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

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.

Significant progress on the Santos turnaround: Record production and sales volumes, free cash flow breakeven US$36.50 per barrel and net debt reduced to US$3.5 billion. Underlying profit US$63 million. Net loss of US$1,047 million including US$1.1 billion GLNG after-tax impairment recorded at half-year. Managing Director and Chief Executive Officer Kevin Gallagher said: “In 2016, the…

Appendix 4EFinancial year ended 31 December 2016This information should be read in conjunction with Santos Limited’s 2016 Annual Report(which includes the 2016 Financial Report).

Santos today release the 2016 Annual Report. Click the link below to download.

Last night the Santos Board hosted the company’s 13th EHS Directors Awards, an annual event that celebrates the very best in safety and environmental performance at Santos. The awards recognise safety and environmental excellence across six categories, with team awards for Innovation, Efficiency, Environment and Safety, and individual awards for the Environment Leader of the…

Santos today announced modifications to its segment reporting structure, effective second half 2016. The revised segment structure will be reported in the 31 December 2016 financial report, to be released on 17 February 2017 and comparative disclosures will be restated. In accordance with AASB 8 Operating Segments and Santos’ new strategy announced on 8 December…

Santos today announced the completion of its Share Purchase Plan (“SPP”). The SPP gave retail shareholders the opportunity to participate in Santos’ turnaround strategy following the successful completion of the Institutional Placement in December 2016. The SPP closed at 5.00pm (AEDT) on Tuesday 31 January 2017. Applications for approximately A$201 million of new fully paid…

Santos Managing Director and Chief Executive Officer Kevin Gallagher said: “2016 was a year of significant change for Santos and we can be proud of what was achieved.” “We restructured the business, removed substantial costs and generated free cash flow for the first time in many years. Our production cost per barrel has reduced, and…

Santos is pleased to offer eligible shareholders(1) an opportunity to acquire additional Santos shares under a Share Purchase Plan Offer (SPP Offer). The intention to launch the SPP Offer was announced at the time of Santos’ recent institutional placement which was conducted to strengthen the company’s balance sheet and provide Santos with the financial flexibility…

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 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…