Santos Ltd
(ASX:STO) reports that major wet weather and flood conditions have continued to affect gas and liquids production from the Cooper Basin in Central Australia.
CEO David Knox says that while recovery from the flooding was underway with all drilling rings back in full operation, Santos will continue to be impacted for several months.
The energy company says that production has dropped 11% for the June 2010 quarter compared to the same time last year.
Mr Knox says however, that production from the Cooper Basin will continue to increase in the coming months as recovery from the flood events continues.
Santos has maintained production guidance at 49 to 52 million barrels of oil equivalent for 2010.
Santos reported a profit of $434 million for the year ended 30 December 2009.
