Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 Oct 2014quarterly activities report▲ Good
Q3 2014 production was 14.0 mmboe (+9% on Q2), the highest in seven years, on PNG LNG ramp-up; sales revenue was A$1,060m. GLNG is approaching 90% complete with first LNG still due in 2015. 2014 guidance is maintained.
1 Oct 2014drilling progress report● Neutral
Beach's September report mostly covers its own wells and Egypt. In Santos-operated Cooper work, Caroowinnie-2, Tallerangie-2, Andree-6 and Big Lake-125, -113 and -114 were cased as future producers, while others kept drilling. No new result of significance for Santos.
30 Sept 2014other● Neutral
Shareholder newsletter repeats the first-half result: underlying profit A$258m, 20c interim dividend, PNG LNG at full capacity, GLNG over 85% complete, Lasseter discovery. It states A$2.7bn in cash and undrawn debt facilities and that the dividend will next be reviewed around GLNG start-up. No new information.
26 Sept 2014dividend declaration● Neutral
Santos set the issue price for shares under the dividend reinvestment plan at A$14.6198 for the 20c interim dividend, paid 30 September 2014. The price is the 7-day average less a 2.5% discount. This implements the dividend announced on 22 August.
9 Sept 2014joint venture update● Neutral
Central says Santos finished logging Mt Kitty-1; earlier gas flows came from fractured granite basement, not the Heavitree Quartzite. The well is being plugged and suspended, and a sidetrack may follow. This resolves the Mt Kitty-1 testing thread, with no resource figure.
5 Sept 2014other● Neutral
S&P Dow Jones Indices will remove Santos from the S&P/ASX 20 after the close on 19 September 2014, because the index currently carries an additional constituent. It stays in the ASX 50 and 100. Index housekeeping, not a company event.
3 Sept 2014drilling progress report● Neutral
Beach's August report is mostly about its own wells. In Santos-operated Cooper work, Big Lake-111, -112, -119 and Durham Downs-6 were cased and suspended as future gas producers, and others kept drilling. No new result of significance for Santos.
27 Aug 2014joint venture update● Neutral
Central says Santos plans to re-enter Mt Kitty-1 to finish logging and then plug and suspend the well. A resource estimate and economics study will follow. This follows the earlier disparate gas results and the alternate-rig plan. Santos will shoot at least ~200 km of seismic in EP 125.
27 Aug 2014contract award● Neutral
WDS says it won about A$65m of contracts, including the Santos GLNG Fairview Eastern Flank construction contract for facilities on 74 gas wells, starting later this year. This is a contractor's win; the text gives no Santos cost, and it shows GLNG upstream work continuing.
22 Aug 2014drilling result▲ GoodMajor
Santos' Lasseter-1 in the Browse Basin (WA-274-P, Santos 30% operator) found a gas-condensate column with 78 m of net pay, reaching 5,329 m. It follows the 2012 Crown discovery and will now be plugged and abandoned as planned.
22 Aug 2014investor presentation● Neutral
The half-year results presentation repeats the same-day release: underlying profit A$258m, interim dividend 20c, PNG LNG at full production, GLNG over 85% complete, and the Lasseter discovery. The dividend is next expected to be reviewed around GLNG start-up.
22 Aug 2014half year report▲ GoodMajor
First-half 2014 net profit fell 24% to A$206m after a A$67m impairment; underlying profit rose 3% to A$258m on sales revenue of A$1,887m (+25%). Interim dividend is 20c, up from 15c. The detailed report repeats the same-day results release.
22 Aug 2014half year report▲ GoodMajor
Santos reports first-half underlying profit up 3% to A$258m and raised the interim dividend 33% to 20c. PNG LNG is at full capacity and first cash arrived in July; GLNG is over 85% complete. 2014 guidance is maintained.
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.
18 July 2014quarterly activities report▲ Good
Q2 2014 production was 12.8 mmboe (+5% on Q1) and sales revenue A$974m (+22% on a year earlier), helped by PNG LNG, which shipped seven cargoes. Santos expects a ~A$70m non-cash impairment on Indonesian coal seam gas as it withdraws from South Sumatra CSG. Guidance is maintained.
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.
16 May 2014agm notice● Neutral
Santos released the Chairman's and Managing Director's addresses from the 16 May 2014 AGM, plus the Managing Director's statement on the Narrabri requisition. The Chairman set out a strategy of growing the domestic base, delivering the LNG projects and building Asian exploration. The text shown contains no new figures.
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.
17 Apr 2014quarterly activities report● Neutral
Q1 2014 production was 12.2 mmboe (+1% on a year earlier, -7% on Q4) and sales revenue A$913m (+28%, mainly higher third-party crude sales). PNG LNG is over 95% complete and GLNG 80% complete; 2014 guidance of 52-57 mmboe is maintained.
