Santos posts 5% oil production increase in December quarter
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The news: Santos reported 5% quarterly production increase in the December quarter worth 22.3 million barrels of oil equivalent (mmboe), bringing the full-year production to 87.7 mmboe.
The numbers: Sales volumes rose 15% from the prior quarter to 24.8 mmboe, lifting full-year sales volumes to 93.5 mmboe.
Sales revenue exceeded $1.2 billion for the quarter, up 9% from the prior quarter, taking full-year sales revenue to more than $4.9 billion.
The context: Santos CEO Kevin Gallagher attributed the strong operational performance to the company's execution of major development projects and its commitment to safety, which underpinned results throughout 2025.
The energy producer also raised $1 billion through senior unsecured fixed-rate bond at 5.75%, maturing in November 2023, and accelerated the final repayment to close the PNG LNG project finance facility.
Santos is scheduled to release its full-year 2025 results on 18 February.
What they said: "Santos remains laser focused on executing our strategy in line with our disciplined, low-cost operating model and capital allocation framework," Gallagher said.
"This discipline combined with an all-in free cashflow break-even target of $45 to $50 per barrel, will position Santos over the next few years to deliver sustainable results and provide strong returns for our shareholders."
The source: ASX
