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

Santos today announced a doubling of half-year underlying profit to US$217 million and the reinstatement of dividends to shareholders

Santos Managing Director and Chief Executive Officer Kevin Gallagher said: “Santos’ strategy has been to establish a low cost operating model that is designed to deliver strong cash flows through the oil price cycle.” “Our second quarter results demonstrate the strength of our diversified portfolio of core assets underpinned by a disciplined operating model and…

In line with Santos’ stated purpose to provide sustainable returns to our shareholders, the Board has approved a new Dividend Policy. Santos will look to pay ordinary dividends that are sustainable through the oil price cycle and will target a range of 10% to 30% payout of free cash flow1 generated per annum. Furthermore, given…

Santos today welcomed the Gas Statement of Opportunities report released by the Australian Energy Market Operator (AEMO), which forecasts a 58 PJ gas surplus in the east coast domestic market in 2019. This surplus is equivalent to 10 per cent of total expected 2019 domestic gas demand. Last year AEMO forecast a 48 PJ gas…

On 21 May 2018 Santos received a conditional binding offer from Harbour Energy Ltd (Harbour) to acquire 100 per cent of Santos shares by way of a scheme of arrangement at a cash price of US$5.21 per share (currently equivalent to A$6.861 per share) (Final Proposal). Harbour indicated that it would be willing to increase…

Santos advises that on 21 May 2018 it received a revised binding, conditional proposal from Harbour Energy Australia Pty Ltd (Harbour) to acquire 100% of Santos shares by way of a scheme of arrangement for consideration of US$5.21 per share (equivalent to A$6.95 per share based on an exchange rate of 0.75) (Revised Harbour Proposal).…

Santos advises that it has received a binding, conditional proposal (Revised Harbour Proposal) from Harbour Energy Australia Pty Ltd (Harbour) to acquire 100% of Santos shares by way of a scheme of arrangement for consideration equivalent to US$4.98 per share. This follows receipt of an indicative and conditional proposal (announced on 3 April 2018) and…

Santos CEO, Kevin Gallagher delivered the opening Plenary Address at the 2018 APPEA Conference.
Read the speech here

Santos refers to its ASX Release on 15 May 2018 which made reference to media reports regarding a preliminary agreement between ENN and Harbour Energy (Harbour) which followed an announcement by ENN Ecological Holdings (ENN) to the Shanghai Stock Exchange. ENN has since advised Santos that media reports were not an accurate translation of their…

On 3 April 2018, Santos announced the receipt of an unsolicited, non-binding, indicative and conditional proposal (Harbour Proposal) from Harbour Energy (Harbour) to acquire 100% of Santos shares for US$4.981 per share. Santos agreed to engage further with Harbour and allowed it the opportunity to undertake confirmatory due diligence. Santos notes media speculation that ENN…

Santos today announced the sale of its non-core Asian portfolio to Ophir Energy plc (Ophir) for US$221 million. The sale is consistent with Santos’ strategy to realise value from its late-life non-core assets and will result in Santos making country exits from Vietnam, Indonesia1, Malaysia and Bangladesh. The assets sold to Ophir include the following…

Santos Chairman Mr Keith Spence and Managing Director & CEO Mr Kevin Gallagher address the 2018 Santos AGM in Adelaide.

Santos Managing Director and Chief Executive Officer Kevin Gallagher said: “Santos’ first quarter results highlight the benefits of a diversified portfolio of natural gas assets underpinned by a disciplined operating model focused on cash generation.” “In the first quarter of 2018, we generated $246 million in free cash flow, reduced net debt by 8% to…

Santos advises that on 29 March 2018 it received an unsolicited, non-binding, indicative and conditional proposal (“Harbour Proposal”) from a special purpose entity of Harbour Energy Ltd (“Harbour”) for it to acquire 100 per cent of Santos shares by way of a scheme of arrangement. The indicative offer price is US$4.98 per share, which in…

Santos has today released its Notice of Annual General Meeting 2018.
The Santos AGM will be held at the Adelaide Convention Centre on Thursday, 3 May 2018 commencing at 10:00am ACST.

New strategy delivers 433% increase in underlying profit to US$336 million Santos Managing Director and Chief Executive Officer Kevin Gallagher said the company’s full-year results demonstrated a significant turnaround in business performance ahead of plan. “We have removed substantial costs, reported a material increase in underlying profit, generated significant free cash flow and reduced net…

Santos has today released its inaugural Climate Change Report, consistent with the G20 Taskforce on Climate-Related Financial Disclosure guidelines. See link below.

Santos has today released its 2017 Shareholder Review. See link below.