limited, today announced record production and sales volumes for the year ended 31 December, 2002. The Company also achieved higher sales revenue of $1.48 billion – the second highest annual revenue for Santos since its formation nearly 50 years ago. The record performance…
Santos Ltd, as operator of PPL 190, has confirmed a flow rate of 2,000 barrels of oil per day from its first on-shore oil discovery in Papua New Guinea.The confirmation follows a successful flow test of the Bilip1 oil discovery in PPL 190 permit in the Southern Highlands of PNG. A closed chamber drill stem…
Santos has been awarded off-shore exploration acreage in the Duntroon Basin, 70 kilometres south of Port Lincoln, off South Australias Eyre Peninsula. This is Santos first exploration acreage in South Australian waters. The Federal and South Australian governments have jointly awarded the Duntroon Exploration block EPP32 to Santos. The block covers 5,315 square kilometres and…
5 December 2002 Santos Limited has announced a successful gas appraisal well in Indonesia. Its wholly owned subsidiary, Santos (Madura Offshore) Pty Ltd, as operator of the Madura Offshore Production Sharing Contract (PSC) located south east of Madura Island, East Java, has conducted a successful flow-test of the Maleo-2 gas appraisal well. The well flowed…
Santos , as operator of the Bilip exploration well in PPL 190 in the Southern Highlands of PNG, has completed wire-line logging operations.At 6 am the well was at 2,540 metres and was preparing to drill ahead. A 30 metre gross hydrocarbon column has been recorded with an oil water contact at 2,453 metres in…
Record quarterly performance The three months ended 30 September, 2002, have proved a strong growth period for Santos Limited, including: The highest ever production and sales for any quarter Production up 3.4% to record 15.2 million barrels of oil equivalent (mmboe) – the first time quarterly output has exceeded 15 million barrels. Sales volumes up…
Santos is among the top companies for corporate governance in Australia, according to a recent survey of Australias top 250 listed companies.The study was conducted by the University of Newcastle in conjunction with accounting firm Horwath. It assigned a star rating to their corporate governance practices, with five stars being the highest performance accolade. Santos…
Santos Limited welcomes the South Australian Governments announcement today that it will move forward with the protection of the Coongie Lakes. Santos has entered into a Memorandum of Understand that the company brokered with South Australian conservation groups, recommending permanent protection for the Coongie Lakes area not currently covered by petroleum licenses. The Memorandum of…
Santos Limited, as operator of VIC/P44 confirms a non commercial gas discovery in the offshore Victorian section of the Otway Basin. The exploration well Casino 2 reached a total depth of 2112 metres from rotary table (2087 metres below sea level) after penetrating two hydrocarbon bearing reservoirs, confirmed by initial wireline log analysis. Evaluation of…
Santos Limited has attracted strong support from international investors for a US$300 million (A$550 million) private placement of long-term senior unsecured notes. “The placement was heavily oversubscribed. The initial offering was for $US200 million,” Santos’ Managing Director, Mr John Ellice-Flint, said today. We are pleased to have such a strong vote of confidence by international…
CASINO 1 GAS DISCOVERY OFFSHORE OTWAYSantos Limited (ASX:STO, NASDAQ:STOSY), as operator of the offshore Otway permit VIC/P44 announces a gas discovery in the Casino 1 well. A confirmed gas column in the order of 47 metres has been indicated by wireline logs. The well is currently in the process of being plugged and abandon at…
NEW ADELAIDE EDUCATION CENTRE FOR $16 BILLION AUSTRALIAN OIL AND GAS INDUSTRY Adelaide has become a new education centre for Australia’s $16 billion oil and gas industry with the official opening of the University of Adelaide’s new School of Petroleum Engineering and Management by the Prime Minister, the Hon John Howard MP. The School will…
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