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

SANTOS LIMITED

(STO)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 03/30
3.38 AUD   -0.88%
03/27Global oil, gas producers cut spending after crude price crash
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03/25SANTOS : COVID-19 Coronavirus update
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03/25Global oil, gas producers cut spending after crude price crash
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News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Santos Annual Profit Rises 7% -- Update

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02/19/2020 | 05:34pm EDT

By David Winning

SYDNEY--Santos Ltd. said its annual net profit rose by 7% as stronger production from its oil and gas fields more than offset a weaker realized oil price and a step-up in capital expenditure.

Santos reported a net profit of US$674 million for the 12 months through December, up from US$630 million a year earlier. Directors of the company declared a final dividend of 5.0 U.S. cents a share, bringing its full-year payout to 11 cents, up 13% on 2018.

Over the year, sales revenue climbed 10% to US$4.03 billion on the back of a 28% rise in production to 75.5 million barrels of oil equivalent. That was more than enough to offset the impact of a 4% annual drop in the average realized oil price to US$71.99 per barrel.

Santos achieved free cash flow of US$1.1 billion, which it said was a record for any year.

"The year was highlighted by record onshore drilling performance, lower unit costs, successful integration of the Quadrant acquisition and significant progress on our diversified portfolio of growth projects," Chief Executive Kevin Gallagher said.

In December, Santos lifted medium-term forecasts for its production as it prepares to integrate roughly US$1.4 billion in assets it has agreed to buy from ConocoPhillips (COP). Those assets include the U.S. company's operations in northern Australia and East Timor, including a controlling stake in the Darwin LNG gas-export project in which Santos already is a partner.

"The acquisition is expected to complete around the end of the first quarter of 2020, subject to third-party consents and regulatory approvals," Mr. Gallagher said.

Completion of the transaction will enable Santos to make a final investment decision on the Barossa project, which will provide gas for the active Darwin LNG project. It expects to make that decision in the second quarter of 2020.

"We are also targeting a front-end engineering and design-entry decision on the exciting Dorado liquids project in the second quarter," Mr. Gallagher said.

Santos said in December that it now expects production to jump to 120 million barrels of oil equivalent by 2025. It had previously targeted a lift in output to 100 million barrels over that period.

 

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

 

Stocks mentioned in the article
ChangeLast1st jan.
CONOCOPHILLIPS 0.15% 29.17 Delayed Quote.-55.02%
LONDON BRENT OIL -3.75% 22.66 Delayed Quote.-59.21%
SANTOS LIMITED -0.88% 3.38 End-of-day quote.-58.31%
WTI -0.93% 20.205 Delayed Quote.-60.50%
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More news
Financials (USD)
Sales 2020 3 392 M
EBIT 2020 790 M
Net income 2020 376 M
Debt 2020 3 404 M
Yield 2020 2,49%
P/E ratio 2020 17,2x
P/E ratio 2021 13,8x
EV / Sales2020 3,08x
EV / Sales2021 2,78x
Capitalization 7 041 M
Chart SANTOS LIMITED
Duration : Period :
Santos Limited Technical Analysis Chart | STO | AU000000STO6 | MarketScreener
Technical analysis trends SANTOS LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 4,01  $
Last Close Price 3,38  $
Spread / Highest target 91,8%
Spread / Average Target 18,5%
Spread / Lowest Target -34,6%
EPS Revisions
Managers
NameTitle
Kevin Thomas Gallagher Chief Executive Officer, Director & MD
Keith William Spence Non-Executive Chairman
Vince Santostefano Chief Operations Officer-Operations Services
Anthony Neilson Chief Financial Officer
Hock Goh Independent Non-Executive Director
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PETROCHINA COMPANY LIMITED1.66%115 105
TOTAL-34.45%92 011
GAZPROM PAO--.--%50 244
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