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…
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…
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