600803:新奥股份:Santos2019年第二季度经营活动报告(英文)
SecondQuarterActivitiesReport
Forperiodending30June2019
ASX:STO|ADR:SSLZY
18July2019
Recordproductionandrevenue
Firsthalfproductionof37mmboewasarecordforSantosand32%abovethecorrespondingperiod.
Salesvolumesof45.2mmboewereup19%andsalesrevenuesup18%to$2billioninthefirsthalf.
Majorgrowthprojectsadvanced
Dorado-2appraisalsuccessconfirmedalargerthananticipatedmajoroilandgasresourceintheBedout
Basin,offshoreWesternAustralia,significantlyde-riskingafuturedevelopment.Santosnowexpectsto
bookasignificantresourceupgradeaboveitscurrentlybooked2CresourceforDorado.
PNGLNGexpansionadvancedbythesigningofabindingletterofintenttoacquirea14.3%interest(pre-
governmentback-in)inPRL3whichcontainstheP’nyangnaturalgasfield.
TheBarossaprojectenteredexclusivenegotiationswiththeDarwinLNGJointVentureforthesupplyof
backfillgastoDarwinLNGandalsoawardedthesubseaproductionsystemcontractaheadofaplanned
FIDbyearly2020.
Onshoregrowth
Higherquarterlyandyear-to-dateproductioninboththeCooperBasinandGLNG.
Arecord102wellsweredrilledinGLNGduringthequarter(100%successrate)and25wellsdrilledinthe
CooperBasin(80%successrate)includingfastesteverCoopertotalwellexecutionof4.3days.
Strongfreecashflow
Santosgenerated$300millioninfreecashflowinthesecondquarter,bringingtotalfreecashflowforthe
firsthalftoover$600million.
Strongfreecashflowsreducednetdebtby$0.3billioninthesecondquarterto$3.1billion(excludingthe
impactofthenewAASB16Leasesstandard).
SantosManagingDirectorandChiefExecutiveOfficerKevinGallaghersaidthefirsthalfof2019haddeliveredrecord
productionvolumesandsalesrevenues,alongwithstrongfreecashflowofover$600million.
“Ourdisciplinedoperatingmodelandapproachtocapitalallocationhasdeliveredastrongfirsthalfresultandthe
successfulintegrationofourWesternAustralianbusinesshasexceededexpectations.”
“Santoshasnowdeliveredpositivefreecashflowforthirteenconsecutivequarters.”
“Thesecashflowsunderpinourbrownfieldgrowthstrategywherewehitanumberofsignificantmilestonesduringthe
quarter,includingfarming-intoP’nyangandawardingthesubseacontractforBarossa.”
“FollowingsuccessfulappraisalofDoradoandMoombaSouth,weexpecttobooksignificantresourceandreserve
upgradesrespectivelyfortheseassets.”
“Wearealsohittingrecorddrillingratesintheonshorebusinessandcompletedtwoappraisalwellsforourcarbon
capture,utilisationandstorageprojectintheCooperBasin.”
“SecondquarterproductionwashoweverimpactedbyplannedmaintenanceintheCooperBasinandPNGLNG.”
“Withthismaintenanceactivitynowmostlybehindus,wecurrentlyexpectstrongerproductioninthesecondhalf,”
MrGallaghersaid.
Comparativeperformance
Santosshare Units Q22019 Q12019 Change 2019YTD 2018YTD Change
Production mmboe 18.6 18.4 1% 37.0 28.0 32%
Salesvolume mmboe 22.4 22.8 -2% 45.2 38.0 19%
Ave.realisedoilprice $/bbl 75.26 68.90 9% 72.11 75.37 -4%
Salesrevenue $million 959 1,015 -5% 1,974 1,680 18%
Capitalexpenditure1 $million 270 177 53% 447 306 46%
1Capitalexpenditureincludingrestorationexpenditureandacquisitionofexplorationassetsbutexcludingcapitalisedinterest.
Mediaenquiries Investorenquiries SantosLimitedABN80007550923
DanielaRitorto AndrewNairn GPOBox2455,AdelaideSA5001
+61881165167/+61(0)455319770 +61881165314/+61(0)437166497 T+61881165000F+61881165131
daniela.ritorto@santos.com andrew.nairn@santos.com www.santos.com
Salesvolumes(Santosshare)
Product Unit Q22019 Q12019 Q22018 2019YTD 2018YTD
LNG 000t 714.6 768.0 630.8 1,482.6 1,273.2
Domesticsalesgasðane PJ 64.3 65.5 52.6 129.8 106.2
Crudeoil 000bbls 2,666.2 2,897.6 2,863.9 5,563.9 5,297.8
Condensate 000bbls 1,261.7 1,298.7 811.6 2,560.3 1,889.6
LPG 000t 77.8 17.0 43.8 94.7 65.3
Sales
Ownproduct mmboe 17.9 17.4 13.5 35.3 27.3
Third-party mmboe 4.5 5.4 5.6
