Santos Limited
(ASX:STO) has released its activities report for the second quarter, with the oil and gas producer’s production rising 9 per cent.
Sales revenue gained 18 per cent to $739 million in the June quarter, driven by higher oil and gas prices as well as increasing sales volumes.
Crude oil production hit its highest level in four years, lifting 46 per cent to 2.4 million barrels.
Gas production rose 4 per cent on the back of production from new assets in Western Australia.
In the first half of its 2012 financial year Santos generated a net profit of $751 million.
