Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Lord & Taylor joined the growing list of U.S. retailers who filed for bankruptcy amid the coronavirus pandemic. Lord & Taylor, one of the oldest department store chains in the U.S., filed for bankruptcy protection in the Eastern Court of Virginia on Sunday. The company operated 38 stores that have remained temporarily closed since March this year due to the pandemic. Thomson International Inc. is recalling Red, Yellow, White, and Sweet Yellow Onions for potential contamination with Salmonella, according to a statement by the U.S. Food and Drug Administration or FDA. The onions are in distribution since May 1, 2020. They were sold to wholesalers, restaurants, and retail stores in all 50 U.S. states, the District of Columbia and Canada. Tyson Foods, Inc. (TSN) reported third quarter adjusted net income per share attributable to company of $1.40 compared to $1.47, a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.94, for the quarter. Analysts' estimates typically exclude...
Follow RTT