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…
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,…
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 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…
2001 Annual Report
Santos Limited today announced an after-taxprofit for the 2001 full year of $446 million or 73 cents per share, the second highest earnings in the Company’s history.
The strong result reflected close-to-record production of 55.7 million barrels of oil equivalent (boe) and a close-to-record realised Australian dollar oil price of $45.53 per barrel.
Second Highest Profit On Record Santos Limited (ASX: STO, NASDAQ: STOSY) today announced an after-tax profit for the 2001 full year of $446 million or 73 cents per share, the second highest earnings in the Company’s history. The strong result reflected close-to-record production of 55.7 million barrels of oil equivalent (boe) and a close-to-record realised…
The fourth quarter produced some pleasing results. Total production was 14.5 million barrels of oil equivalent (boe), 8% higher than the 2000 fourth quarter. Total sales volumes were 14.2 million boe, an increase of 5% (reflecting increased sales of gas and liquids). Total Quarterly sales revenue was $333m. This was a good result, given that…
Santos Limited today announced that the reserves review and reclassification, announced in March 2001, is effectively complete. As a result of the review Santos will, for the first time, be able to break its reserves into Proved, Probable and Possible categories and be able to measure Contingent Resources, in line with international reporting standards. Commenting,…
Santos Ltd. confirms that, as of 1 January 2002, the Group is not party to the new Heads of Agreement for the PNG Gas Project. Santos has been unable to reach agreement with the Project Operator, ExxonMobil on new commercial terms governing interaction between the participants, which are contained in the new Agreement. Santos Managing…
Santos Ltd. (ASX: STO, NASDAQ: STOSY) today announced that Santos USA Corp, has completed and tested its Runnells-7 well in the deep geopressured Frio Trend in Matagorda County, Texas. The Runnells-7 well was production tested at an unstimulated daily flow rate of 623,000 cubic meters per day (22 million cubic feet) of natural gas, and…
Santos Ltd Managing Director Mr. John Ellice-Flint today announced a new organisation structure for the Company, based around the three drivers of shareholder value in the oil and gas business: volume, growth and cost. The structure also clearly reflects the geology of the Company’s interests and the location of its customers. Mr. Ellice-Flint said, “We…
Santos advises that Dr Ashok Khurana has announced that he will retire from the Company effective 19th December 2001.
On behalf of the Board, Santos’ Managing Director, Mr John Ellice-Flint, said he would like to record the Company’s appreciation for the contribution Dr Khurana has made during his time at Santos.
JOHN ELLICE-FLINT
Managing Director
Santos Limited today announced that it has set the dividend rate for the issue of Preference Shares at 6.57% per annum, which will be fixed until 30 September 2006. As outlined in the prospectus dated 24 October 2001, the dividend rate has been set as the greater of 6.50% per annum, or the swap rate…
On 17 October 2001 Santos Limited announced a major capital management initiative comprising an off-market share buy-back of up to $250 million and an issue of a minimum of $250 million of Reset Convertible Preference Shares, with provision for total subscriptions of up to $350 million. Santos today announced allocation details for the issue of…
Santos Ltd. announces a new field discovery by Santos USA in the prolific Frio trend of South Texas, continuing Santos’ record of successes in the trend this year. Henderson-1, located in Willacy County, was drilled to a total depth of 15,355 feet. It encountered multiple pay horizons logging 169 feet of net gas pay. The…
Santos Ltd. (ASX: STO, NASDAQ: STOSY) announces a further step in repositioning the Santos Group’s North American efforts to focus on the onshore Texas Gulf Coast. Santos USA Corp, a wholly owned subsidiary, has acquired from a number of parties, the following interests for total consideration of US$28.5 million: an additional 33% working interest in…
The Runnells 7 appraisal well logged 35 metres (115 feet) of net Frio gas sand. The well, located in Matagorda County, Texas, is a continuation of the Grand Slam field delineation. Runnells 7 is currently at the original target depth of 4,450 metres (14,600 feet). The working interest owners have agreed to drill the well…
Santos is pleased to announce the appointment of Mr Einar Vikingur to the position of Chief Information Officer. Einar has a wide range of experience in managing information systems, business process improvements and e-Business and is skilled in the areas of leadership and general management. At Santos Einar will be responsible for the company’s information…
Santos Ltd, as Operator of the Sampang PSC, announces that the Oyong-3 appraisal well has penetrated a gross oil column of approximately 19 metres in good quality reservoir. Oyong-3 is located approximately 2 kilometres east of Oyong-1 on the eastern flank of the structure, in 41.3 metres of water. It reached a planned total depth…
On 17 October 2001, Santos Limited (“Santos”) announced its intention to undertake an off-market share buy-back of up to $250 million and to issue a minimum of $250 million, and up to $350 million, in Reset Convertible Preference Shares (“Preference Shares”). The issue of Preference Shares is subject to approval by Santos shareholders at an…
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