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.