NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES This announcement has been prepared for publication in Australia and may not be released or distributed in the United States. This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any security or financial product and neither this announcement nor anything…
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES This announcement has been prepared for publication in Australia and may not be released or distributed in the United States. This announcement does not constitute an offer, invitation or recommendation to subscribe for or purchase any security or financial product and neither this announcement nor anything…
Santos today outlined its new strategy to drive sustainable shareholder value by becoming a low-cost, reliable and high performance business. Speaking at the company’s Investor Day in Sydney, Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos will implement a disciplined, three-phase strategy to drive shareholder value. Transform: Simplify the business to focus…
Santos today announced that it had signed an agreement to farm-in for a 20% interest in Petroleum Prospecting Licence (PPL) 402 in Papua New Guinea. The interest will be acquired from both Oil Search and ExxonMobil. PPL 402 is located approximately 40 kilometres northwest of the Hides gas field and production facilities, and within the…
Santos is aware of market speculation that 40 million shares representing 2.25% of the company’s issued capital were acquired at a price of $3.98 by Hony Capital after market close on 10 November 2016. Santos has made enquiries with Hony Capital this morning who have confirmed that they were successful in acquiring an additional 40…
Santos today announced the sale of its Victorian assets to Cooper Energy for cash consideration of up to A$82 million. The sale will result in Santos exiting from offshore Victoria. In March 2016, Santos completed the sale of its interest in the Kipper gas field for A$520 million. The assets sold to Cooper Energy include:…
Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos continues to focus on driving down costs and applying available cash flow to reduce debt. “We are taking the right steps to ensure Santos becomes a strong and sustainable business, and that mindset guides our decision making as we continue to reduce costs and…
Santos has released the 2016 first-half shareholder update.
To view this document please click on the link below.
Santos is pleased to announce the appointment of Mr Anthony Neilson as its new Chief Financial Officer. Mr Neilson is a Chartered Accountant with significant experience in the oil and gas sector within the United Kingdom, China, South East Asia and Australia. He is currently the Chief Executive Officer of Roc Oil Company Limited (ROC),…
Santos released its 2016 Half Year Results today. View the full presentation below.
Santos today announced a 2016 first half net loss of US$1,104 million, impacted significantly by the previously announced impairment charge for GLNG of US$1,050 million after tax and lower oil prices. Excluding impairments and other one-off items, the company recorded an underlying net loss of US$5 million after tax for the first half. Managing Director…
View the 2016 Half Year Report incorporating Appendix 4D from the link below.
Following a review of key production assets, Santos advises that it expects to recognise an impairment charge against the carrying value for GLNG of approximately US$1,050 million after tax (approximately US$1,500 million before tax) in its 2016 half-year accounts. The impairment outcome is subject to finalisation of the half-year accounts, which will be released on…
Santos Managing Director and Chief Executive Officer Kevin Gallagher said the company’s commitment to lifting productivity and cutting costs was starting to deliver tangible results. “There is a lot of work ahead of us but today’s results show we are heading in the right direction. “The second quarter also saw first LNG from GLNG train…
Santos announced today that Chief Financial Officer Andrew Seaton will retire from the company by the end of 2016 following over eleven years of service, including the last six as CFO. Santos Managing Director and Chief Executive Officer Kevin Gallagher paid tribute to Mr Seaton as a key member of the executive team. “Andrew has…
Santos will change its reporting currency from Australian dollars to US dollars, commencing with the 2016 interim result. This reflects the change in the group’s revenue mix, which is now predominantly US dollar denominated with PNG LNG and GLNG in production. Reporting in US dollars will also enhance comparability with Santos’ industry peer group, the…
Santos announced on 13 April 2016 that Peter Hearl and Guy Cowan would be appointed to the Santos Board as independent non-executive directors shortly after the 2016 Annual General Meeting. Santos advises that Mr Hearl and Mr Cowan were appointed to the Board on 10 May 2016. Mr Cowan has been appointed Chair of the…
Santos Chairman Mr Peter Coates and Managing Director & CEO Mr Kevin Gallagher address the 2016 Santos AGM in Adelaide.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said the company’s first quarter results reflect solid production and a firm commitment to drive costs down and improve efficiencies across the business. “We are focused on developing a business that is self-sustaining in a low oil price environment and well positioned to take full advantage…
Santos Chairman, Peter Coates, today announced that Peter Hearl and Guy Cowan will be appointed to the Santos Board as independent non-executive directors shortly after the 2016 Annual General Meeting (AGM). Mr Coates said that the appointments of Mr Hearl and Mr Cowan, following the retirements of Ken Dean and Jane Hemstritch at the conclusion…
Santos notes the ENN Group’s announcement in relation to the proposed acquisition of Hony Capital’s 11.7% shareholding in Santos, subject to certain conditions, including the ENN Group’s shareholder approval. As part of the transaction Hony Capital will become a strategic investor in the ENN Group through a private placement. The ENN Group is a large…
On 19 February 2016 Santos announced a fully franked final dividend of five cents per share would be paid on 30 March 2016 to shareholders on record as at 26 February 2016. It also announced that the DRP would be in operation for this dividend. DRP shares would be issued at the arithmetic average of…
On Thursday 3 March 2016, Santos received a notice requesting a resolution for consideration at the Company’s Annual General Meeting on 4 May 2016. Of the 104 signatories, 98 have been verified as shareholders, representing approximately 0.019% of the Company’s shares on issue. A copy of the notice is attached. Santos advises that it will…
Santos announced in November 2015 the sale of its 35% non-operated interest in the Kipper gas field, located in the Gippsland Basin, offshore Victoria to Mitsui E&P Australia Pty Ltd (Mitsui) for $520 million in cash.
Santos advises that the sale has been completed and it has received the sale proceeds from Mitsui.
Ends.
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…
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