Gas producer Santos (ASX:STO) reports that its net profit after tax soared from last year's US$360 million loss to US$630 million for the full year 2018.
This was above Citi's analyst expectation of $565 million.
Underlying profit rose to a record $727 million from $318 million a year earlier.
EBITDAX is up 51 per cent to a record US$2.2 billion and free cash flow up 63 per cent to a record of more than US$1 billion.
This was helped by the acquisition of Quadrant assets and higher realised prices for its oil and gas.
The Adelaide-based company declared a final dividend of 6.2 US cents a share fully franked.
Shares in Santos (ASX:STO) are trading 0.07 per cent lower to $6.94.