Santos Limited today announced that it has commenced gas production in Victoria to assist the State in satisfying peak winter gas demand. The gas comes from a new gas processing facility at Heytesbury, 160 km south west of Melbourne, which the company has built at a cost of $9m The facility processes gas from the…
Second quarter highlights The following results were achieved compared with the 1998 second quarter: Production volume increased by 10.5% to 12.1 million boe Sales volume increased by 19.6% to 12.8 million boe Sales revenue increased by 28.0% to $231.0 million First half highlights First half highlights compared with 1998 are as follows: Production volume increased…
Santos Group, as operator of the Tumuli-1 exploration well, advises that approval has been received from the PNG Department of Petroleum and Energy for the well to be plugged and abandoned. Approval was granted on the basis of the significant structural complexities encountered and excessive drilling difficulties to reach a much deeper, high risk and…
ANNUAL GENERAL MEETING The Santos Annual General Meeting was held inAdelaide today with the Chairman Mr John Uhrig AO and the Managing Director Mr Ross Adler AO addressing shareholders. Mr Uhrig outlined the significant achievements made by the Company in 1998 notwithstanding the impact on financial results of low oil prices. Mr Adler addressed the…
First Quarter Highlights The following results were achieved compared with the 1998 first quarter: Production volume increased by 19.5% to 12.0 million boe Sales volume increased by 17.0% to 11.0 million boe Sales revenue increased by 13.6% to $181.8 million Comment by Mr Ross Adler, Managing Director: Production, sales and revenue all grew strongly during…
Record Sales Mitigate Oil Price Impact Santos today announced an after tax operating profit for the 1998 full year of $176.3 million, a reduction of 14.5% on the record 1997 earnings. Record production and sales volumes mitigated the impact of the fall in the average oil price received of 23.6% in Australian dollar terms. This…
Santos Full Year Profit Of $176 MillionRecord Sales Mitigate Oil Price Impact Santos today announced an after tax operating profit for the 1998 full year of $176.3 million, a reduction of 14.5% on the record 1997 earnings. Record production and sales volumes mitigated the impact of the fall in the average oil price received of…
1998 Annual Report
First Santos Victorian Gas Production Santos Limited has announced that it expects to commence its first Victorian gas production in June this year. This follows the completion of a gas sales agreement with the Victorian Governments Gascor Pty Ltd. This is Santos first direct contract with a customer in Victoria. Gas will be supplied from…
Acquisition of Interest in Hides Gas Field Santos Ltd announced today that two of its wholly owned Papua New Guinea (PNG) subsidiary companies have acquired from a subsidiary of Oil Search Limited, subject to PNG Government approvals, a 31% interest in PDL 1 in PNG. PDL 1 contains the majority of the Hides Gas Field…
Fourth Quarter Highlights The following results were achieved compared with the 1997 fourth quarter: Production volume increased by 14.5% to 12.3 million boe Sales volume increased by 21.4% to 12.5 million boe Sales revenue increased by 10.8% to $217.6 million Full Year Highlights Full year highlights compared with 1997 are as follows: Production volume increased…
Third Quarter Highlights The following results were achieved compared with the 1997 third quarter: Sales revenue increased by 2.6% to $211.3 million Sales volume increased by 11.6% to 12.5 million boe Production volume increased by 17.8% to 12.3 million boe Comment by Mr Ross Adler, Managing Director: It is pleasing that sales revenue has increased…
Victorian Gas Situation In response to media queries, Santos Ltd confirms that gas from the South Australian Cooper Basin is being supplied by AGL to Victorian retailer Energy 21 through the interconnection recently completed between NSW and Victoria. Supply of gas to Victoria commenced on Friday 25 September 1998. Commenting, Santos Managing Director Mr Ross…
Santos Appoints General Manager – Petroleum Development and Planning Santos announces that Dr Ashok Khurana has been appointed General Manager Petroleum Development and Planning. Dr Khurana has more than 30 years international experience in the petroleum exploration and production industry, including 12 years experience in technical management positions, mainly with Esso Australia Ltd and Esso…
EWING BANK 994 #1 OIL DISCOVERY Santos Ltd announces today that its USA subsidiary, Santos USA Corporation, has encountered an estimated 185 net feet (true vertical depth) of oil pay in three separate zones between 7,133 and 12,956 feet (measured depth) in Ewing Bank Block 994. The Ewing Bank 944 # 1 well is located…
Santos today announced an after tax profit for the 1998 first half of $84.2 million, a decrease of 17.7% on the 1997 first half result of $102.3 million. The result reflects a reduction in the price of crude oil, mitigated by solid operational performance. Production volumes for the first half of 1998 increased by 5.5%…
Santos Interim Profit Santos today announced an after tax profit for the 1998 first half of $84.2 million, a decrease of 17.7% on the 1997 first half result of $102.3 million. The result reflects a reduction in the price of crude oil, mitigated by solid operational performance. Production volumes for the first half of 1998…
Second Quarter Highlights The following results were achieved compared with the 1997 second quarter: Production volume increased by 5.7% to 10.9 million boe Sales volume increased by 0.9% to 10.7 million boe Sales revenue decreased by 7.4% to $180.4 million Comment by Mr Ross Adler, Managing Director The 5.7% increase in production positively reflects a…
Santos Ltd announces that an agreement has been entered into with Petrobras UK Limited for the sale of Santos Europe Ltd. The effective date of the sale is 1 January 1998 and, subject to customary regulatory approval, settlement will take place on 30 June 1998. The net value of the sale to the Santos Group,…
In response to a media report that Santos has agreed to sell its UK petroleum assets, Santos Ltd advises that the sale process is proceeding in accordance with the timing outlined in its announcement of 15 January, 1998. This indicated that the sale process was expected to be concluded approximately mid year. The Company will…
ANNUAL GENERAL MEETING The Santos Annual General Meeting was held in Adelaide today with the Chairman Mr John Uhrig and the Managing Director Mr Ross Adler addressing shareholders. CHAIRMAN’S ADDRESS 1997 Result Mr Uhrig described 1997 as being a good year for the company. Sound financial results were achieved, the ordinary full year dividend was…
First Quarter Highlights The following results were achieved compared with the 1997 first quarter: Production volume increased by 5.3% to 10.1 million boe Sales volume increased by 2.2% to 9.4 million boe Sales revenue decreased by 11.7% to $160.1 million Comment by Mr Ross Adler, Managing Director The 5.3% increase in production was a pleasing…
COMMENCEMENT OF PRODUCTION FROM SE GOBE Santos Limited today announced that crude oil has begun to flow from the SE Gobe field 17 months after the issue of the Petroleum Development Licence (PDL) and 15 months after the commencement of construction. The project has been completed three months ahead of schedule and below budget. It…
Santos USA Corporation announced today that it was the high bidder on 6 blocks in the Central Gulf of Mexico following bidding in the US Offshore Continental Shelf Lease Sale No. 169 which was conducted by the US Federal Government on 18 March 1998. The award is subject to the US Minerals Management Service determining…
INCREASE IN SANTOS FULL YEAR PROFIT TO $206 MILLION RESERVES INCREASE TO OVER ONE BILLION BARRELS Santos today announced an after tax operating profit for the 1997 full year of $206.2 million, an increase of 5.3% on the 1996 result of $195.9 million. The increased profit was primarily the result of record production and sales…
Increase In Santos Full Year Profit To $206 MillionReserves Increase To Over One Billion Barrels Santos today announced an after tax operating profit for the 1997 full year of $206.2 million, an increase of 5.3% on the 1996 result of $195.9 million. The increased profit was primarily the result of record production and sales revenue.…
Fourth Quarter Highlights The following results were achieved compared with the 1996 fourth quarter: Production volume increased by 8.9% to 10.7 million boe Sales volume increased by 4.0% to 10.3 million boe Sales revenue decreased by 5.2% to $196.4 million Full Year Highlights Full year highlights compared with 1996 are summarised below. Each category represented…
Santos Ltd announced today that it intends to seek offers for the purchase of the groups oil and gas interests in the United Kingdom. The interests include up to: 32.8% in Anglia (a producing gas field) 2.9% in Pierce (oil fields under development 1.8% in Banff for production in 1998) 13.3% in Block 22/22c (includes…
INDONESIA PERMIT AWARD The Santos Group today announced that it has been awarded a 45% interest and Operator status in the Sampang Production Sharing Contract (PSC) in East Java, Indonesia. The Sampang PSC is located immediately offshore from Surabaya, Indonesia’s second-largest city, a major seaport and industrial centre The PSC contains a number of gas…
Third Quarter Highlights: The following results were achieved compared with the 1996 third quarter: Sales revenue increased by 10.3% to $205.9 million. Sales volume increased by 7.7% to 11.2 million boe. 67% success rate from exploration and appraisal wells drilled. Comment by Mr Ross Adler, Managing Director Increases in sales revenue and sales volume were…
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