Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
20 Aug 2014security holder rights change● Neutral
Santos amended its dividend reinvestment plan rules to reflect ASX Listing Rule changes that took effect in April 2014. This is an administrative update with no new financial terms stated in the text shown.
12 Aug 2014asset acquisition disposition● Neutral
New Guinea Energy says initial conditions are met for selling its 50% of PNG licence PPL 269 to Santos' subsidiary for up to US$40m, with US$32m on completion. PNG government approvals remain outstanding, due by 13 August 2015, so the deal is not yet complete.
6 Aug 2014drilling progress report● Neutral
Beach's July report is mostly about its own wells. In Santos-operated Cooper work, Big Lake-117 and -118, Moolion-7, Hera-3 and -4 were cased as gas wells, and Cook-28 and Cook-29 as oil wells. No new result of significance for Santos.
31 July 2014farm in farm out agreement● NeutralMajor
Central says Santos will proceed to Stage 2 of the Southern Amadeus farm-in, earning a 40% interest (up from 25%) by funding about 1,300 km of 2D seismic (~A$12m). Pedirka Basin is dropped. Santos decides on further Mt Kitty testing around end-August.
11 July 2014production update▲ GoodMajor
First oil has flowed from the Dua subsea tie-back at Chim Sáo in Vietnam, sanctioned August 2012, at an estimated gross 8,000 barrels a day for 12 months. Santos holds 31.875%. This delivers the mid-2014 first oil expected earlier.
2 July 2014drilling progress report● Neutral
Beach's June report is mostly about its own wells. In Santos-operated Cooper work, Big Lake-116 and Hera-3 were cased as future gas producers, Cook-29 and Gashnitz-4 kept drilling, and Cocinero-style oil work continues. No new result of significance for Santos.
24 June 2014investor presentation● Neutral
A GLNG investor-visit presentation says the project is on track for first LNG in 2015 at an unchanged US$18.5bn. Over 560 wells are drilled, all 82 Train 1 modules are set, and the pipeline is in the ground. Largely repeats known progress.
19 June 2014joint venture update▼ BadMajor
Santos (40%) and operator GDF SUEZ (60%) will not take the Bonaparte floating LNG project into FEED, as it does not currently meet their commercial requirements. They will study other options, including a pipeline to Darwin. This reverses the earlier expected FEED entry.
4 June 2014drilling progress report● Neutral
Beach's May report mostly covers its own wells. In Santos-operated Cooper work, Big Lake-105, -109, -110 and -115, Moorari-13 and -14 and Vega-4 were cased as gas wells, and Gaschnitz-4 is drilling. Cocinero-1 (Santos 55%) was cased as an oil well.
2 June 2014joint venture update● Neutral
Partner Cott reports a concept study judging floating LNG for the Pandora gas field (PRL 38, 2C resource ~800 bcf) technically and commercially feasible. Santos holds 10% of the licence. It is a concept study only, with no commitment to develop.
26 May 2014production update▲ GoodMajor
The first PNG LNG cargo has shipped, bound for Japan, with the second train also now producing. Santos (13.5%) says this starts its transformational growth, following first LNG production announced on 29 April.
8 May 2014drilling result● Neutral
Central says early gas analyses from Santos-operated Mt Kitty-1 were inconsistent; its best sample was 61% nitrogen, 13% methane, 11% hydrogen and 9% helium, possibly contaminated. Santos will return with an alternate rig; results are unlikely before end-June. This tempers the earlier 5.8% helium reading.
7 May 2014drilling progress report● Neutral
Beach's April report is mostly about its own wells. In Santos-operated Cooper work, Big Lake-103, -104, -107 and -108 plus Gooranie-5 and Brolga-5 were cased as gas wells, with Big Lake-105 and -109 drilling. No new result of significance for Santos.
29 Apr 2014production update▲ GoodMajor
PNG LNG began producing LNG ahead of schedule, with the first cargo expected before mid-year and the second train due to start within weeks. Santos holds 13.5% of the US$19bn project, which it says will quadruple its LNG production at full output.
15 Apr 2014drilling result▲ GoodMajor
Santos' Mt Kitty-1 in the Amadeus Basin (Santos 70%, Central 30%) reached 2,295 m and flowed gas on test, up to ~530,000 cfd, with helium up to 5.8%. A rig incident on 13 April stopped operations; no injuries reported and the well is secure.
11 Apr 2014annual report● Neutral
The 2013 Shareholder Review repeats previously released results: sales revenue A$3,602m, net profit A$516m, 51 mmboe production, 30c dividend and the progressive dividend policy. It says operating cash flow should double by 2016, based on current oil prices.
11 Apr 2014annual report● Neutral
Santos released its 2013 Sustainability Report, with a CEO message and asset overview. Text provided shows no new financial or operational figures, so it adds no new substance.
11 Apr 2014annual report● Neutral
Santos lodged its 2013 Annual Report, covering results and reserves already released on 21 February (net profit A$516m, 2P reserves 1,368 mmboe). The extract provided shows only contents and glossary, with no new figures.
3 Apr 2014drilling progress report▲ Good
Drillsearch's March report says the three-well Tintaburra/Toobunyah campaign in Santos-operated PL 29 (Santos 60%) is finished, with all wells cased and suspended. The rest, including the Stunsail-1 discovery, concerns Beach- and Drillsearch-operated wells.
2 Apr 2014drilling progress report● Neutral
Beach's March report is mostly about its own wells, including the Stunsail-1 oil discovery with Drillsearch. In Santos-operated Cooper work, Big Lake-101, -102, -103 and -106 and Gooranie-6 and Baryulah-18 were cased as gas wells, continuing the Big Lake pad programme.
27 Mar 2014material agreement▲ GoodMajor
GLNG participants signed a binding heads of agreement with the Meridian SeamGas JV for 20 years of gas from 2015, oil-linked priced from 2016. This adds to GLNG's gas supply; the project is approaching 80% complete, with first LNG still due in 2015.
24 Mar 2014production update▲ GoodMajor
First gas flowed from the Peluang tie-back to Maleo, offshore East Java, ahead of schedule and on budget, as flagged for 1H 2014. Gross peak output is expected at 25 mmscf/d. Santos holds 67.5% and operates the Madura PSC.
20 Mar 2014drilling progress report● Neutral
Central Petroleum says the Santos-operated rig has mobilised and should resume drilling at Mt Kitty-1 in the Amadeus Basin around 24 March 2014. Planned depth is about 2,030 m KB; the top hole was drilled to ~785 m. This follows the earlier Q1 target.
19 Mar 2014dividend declaration● Neutral
Santos set the dividend reinvestment plan issue price at $13.3611 for the 15c final dividend payable 26 March 2014, which follows the 21 February results. Administrative notice only.
14 Mar 2014joint venture update● Neutral
Beach's Cooper unconventional update: Roswell-2 in the Santos-operated SA Cooper JV has had a five-stage fracture stimulation, and Moomba-193 ST1 drilled to 3,396 m with a ~900 m lateral. Mechanical problems hit Beach-operated Boston wells; PEL 218 retention licences offered.
13 Mar 2014other● Neutral
Corrected Appendix 3Y replacing the one lodged 30 Sep 2013: director Roy Franklin received 36 shares at $14.6479 through the dividend reinvestment plan, lifting his indirect holding from 3,589 to 3,625. Administrative correction, no new substance.
6 Mar 2014drilling progress report● Neutral
Drillsearch's February report completes the five-well Ipundu oil appraisal campaign in Santos-operated ATP 299P, all wells cased as future producers. A three-well Tintaburra/Toobunyah development campaign (Santos 60%) began with Tintaburra-8. Other results are Beach-operated.
5 Mar 2014drilling progress report● Neutral
Beach's February report mostly covers its own wells. In Santos-operated Cooper work, the three-well Barrolka program finished with all wells cased as gas producers, and the first Big Lake five-well pad was completed. Moomba-193 ST1 reached 3,996 m with about 1,000 m of horizontal section, to be fracture stimulated.
3 Mar 2014material agreement● Neutral
Senex signed a two-year gas sales agreement to supply up to 10 mmscf/d of raw gas from its Hornet field to the Santos-operated South Australian Cooper Basin JV, starting in the September quarter 2014. Small contract; pricing confidential.
3 Mar 2014material agreement● Neutral
Re-lodgement of Senex's earlier announcement of the Hornet gas sales agreement with the Santos-operated South Australian Cooper Basin JV: up to 10 mmscf/d for two years from the September quarter 2014. No new information.
