Santos completes Bayu Undan program under budget and ahead of schedule

Company News

by Anna Napoli

Santos (ASX:STO) has today announced the completion of its Bayu Undan infill program under budget and ahead of schedule.

The oil and gas company holds a 11.5 per cent interest in the gas project which is located in the Timor Sea.

CEO, Kevin Gallagher says the campaign has been very successful, providing strong subsurface results with the execution about 40 per cent below budget.

 Due to the success of the drilling program Santos has delivered higher liquids production and increased offshore capacity.

And investors like the news, shares in Santos (ASX:STO) are trading 5.8 per cent higher to $5.84.

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.