Santos to drill in NT

Santos has committed to a $100 million drilling program in the Northern Territory, launching an onshore Mereenie program that will target oil and evaluate natural gas resources over the next year.

Santos said it will commit $100 million to the Mereenie drilling program in the Northern Territory over the next year.

The program is onshore: Santos will drill in the Mereenie area of the Northern Territory.

The Mereenie program is primarily targeting oil while also evaluating natural gas resources as part of the appraisal work.

Santos says the $100 million onshore drilling program at Mereenie will take place over the next year.

Santos has said it would consider a further drilling program if the initial appraisals from the Mereenie program are successful.

Initial appraisals are early evaluations of drilling results that help determine resource size and commercial potential. According to Santos, positive appraisals at Mereenie could trigger consideration of additional drilling.

Everyday investors can watch for updates on drilling progress, appraisal results from the Mereenie wells, and any announcements from Santos about whether successful appraisals will lead to a further drilling program.