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

Santos today outlined how its new strategy had transformed the company into a business that generates significant free cash flow in the current oil price environment. Speaking at the company’s Investor Day in Sydney, Santos Managing Director and Chief Executive Officer Kevin Gallagher said the excellent progress on the Transform-Build-Grow strategy presented to the market…

Santos today announced that Keith Spence will succeed Peter Coates AO as Chairman in February 2018, at which point Mr Coates will retire from the Board. Mr Coates announced his intention to step down from the Board pending the recruitment of his successor at the Company’s AGM in May this year. Mr Spence will join…

Santos Managing Director and Chief Executive Officer Kevin Gallagher said: “The company’s third quarter results continue to highlight the value of our disciplined operating model in delivering a low-cost, reliable and high performance business that can generate significant free cash flow in the current oil price environment.” “Compared to the end of 2016, our net…

Santos today announced non-executive director Roy Franklin OBE will retire from the Board effective 30 September 2017.
Mr Franklin has recently been appointed Chairman of Premier Oil plc in the United Kingdom.
Santos Chairman Peter Coates AO thanked Mr Franklin for his 11 years of dedicated service to the Santos Board and shareholders.

Santos has released the 2017 First Half Shareholder Update.
To view this document please click on the link below.

Santos today announced that it has priced a US$800 million senior unsecured fixed rate bond transaction in the US Dollar Regulation S market. The bonds will be issued by Santos Finance Limited, a wholly owned subsidiary of Santos Limited, off the Company’s Euro Medium Term Note Programme (EMTN Programme), dated 30 August 2017. The bonds…

Santos today announced that, together with Origin, it had signed a new agreement continuing its support for the manufacturing industry through the supply of ethane gas to Qenos, Australia’s sole producer of polyethylene and a leading supplier of world class polymers. Under the agreement, Santos and Origin will supply an estimated 27 petajoules to Qenos…

Santos today announced it had signed a location swap agreement facilitating the delivery of at least 18 PJ of gas per annum into the southern domestic market. Under the three year agreement (with an option to extend for a further year), which takes effect in January 2018, Santos will take delivery of gas at Wallumbilla.…

Santos today announced non-executive director Greg Martin has retired from the Board for personal reasons. Mr Martin said he had decided now is an appropriate time to re-assess his board responsibilities, which included the Santos Board and his executive responsibilities at Prostar Capital. “It has been a great privilege to serve on the Board of…

Underlying profit increased to US$156 million. Net loss of US$506 million, including previously announced US$689 million after-tax net impairment Strong delivery of the Santos turnaround. Costs reduced, sales volume guidance upgraded, stronger cash flows, free cash flow breakeven reduced to US$33 per barrel and net debt reduced to US$2.9 billion Managing Director and Chief Executive…

View the 2017 Half Year Report incorporating Appendix 4D from the link below.

Santos released its 2017 Half Year Results today. View the full presentation below.

Santos today announces it is exercising its option to redeem its Euro 1 billion Subordinated Notes (Notes) originally issued in 2010, on the first call date of 22 September 2017. The redemption is in-line with the company’s strategic focus on debt reduction, cost reduction and prudent capital management. The significant business turnaround Santos has undertaken…

Santos today announced it expects to recognise a non-cash net impairment charge of approximately US$690 million after tax in its 2017 half-year results to be released on 24 August 2017. In determining the carrying value of its assets, Santos considers a range of asset and macro assumptions, including oil price, exchange rates, discount rates, production…

Santos today announced the appointment of Philip Byrne as Executive Vice President Marketing and Trading. Mr Byrne, who will commence on 14 August 2017 and will be a member of the Santos Executive Committee, will take charge of Santos’ new Marketing and Trading Division as part of his responsibilities. Mr Byrne will transition into the…

Santos Managing Director and Chief Executive Officer Kevin Gallagher said the company’s second quarter results delivered further progress on reducing costs, lowering net debt and improving the free cash flow position. “Compared to the end of 2016, our net debt position is US$600 million lower to US$2.9 billion and our forecast free cash flow breakeven…

In accordance with listing rule 3.15.1, please be advised that the registry management services relating to Santos Limited are to be transferred from Computershare Investor Services Pty Limited to: Boardroom Pty LimitedLevel 12, 225 George Street Sydney NSW 2000 GPO Box 3993Sydney NSW 2001 Telephone: 1300 096 259International: +61 9290 9600Fax: (02) 9279 0664 Email:…

Santos today announced it will continue its support for the Tour Down Under (TDU), re-signing as the naming rights partner for the next two years. Santos Managing Director and CEO Kevin Gallagher, said the company had a long history with the TDU as naming rights sponsor since the 2010 event and was pleased it would…

Santos today announced a strategic relationship with existing shareholders ENN Group (ENN) and Hony Capital (Hony). ENN and Hony are associated shareholders of Santos with an aggregate relevant interest of 15.1% of Santos shares. The strategic relationship will become effective and remain in effect for so long as ENN and Hony have a relevant interest…

Santos today announced that Vanessa Guthrie has been appointed to the Santos Board as an independent non-executive director with such appointment to take effect on 1 July 2017. The appointment of Dr Guthrie is part of the Board’s ongoing renewal process, following the retirement of Scott Sheffield at the conclusion of the recent Annual General…

Santos notes the purchase of 48 million shares representing 2.3% of the company’s issued capital at a price of $3.84 by Hony Capital after market close on 3 May 2017.
Santos understands the purchase will increase Hony, ENN and affiliates’ interest in the company to 15.1%.
The acquisition price represents a 6% premium to yesterday’s closing price of $3.63.

Santos Chairman Mr Peter Coates and Managing Director & CEO Mr Kevin Gallagher address the 2017 Santos AGM in Adelaide.

We note the Commonwealth Government announcement regarding the introduction of a new Australian Domestic Gas Security Mechanism. As an Australian company, Santos has been a long term supplier of natural gas at affordable rates in support of the domestic market. Moving forward Santos will supply more gas into the Australian domestic market than it purchases…

Santos has today released its First Quarter Activities Report for the period ending 31 March 2017. Santos Managing Director and Chief Executive Officer Kevin Gallagher said today’s release of the first quarter results was further evidence the Santos turnaround strategy was delivering positive results. “Our costs have again been reduced, we have improved our free…

Santos today announced the early repayment of US$250 million of its US$1.2 billion Export Credit Agency (ECA) supported Uncovered Syndicated Facility, scheduled to mature in 2019. The repayment will be made on 18 April and generate annual gross interest savings of approximately US$5.5 million. Following the repayment, the outstanding balance of the facility will be…

Santos has today released its Notice of Annual General Meeting 2017.
The Santos AGM will be held at the Adelaide Convention Centre on Thursday, 4 May 2017 commencing at 10:00am.

In accordance with ASX Listing Rule 3.17A, the Company gives notice that the attached resolutions for the Annual General Meeting on 4 May 2017 have been received under section 249N of the Corporations Act from 103 shareholders representing approximately 0.018% of the Company’s shares on issue. The Company understands the resolutions have been promoted by…

The 2016 Shareholder Review includes a message from the Chairman and CEO as well as commentary on our asset activities.