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 has been advised by ExxonMobil, the PNG LNG operator, that LNG train 2 has safely restarted and the plant is operating at normal production rates. Exports of LNG have also resumed. Production has been gradually increasing since the Hides gas conditioning plant and one train at the PNG LNG plant restarted earlier this month.…
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 has been advised by ExxonMobil, the PNG LNG operator, that production of liquefied natural gas (LNG) has safely resumed following a temporary shutdown of operations after the severe earthquake in the region on 26 February. LNG exports are expected to resume soon. Santos Managing Director and Chief Executive Officer Kevin Gallagher said, “The safe…
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.
Santos has been advised by the PNG LNG operator that following the earthquakes in the Southern Highlands and Hela Provinces during the week of 26 February 2018, preliminary assessments of damage to PNG LNG facilities indicate it may take approximately eight weeks to complete repairs and restore production. Santos has a 13.5% interest in PNG…
Santos will donate US$200,000 to aid agencies in PNG to help get urgently-needed food, water and medical supplies to more than 30,000 people isolated in small villages in the PNG Southern Highlands and Hela Provinces following last Monday’s earthquake. Santos Managing Director and Chief Executive Officer Mr Kevin Gallagher said, “Santos is deeply saddened by…
Santos today advises that gas production at the PNG LNG Hides plant and the Kutubu gas facilities has been safely shut down as a precautionary measure following a major earthquake and a series of aftershocks in the Papua New Guinea highlands. The company has been advised by PNG LNG operator ExxonMobil PNG that no staff…
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.
Santos has today released its 2017 Annual Report. See below link.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said: “In 2017, our turnaround strategy to deliver a low-cost, reliable and high performance business progressed ahead of expectations. Santos is now a stronger, more resilient company with the capacity to execute and bring on-line growth opportunities across its core long-life natural gas assets. “In 2017,…
Santostoday announced it will acquire a 20 per cent equity in the PPL 339 licence in Papua New Guinea via a farm-in agreement with Kina Petroleum Limited. The license is located within the Aure Fold Belt, southeast of the Elk/Antelope fields in an area with active natural seeps and represents Santos’ first entry into this…
Accident and emergency health services at the Hela Provincial Hospital have been boosted with US$1M funding from Santos Limited and US$700,000 from Oil Search Foundation provided to the Hela Provincial Health Authority (PHA). A ground breaking ceremony was held in Tari to mark the construction of a high priority Accident and Emergency (A&E) Department for…
In response to media speculation today, Santos confirms that it is not currently engaged in discussions with, and has not received a current proposal from, Harbour Energy regarding a change of control transaction for Santos. On 14 August 2017 Santos received a confidential, non-binding conditional and indicative proposal from Harbour Energy to acquire all the…
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…
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