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Santos Limited (ASX:STO)

ALERT: Price-sensitive ASX Announcement for STO
Current share price for STO : $8.280 0.43 (5.48%)+
Announcement
Release
23 Jul 2026 8:31AM
Price at Release
$7.850
Full Release
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Summary
During the second quarter of 2026, Santos Limited reported a 6% increase in sales revenue to $1,349 million, with production reaching 23.1 mmboe. The Barossa project achieved 97% of planned production rates, and Pikka phase 1 is nearing plateau. Realised LNG pricing was strong at $11.21 per mmBtu, with expectations for further increases. Free cash flow amounted to approximately $378 million for the first half, although challenges in commissioning and cargo timing affected financial outcomes. Santos secured a 10-year gas sales agreement with the South Australian Government, supporting capital investment in the Moomba Central Optimisation project.
Key Points
  • Santos' second quarter sales revenue increased by 6% to $1,349 million.
  • A production increase was noted, with 23.1 mmboe for the second quarter.
  • Barossa project is producing at 97% of planned rates.
  • Pikka phase 1 is progressing towards plateau production.
  • Realised LNG pricing was $11.21 per mmBtu, expected to rise in the second half.
  • Free cash flow from operations was approximately $378 million for the first half.
  • Santos executed a 10-year gas sales agreement with the South Australian Government.
  • Challenges included final stages of commissioning and timing of cargo receipts.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.