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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Santos Limited    STO   AU000000STO6

SANTOS LIMITED

(STO)
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Santos Raises 2020 Production Guidance

11/30/2020 | 04:25pm EST

By David Winning

SYDNEY--Santos Ltd. raised its annual production guidance and said it was targeting lower costs following a strong operating performance in 2020 so far.

Santos said it now expected to produce between 87 million and 89 million barrels of oil equivalent this year at an average cost of US$8.00 and US$8.50 per barrel. That compared to a prior output goal of 83 million to 88 million BOE.

While the company kept its capital expenditure guidance unchanged at around US$900 million, management said they now expected annual savings from the acquisition of ConocoPhillips' assets in Australia to total US$90 million-US$105 million.

"Our 2020 forecast free cash flow breakeven oil price is less than US$25 per barrel before hedging and around US$20 per barrel after hedging," Chief Executive Kevin Gallagher said.

Santos said it moving toward a final investment decision on the Barossa project offshore Australia, with Darwin LNG approving tolling agreements to transport and process gas from the proposed development through the export facility.

Write to David Winning at david.winning@wsj.com

(END) Dow Jones Newswires

11-30-20 1624ET

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 0.25% 56.05 Delayed Quote.7.08%
SANTOS LIMITED -0.69% 7.16 End-of-day quote.14.19%
WTI -0.19% 52.735 Delayed Quote.8.49%
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More news
Financials (USD)
Sales 2020 3 425 M - -
Net income 2020 -159 M - -
Net Debt 2020 3 162 M - -
P/E ratio 2020 -66,6x
Yield 2020 0,97%
Capitalization 11 506 M 11 548 M -
EV / Sales 2020 4,28x
EV / Sales 2021 3,57x
Nbr of Employees 2 178
Free-Float 84,8%
Chart SANTOS LIMITED
Duration : Period :
Santos Limited Technical Analysis Chart | STO | AU000000STO6 | MarketScreener
Technical analysis trends SANTOS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 5,60 $
Last Close Price 5,52 $
Spread / Highest target 37,2%
Spread / Average Target 1,43%
Spread / Lowest Target -35,6%
EPS Revisions
Managers and Directors
NameTitle
Kevin Thomas Gallagher Chief Executive Officer, MD & Executive Director
Keith William Spence Non-Executive Chairman
David Banks Chief Operating Officer
Anthony Neilson Chief Financial Officer
Hock Goh Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SANTOS LIMITED14.19%11 479
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ROYAL DUTCH SHELL PLC7.40%144 237
TOTAL SE0.14%112 692
PETROCHINA COMPANY LIMITED2.08%110 369
GAZPROM2.08%67 839