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 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…
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…
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…
A consortium led by Australias largest net gas producer, Santos Limited (ASX:STO, NASDAQ:STOSY), is to undertake one of the biggest petroleum exploration programs mounted in southern Australia. The total program could see exploration expenditures of up to $185 million over the next six years, in four new blocks, extending from south of Portland in Victoria…
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Santos Limited (ASX: STO, NASDAQ: STOSY) today announced an after-tax profit of $163 million, or 25 cents per share, for the six months ended 30 June 2002. The result compared with the record $252 million in the previous corresponding period which included sharply higher world oil prices. Interim dividend has been maintained at 15 cents…
Australian oil and gas group, Santos Limited (ASX:STO, NASDAQ:STOSY) is involved in negotiations for a 20 year contract for sale of gas from Indonesia to Malaysia. Santos said today that a Memorandum of Understanding (MOU) has been signed between the Indonesian and Malaysian State oil companies (Pertamina and Petronas), to supply gas from onshore gas…
Santos Ltd has made a natural gas discovery Crocker Perkins 2 – in a new area for the Company in Texas. Santos has made a deep gas discovery in the Wilcox trend with Crocker Perkins 2. The well, is located in Live Oak County, was directionally drilled to a total depth of more than 4,600…
Oil and gas producer, Santos Ltd, is pleased to report a 7.4% jump in production in the 2002 second quarter. Total production was 14.6 million barrels of oil equivalent (mmboe), up from 13.6 million boe in the 2001 second quarter. This growth reflects a 10.9% increase in natural gas production. Gas production increased in all…
Santos Ltd announces that its wholly owned subsidiary, Santos (Madura Offshore) Pty Ltd, as Operator of the Madura Offshore PSC situated south east of Madura Island, East Java, has conducted a successful flow-test of the Maleo-1 exploration well. The final measured flow rate was 382,291 cubic metres per day (13.5 million cubic feet per day)…
Santos Group Announces New Indonesian Gas Discovery Santos (Madura Offshore) Pty Ltd, as Operator of the Madura Offshore PSC situated southeast of Madura Island, East Java, announces a new gas discovery resulting from the Maleo-1 wildcat exploration well. Maleo-1, drilled on the flank of a large four-way dip structure, encountered a 48 metre gross gas…
Santos Announces Expanded Otway Basin Production And Gas Sales Agreement Santos Limited today announced that it has executed a gas sales agreement with a major energy retailer for further production from the Victorian onshore Otway basin. Santos has also concluded a gas purchase arrangement whereby Santos will purchase Beach Petroleum NL’s 10% share of production…
This is a good start to the year. Sales revenue was $322 million, close to the 2001 first quarter. Higher oil production and sales largely offset the impact of sharply lower oil prices and a record cool summer. Oil prices have moved higher over the last two months. Sales volumes increased by 9% to 13.0…
Santos Ltd today announced that its wholly owned subsidiary, Santos Americas and Europe Corporation (“Santos Americas”), successfully completed its acquisition of Esenjay Exploration, Inc. (NASDAQ : ESNJ) on 26 April 2002 (Houston time). A copy of the press release issued by Santos Americas is attached. Commenting, the Company’s Managing Director, Mr. John Ellice-Flint said, “The…
Santos Ltd today announced that its wholly owned subsidiary, Santos Americas and Europe Corporation (“Santos Americas”), has successfully completed its cash tender offer to acquire all outstanding shares of Esenjay Exploration, Inc (NASDAQ : ESNJ).The offer expired at 12.00 midnight (New York City time) on 22 April, 2002 at which time approximately 92.3% of the…
Speaking in Adelaide today at the annual conference of the Australian Petroleum Production and Exploration Association (APPEA), Santos Managing Director Mr John Ellice-Flint said, “Australian oil independents need to expand overseas to grow.” However Mr Ellice-Flint said that Australian companies face tax disadvantages. “US companies can write-off Australian exploration spending against their US income. However,…
Speaking at the Santos Ltd Annual General Meeting held in Adelaide today, the Chairman, Mr Stephen Gerlach said that a new and vigorous growth profile for the Company is starting to take shape. “The strategy that we released twelve months ago was aimed at growth. I am pleased to say that we are getting runs…
Santos has learned that the Government of the Independent State of Papua New Guinea has decided not to proceed with the Santos proposal regarding Orogen Minerals Limited. Mr John Ellice-Flint, the Managing Director of Santos, said: “Santos is disappointed that the PNG Government has decided not to support the Company’s proposed offer for Orogen, which…
Santos Limited (ASX: STO, NASDAQ: STOSY) today announced that it is considering making a takeover offer for Orogen Minerals Limited (Orogen) at a cash price of A$2.00 per share, which would value Orogen at A$642 million. Santos is currently in discussions with Orogen’s 51% shareholder, Mineral Resources Development Company Limited (MRDC), a wholly owned entity…
South Texas Exploration Acreage Expected To Increase More Than Four-fold Santos Ltd (ASX: STO, NASDAQ: STOSY) today announced that Santos Americas and Europe Corporation (“Santos”), and Esenjay Exploration, Inc. (NASDAQ: ESNJ) (“Esenjay”) have entered into a definitive merger agreement under which Santos will offer to purchase for cash all of the outstanding common shares of…
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