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SANTOS LIMITED

(STO)
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Delayed Australian Stock Exchange  -  05/23 10:15:32 pm EDT
8.200 AUD   +0.24%
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Santos Achieves Record Annual Output, Boosted by Oil Search Assets

01/19/2022 | 05:11pm EDT

By David Winning

SYDNEY--Santos Ltd. reported record production of oil and natural gas in 2021, aided by a first contribution from assets acquired through its takeover of Oil Search Ltd.

Santos reported production of 92.1 million barrels of oil equivalent for the 12 months through December. This included 1.7 million BOE from Oil Search assets from December 11, which represented the day after the takeover became effective.

Annual sales revenue of US$4.7 billion was 39% higher than revenue achieved in 2020, Santos said. It was boosted by record quarterly revenue of US$1.5 billion in the final three months of the year.

Santos said it expected free cash flow of around US$1.5 billion in 2021, more than double the level in 2020.

"Consistent with our strategy, our next stage of growth will be disciplined and phased," said Chief Executive Kevin Gallagher.

He said the Barossa natural-gas project offshore northern Australia is 20% complete, and progressing on schedule and on budget. Santos is targeting a final investment decision on the first phase of the Dorado oil project in Australia around the middle of 2022, with a decision on the Pikka Phase 1 project in Alaska due to happen in the first half of the year.


Write to David Winning at david.winning@wsj.com


(END) Dow Jones Newswires

01-19-22 1711ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) -0.12% 0.56309 Delayed Quote.5.32%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) -0.01% 0.622212 Delayed Quote.6.69%
EURO / BRITISH POUND (EUR/GBP) -0.03% 0.84971 Delayed Quote.0.61%
INDIAN RUPEE / BRITISH POUND (INR/GBP) 0.25% 0.010274 Delayed Quote.3.54%
LONDON BRENT OIL -0.25% 112.52 Delayed Quote.44.68%
OIL AND NATURAL GAS CORPORATION LIMITED -4.20% 155.1 Delayed Quote.13.69%
OIL SEARCH -2.42% 4.04 End-of-day quote.0.00%
ON SEMICONDUCTOR CORPORATION -1.01% 55.89 Delayed Quote.-17.71%
S&P GSCI NATURAL GAS INDEX 0.17% 413.9901 Real-time Quote.119.25%
SANTOS LIMITED 0.24% 8.2 Delayed Quote.28.05%
US DOLLAR / BRITISH POUND (USD/GBP) 0.14% 0.796838 Delayed Quote.8.21%
WTI -0.25% 109.447 Delayed Quote.44.84%
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Analyst Recommendations on SANTOS LIMITED
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Financials (USD)
Sales 2022 8 199 M - -
Net income 2022 2 698 M - -
Net Debt 2022 3 622 M - -
P/E ratio 2022 6,44x
Yield 2022 4,24%
Capitalization 19 556 M 19 556 M -
EV / Sales 2022 2,83x
EV / Sales 2023 3,21x
Nbr of Employees 3 786
Free-Float 92,3%
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Technical analysis trends SANTOS LIMITED
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TrendsNeutralBullishBullish
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 16
Last Close Price 5,81 $
Average target price 6,99 $
Spread / Average Target 20,2%
EPS Revisions
Managers and Directors
Kevin Thomas Gallagher Chief Executive Officer, MD & Executive Director
Anthea Mckinnell Chief Financial Officer
Keith William Spence Non-Executive Chairman
David Banks Chief Operating Officer
Hock Goh Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
SANTOS LIMITED28.05%19 096
SAUDI ARABIAN OIL COMPANY21.06%2 298 105
SHELL PLC44.07%217 665
TOTALENERGIES SE15.86%140 800
PETROCHINA COMPANY LIMITED12.68%136 799
EQUINOR ASA42.69%110 709