Santos see strong quarterly production volumes

Company News

by Rachael Jones

Santos (ASX:STO) released their second quarter activities report showing the first half of 2019 had delivered record production volumes and sales revenues, along with strong free cash flow of over $600 million.

First half production of 37 million barrels of oil equivalent was a record for Santos and 32 per cent above the corresponding period.

Santos did see lower average oil-linked LNG and domestic gas prices, and the timing of LNG and liquids shipments.

Two PNG LNG cargoes were on the water at the end of the quarter and liquids cargoes from the Cooper Basin and Western Australia lifted in early July.

Shares in Santos (ASX:STO) closed 0.71 per cent lower yesterday at $7.04.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.