Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 May 2015investor presentation● Neutral
Macquarie conference presentation repeating known points: GLNG nearly 95% complete with first LNG around end-Q3 2015 within the US$18.5bn budget, 2015 capex 44% lower, production costs 10% lower. No new figures in the visible text.
6 May 2015drilling progress report● Neutral
Beach's April report is mostly its own wells. In Santos-operated Cooper work, Narie-4, Coonatie-23 and Barrolka-17 were cased as future producers, Swan Lake-13 reached depth, and Barrolka-16 was drilling. Continues the campaigns; no major Santos news.
4 May 2015drilling result▲ Good
Emery-1 in PEL 513 (Santos 60% op, Drillsearch 40%) found about 18.6 m net Patchawarra pay and was cased as a future gas producer. It is the sixth discovery from seven wells in the joint venture campaign; Moonanga South-1 is the last well.
20 Apr 2015investor presentation● Neutral
Presentation for an investor site visit (20-23 April 2015) to Moomba, GLNG Fairview and the LNG tanks. Covers Eastern Australia operations, safety and cost savings. The visible text repeats known themes and gives no new results.
8 Apr 2015drilling progress report▲ Good
Drillsearch's March report: Spinel-1 in PEL 513 (Santos 60% op) found about 11.3 m net Patchawarra pay and will be cased as a gas producer. That makes five discoveries from six wells in the Santos joint venture campaign; Kyanite-1 repeated.
1 Apr 2015drilling progress report● Neutral
Beach's March report is mostly its own wells. In Santos-operated Cooper work, the nine-well Mudera/Marabooka/Strzelecki program finished with all wells cased, and Narie, Coonatie and Barrolka wells progressed. No major Santos news.
26 Mar 2015regulatory community update● Neutral
Santos published its 2014 Sustainability Report covering its operations, environment, community and safety approach. A routine report with no new financial or operational results.
26 Mar 2015annual report● Neutral
Santos published its 2014 Annual Report, restating known results: A$935m net loss after A$1.6bn impairments, A$533m underlying profit, 54.1 mmboe production, 35c dividend. Chairman says GLNG first LNG is on track for 2H 2015. No new information.
26 Mar 2015annual report● Neutral
Santos released its 2014 Shareholder Review, a summary of the annual report with the same results: A$4,037m sales revenue, A$1,843m operating cash flow, A$935m net loss and 35c dividend. No new information.
25 Mar 2015resource reserve update▲ GoodMajor
Santos issued 5.4m DRP shares at A$7.4192 and 14.3m shares to the underwriter at A$7.53. The notice also discloses a significant Bestari-1 oil discovery in Malaysia's Block R, with 67 m net oil pay; Santos acquired 20% in January 2015. Appraisal is being planned.
17 Mar 2015dividend declaration● Neutral
Santos set the DRP issue price at A$7.4192 for the 15c final dividend, being the 10-day average price less the 1.5% discount. Administrative follow-up to the February dividend announcement.
16 Mar 2015drilling result▲ GoodMajor
Kyanite-1 in PEL 513 (Santos 60% op, Drillsearch 40%) was a wet gas discovery with 24.2 m net Patchawarra pay, cased as a future producer near existing infrastructure. It is the fourth discovery from five wells in the campaign; Spinel-1 is next.
11 Mar 2015asset acquisition disposition▲ GoodMajor
New Guinea Energy completed the sale of its 50% of PPL 269 to Santos' subsidiary Barracuda, for US$32m cash on completion plus up to US$8m if retention or development licences are granted. This completes the deal pending since February.
10 Mar 2015drilling progress report▲ Good
Drillsearch's February report: Nulla North-1 (PRL 133, Santos 60% op) was cased as a wet gas discovery with about 4.8 m net pay, resolving the pending test. Kyanite-1 spudded in PEL 513. Stanleys-1 and Bauer wells are Beach-operated, not Santos.
9 Mar 2015contract award▲ GoodMajor
Santos signed a contract to supply 82 PJ of gas from the John Brookes field to Alcoa of Australia, starting 2018, over an initial five years with two five-year extension options by mutual agreement. Adds a domestic WA customer; no contract value is stated.
6 Mar 2015drilling result▼ BadMajor
Hides F1 (Hides Deep) reached 4,633 m but the Koi-Iange Formation exploration target lacked reservoir quality. Santos (24% in the exploration component) will abandon that part; the development section will be completed as a PNG LNG gas producer.
4 Mar 2015drilling progress report● Neutral
Beach's February report is mostly its own wells. In Santos-operated Cooper work, Nephrite South-13, Mudera-19/-21/-22, Correa-2 and Coonatie-24 were cased as future gas producers, and Gaschnitz-2 was cased with fracture stimulation deferred until the joint venture agrees timing. No major Santos news.
3 Mar 2015director officer appointment● NeutralMajor
Chairman Ken Borda will retire at the 30 April 2015 AGM. Peter Coates, a director who was chairman from December 2009 to May 2013, will resume as chairman.
20 Feb 2015investor presentation● Neutral
Santos' full-year results presentation repeats known figures: A$935m net loss, A$533m underlying profit, 54.1 mmboe production. It adds cost-cutting detail: 2015 capex 44% lower, unit production costs down 10%, Cooper rigs cut from 7 to 3, and 520 positions removed to date.
20 Feb 2015annual report● NeutralMajor
Santos reported a 2014 net loss of A$935m after previously advised A$1,563m impairments, but underlying profit rose 6% to A$533m. Final dividend held at 15c (35c for the year), with a DRP underwritten at a 1.5% discount; about A$2.9bn cash and undrawn facilities at year-end.
20 Feb 2015annual report▼ Bad
Santos' audited 2014 accounts show a net loss of A$935m after A$1,563m of impairments, on revenue of A$4,099m. The final dividend is 15c, making 35c for the year, with record date 27 February 2015.
20 Feb 2015resource reserve update▼ BadMajor
Santos' 2P reserves fell 9% to 1,245 mmboe at end-2014 (from 1,368), mainly a 62 mmboe cut in Gunnedah Basin as flagged in November. 1P reserves rose slightly to 622 mmboe; reserves life 23 years. GLNG 2P reserves rose 4%.
18 Feb 2015asset acquisition disposition● Neutral
New Guinea Energy said Papua New Guinea government approval was received for the sale of its 50% of PPL 269 to Santos' subsidiary Barracuda. Consideration is US$32m on completion, plus up to US$8m more if licences are granted. Completion is still to occur.
12 Feb 2015other▼ BadMajor
Santos expects a non-cash impairment of about A$1.6bn after tax in its 2014 accounts due to lower oil prices, including A$482m for Cooper Basin oil and A$566m for Gunnedah Basin. GLNG is not impaired; investment grade rating and debt facilities are not expected to be affected.
10 Feb 2015drilling progress report● Neutral
Drillsearch's January report is mostly its own wells. In PEL 632 (Santos 60% op), Nulla North-1 spudded 27 January and showed multiple wet gas shows, with a drill stem test under way. Aquamarine-1 and earlier results repeated; no confirmed new Santos discovery.
4 Feb 2015drilling progress report● Neutral
Beach's January report is mostly its own wells. In Santos-operated Cooper work, Big Lake-133 and Nephrite South-11 and -12 were cased as gas producers, Kanowana-11 and Mudera-20 were cased, and Gaschnitz-2 reached total depth. No major Santos news.
14 Jan 2015drilling progress report● Neutral
Senex's December report confirms Jenners-1 in PEL 100 (Santos 25.835%) was plugged and abandoned at 2,525 m with poor oil shows, ending Senex's northern campaign without commercial discovery. Repeats the 2 January dry-hole result; nothing new for Santos.
8 Jan 2015drilling progress report● Neutral
Drillsearch's December report is mostly its own wells. It repeats the Yarowinnie South-1 discovery in PEL 513 (Santos 60% op, ~15 m net gas pay, 3,142 m). Aquamarine-1 in PEL 632 (Santos op) was plugged and abandoned as sub-commercial; Nulla North-1 due late January.
7 Jan 2015drilling progress report● Neutral
Beach's December report is mostly its own wells. In Santos-operated Cooper work, Big Lake-123 and -132 and Nephrite South-10 were cased as gas producers, Tennaperra-4 (Santos 70%) was cased as an oil producer, and Gaschnitz-2 kept drilling. No major Santos news.
2 Jan 2015drilling result▼ Bad
Jenners-1 in PEL 100, Cooper Basin was plugged and abandoned at 2,525 m in basement. Santos holds 25.835%, so it is a dry hole for a non-operated exploration well. Resolves the 15 December spud.
