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

Net loss of $2.7 billion, reflecting after tax impairments of $2.8 billion and lower oil prices Key points Production up 7% to 57.7 mmboe Average realised oil price down 48% to US$54 per barrel Sales revenue down 20% to $3.2 billion Unit production cost per barrel down 10% to $14.40/boe EBITDAX down 17% to $1.9…

Santos has released its 2015 full year report incorporating Appendix 4E.

Santos has released its 2015 full year results presentation.

Reserves Summary Proved (1P) reserves at year end were 485 mmboe, 22% lower than 2014. Proved plus probable (2P) reserves were 945 mmboe, 24% lower than 2014. The impact of the lower oil price environment combined with asset divestments and 2015 production of 58 mmboe were the key factors in the reduction in booked reserves…

Santos Executive Chairman Peter Coates said the company’s fourth quarter results reflect the company’s response to the challenging oil price environment. He said Santos will continue to review its operational and development plans with a focus on preserving cash. “Santos is well placed to withstand an extended period of low oil prices, with $4.8 billion…

Santos notes that Standard and Poor’s ratings Services (S&P) has revised Santos’ long-term senior unsecured credit rating from BBB to BBB-. Santos’ credit rating remains investment grade and there is no material change in Santos’ financial position as a result of the announcement from S&P. None of the company’s existing drawn or undrawn debt facilities…

Santos today announced that the GLNG project participants have executed an agreement with AGL Energy Limited (AGL) for the purchase of 254 petajoules of gas for supply to the GLNG project. The gas will be delivered at Wallumbilla over a period of 11 years commencing in January 2017, with pricing based on an oil-linked formula.…

Santos announced on 9 November 2015 the appointment of Kevin Gallagher as the company’s new Managing Director and Chief Executive Officer. Santos advises that Mr Gallagher will commence his duties at Santos on 1 February 2016. Santos Executive Chairman Peter Coates said that he was delighted to welcome Mr Gallagher and looked forward to working…

Santos Limited announced today that highly respected energy and resources executive, Mr Kevin Gallagher, currently CEO of engineering services group, Clough Limited (Clough), has been appointed as the new Managing Director and CEO of Santos.

Strategic Review completed: $3.5 billion capital initiatives strengthen balance sheet Key Points 1. $3.5 billion reduction of net debt through: $520 million from sale of interest in Kipper gas field to Mitsui E&P Australia Pty Ltd $500 million private placement at a 15% premium to last close to an affiliate of the China-based international private…

GLNG successfully delivered on time and within budget. 2015 LNG sales volumes surpass 1 million tonnes Santos today announced that its year-to-date equity share of LNG sales volumes exceeded 1 million tonnes during the third quarter. LNG sales volumes have more than doubled in 2015 and growth is expected to continue in the fourth quarter…

Santos Limited advises that on 20 October 2015 it received an indicative, highly conditional and non-binding proposal from Scepter Partners (Scepter), on behalf of the managed funds of its core stakeholders, to acquire all of Santos for a cash consideration of A$6.88 per share (Proposal). The Santos Board has met to consider the Proposal and…

Santos today announced the first shipment of liquefied natural gas (LNG) from its US$18.5 billion GLNG project has left Curtis Island bound for South Korea. The first cargo is being carried by the Malaysian-owned LNG ship Seri Bakti and will be delivered to South Korea in the coming weeks. Santos Managing Director and Chief Executive…

Santos today announced further head-count reductions in its Eastern Australia business as part of its ongoing drive to cut costs across the Company in the current period of low oil prices. The organisational changes are consistent with the objective of the Company’s strategic review announced in August, to restore and maximise shareholder value. Approximately 200…

Today Santos released the 2015 first-half shareholder update.

To view this document please click on the link below.

Santos announces Dividend Reinvestment Plan (DRP). To view this announcement please click on the link.

Two wins at the 2015 National Women in Resources Awards night has highlighted Santos’ commitment to ongoing gender diversity and equality. After winning the South Australian Chamber of Mines & Energy (SACOME) State award for Exceptional Young Woman in South Australian Resources in August, Santos Senior Reservoir Engineer Helena Wu has gone on to win…

Santos today announced the GLNG project has started producing its first liquefied natural gas (LNG) on Curtis Island, Queensland, on schedule and within budget. LNG is currently being produced from Train 1 ahead of the first cargo, which is expected to be shipped to Asian markets in the coming weeks. Work on the second train…

Santos today announced a half-year net profit of $37 million after tax, 82 per cent lower than the previous first half, reflecting significantly lower oil prices and a higher exploration expense. The half-year results were also highlighted by improvements in production and significant cost reductions across the business. Strong operational performance – particularly from PNG…

Santos released its 2015 Half Year Results today. View the full presentation below.

View the 2015 Half Year Report incorporating Appendix 4D from the link below.

Chairman to lead strategic review The Santos Board has agreed with Managing Director and Chief Executive Officer, David Knox that after seven years in the role Mr Knox will step down once a successor has been appointed. In light of the continuing pressure on the Santos share price in recent months and approaches from other…

Santos notes the steep decline in its share price on Friday 14 August 2015, and subsequent media speculation that the company is planning to launch an equity raising. Santos confirms that it has no current intention to undertake an equity raising. Santos retains ample liquidity, with over $2 billion in cash and undrawn debt facilities…

Santos Managing Director and Chief Executive Officer, David Knox, today announced a number of executive appointments. Brett Woods, currently General Manager WA & NT, has been appointed Vice President Eastern Australia. Brett will be responsible for production, development and commercialisation of the company’s oil and gas resources in Central Australia and offshore Victoria. “Brett brings…

Second quarter production up 12%, capex down 65%, GLNG on track Santos today announced higher second quarter production and higher sales volumes, as well as significant reductions to both capital and operating expenditure. Second quarter production of 14.3 million barrels of oil equivalent (mmboe) and sales volumes of 15.7 mmboe were 12% and 4% higher…

Presentation by Santos Managing Director and Chief Executive Officer David Knox to the 2015 Macquarie Australia Conference in Sydney on 7 May 2015.

First quarter production up 15%, GLNG first LNG expected around the end of Q3 Santos today announced higher first quarter production, higher sales and significant progress at the GLNG project. First quarter production of 14 million barrels of oil equivalent (mmboe) and sales volumes of 15.2 mmboe were 15% and 10% higher respectively than the…

Santos has released its 2014 Shareholder Review, 2014 Annual Report, 2014 Sustainability Report and its Notice of Annual General Meeting 2015. The 2014 Shareholder Review and 2014 Annual Report detail Santos’ performance and results and outline the company’s outlook and strategy. The 2014 Sustainability Report provides information on Santos’ management approach and sustainability performance. The…

On 20 February 2015 Santos announced a fully franked final dividend of fifteen cents per share would be paid on 25 March 2015 to shareholders on record as at 27 February 2015. It also announced that the DRP would be in operation for this dividend. DRP shares would be issued at the arithmetic average of…