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Santos Q3 Production Rises; Backs FY Production Guidance

Oil and gas producer Santos Ltd. (STOSF.PK,SSLTY.PK,STO.AX) reported that its third quarter production rose 32 percent to 19.8 million barrels of oil equivalent from the corresponding quarter.

Production was 7% higher than the second quarter with higher production from all Australian assets.

Sales volumes were 25.2 million barrels of oil equivalent, up 25% from the prior year.

Sales revenue of US$1.030 billion was the second highest quarterly revenue on record, the company said.

Santos maintained full-year sales volumes guidance at 90 million barrels of oil equivalent - 97 million barrels of oil equivalent. Production guidance is also unchanged at 73 million barrels of oil equivalent -77 million barrels of oil equivalent.

On 14 October, Santos announced the acquisition of ConocoPhillips' interests in Northern Australia for US$1.39 billion plus a contingent $75 million on Barossa FID.

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