Santos first half sales rise 16% | Finance News Network

Santos first half sales rise 16%

Company News

by Anna Napoli

Santos (ASX:STO) has announced an 8 per cent lift in Cooper Basin gas production and a 17 per cent rise in oil production compared to the prior quarter.

The oil and gas company says the increases reflect strong performance from recently connected wells more than offsetting the impact of a higher level of planned maintenance at Moomba.

First half sales revenue rose 16 per cent to US$1.7 billion due to stronger commodity prices and higher oil sales.

Sales volumes, production and production cost guidance for 2018 is maintained.

Shares in Santos (ASX:STO) are trading up 0.17 per cent to $5.97.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.