Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 June 2013drilling progress report● Neutral
Beach's weekly drilling table mostly covers its own wells. In Santos-operated Cooper gas, Cowralli-25, -14 and -24 and Juno-6 were cased and suspended as future producers, Cowralli-15 was logging at 3,299 m, and Van der Waals-1 was drilling at 3,044 m.
5 June 2013drilling progress report● Neutral
Beach's May report mostly covers its own wells. In Santos-operated Cooper gas, Cowralli-24 and -14 were suspended, Juno-6 was suspended for production, and Van der Waals-1 was at 3,034 m coring the Roseneath Shale.
5 June 2013asset acquisition disposition● Neutral
Senex agreed to sell its 15% interest in the Santos-operated Cuisinier oil field (PL 303) and its ATP 752 interests for A$20m, subject to partners' pre-emption rights. Santos (45% operator) could use its pre-emption right, but this is not stated.
4 June 2013drilling progress report● Neutral
Winchester-1 (Santos 75% operator) was at 3,274 m on 4 June and drilling ahead in the 12¼-inch hole toward a casing point near 3,540 m. No result yet.
29 May 2013contract award● Neutral
Transfield Services' subsidiary Easternwell won a new A$30m, two-year Santos contract for heavy workover services in the Cooper Basin, starting late 2013 with two one-year extension options. It is a small contract for Santos, announced by the contractor.
28 May 2013investor presentation● Neutral
Santos's APPEA briefing on WA and the Northern Territory confirms Fletcher Finucane is flowing at 45,000 bbl/d gross from three wells and that Vanuatu will be drilled in late 2013. It also covers Crown (0.5-5 Tcf contingent resource), Bassett West drilling and Bonaparte LNG. Largely repeats known facts.
28 May 2013drilling progress report● Neutral
Winchester-1 (Santos 75% operator) was still at 2,891 m on 28 May. The 14-inch casing is cemented and the well is preparing to drill the 12¼-inch hole toward about 3,610 m. No result yet.
22 May 2013investor presentation● Neutral
Santos's GLNG investor visit presentation says the project is over 50% complete, first LNG is on track for 2015, and the US$18.5bn capex is maintained. It reports record CSG drilling (27 wells in April 2013) and GLNG 2P reserves of 6,721 PJ, mostly repeating known facts.
21 May 2013drilling progress report● Neutral
Winchester-1 (Santos 75% operator) was at 2,891 m on 21 May. The 17½-inch hole is finished and 14-inch casing is being cemented, before drilling the 12¼-inch hole. No result yet.
20 May 2013production update▲ GoodMajor
Santos started first oil from the A$490m Fletcher Finucane project on 20 May, ahead of schedule and on budget. Gross rate is projected at 15,000 bbl/d for the first year, with reserves of about 14 million barrels. Santos holds an effective 44%. This delivers the mid-2013 start flagged earlier.
14 May 2013material agreement● Neutral
Nexus agreed with Santos to amend the Longtom gas sales agreement from 1 July 2013, covering 83 PJ to end-2018, with a new production profile and pricing. It is conditional on Nexus funding and Santos capacity confirmation by 30 June. Longtom-5 is planned for late 2014.
8 May 2013drilling progress report● Neutral
Beach's April report mostly covers its own wells. In Santos-operated Cooper Basin gas, Cowralli-22 and -23 were suspended as the first of 16 Cowralli development wells, and Van der Waals-1 shale gas well was drilling at 2,449 m. Lepard-2 and Psyche-7 were also suspended.
7 May 2013drilling progress report● Neutral
Winchester-1 (Santos 75% operator, Octanex 25% free carried) was at 2,164 m on 7 May, drilling the 17½-inch hole toward a casing point near 2,930 m. No hydrocarbon result yet.
1 May 2013drilling progress report▲ Good
Senex's April report mostly covers its own wells. For Santos's Cuisinier campaign (Santos 45% operator, Senex 15%), Cuisinier-8 found about 6.8 m net oil pay and will be suspended as a future producer; Cuisinier-10 spudded 26 April.
30 Apr 2013drilling progress report● Neutral
Winchester-1 (Santos 75% operator) was at 1,875 m on 30 April, with 20-inch casing cemented and blowout preventer tests under way. Next is drilling the 17½-inch hole to about 2,930 m. No result yet.
23 Apr 2013drilling progress report● Neutral
Winchester-1 (Santos 75% operator) was at 1,756 m on 23 April and drilling ahead in the 26-inch hole toward the 20-inch casing point. No result yet.
16 Apr 2013drilling progress report● Neutral
Winchester-1 (Santos 75% operator) was at 845 m on 16 April, nine days after spud, with the conductor set and the 26-inch hole being drilled. No hydrocarbon result yet.
12 Apr 2013director officer appointment● NeutralMajor
Chairman Peter Coates will retire as chair at the 9 May 2013 AGM, staying on as a non-executive director, because of a full-time executive role at Glencore/Xstrata. Director Ken Borda, on the board since 2007, succeeds him.
8 Apr 2013drilling spud● NeutralMajor
Santos spudded Winchester-1 in WA-323-P at 23:00 on 7 April 2013, targeting Triassic reservoirs to 4,803 m in about 75 m of water, roughly 80 days of drilling. Santos holds 75% and Octanex 25%, free carried.
8 Apr 2013annual report● Neutral
Santos lodges its 2012 Annual Report, covering operations, governance and financials to 31 December 2012. It restates results already announced on 22 February, including production of 52.1 mmboe and sales revenue of A$3,220m. No new information in the excerpt.
8 Apr 2013annual report● Neutral
Santos publishes its 2012 Sustainability Report covering environment, community, people and economic performance. The excerpt contains no financial or operating news for shareholders.
4 Apr 2013drilling progress report▲ Good
Senex's March report mostly covers its own wells. For Santos, Cuisinier-7 (Santos 45% operator, Senex 15%), the first of the five-well campaign, found about 6.2 m net oil pay in the Murta Formation and will be suspended as a future oil producer.
4 Apr 2013drilling scheduled● Neutral
Octanex says Santos, operator with 75% of WA-323-P and WA-330-P, will spud the Winchester-1 exploration well within days, targeting Triassic reservoirs to 4,803 m over about 80 days. Octanex's 25% is free carried. Winchester was previously listed as unreported.
4 Apr 2013farm in farm out completion▲ GoodMajor
Central Petroleum completes its farm-out to Santos over most of the Amadeus and Pedirka Basin areas (over 18.7 million acres), following the October 2012 deal. The EP97 portion is deferred until the Rawson Resources transaction completes.
4 Apr 2013production update● Neutral
Nexus reports Santos, as operator of the Patricia Baleen facilities, plans a roughly ten-day offshore repair program between 29 April and 19 May 2013, after which Longtom gas production should restart. Production had been suspended since 14 January.
3 Apr 2013drilling progress report● Neutral
Beach's March report mostly covers its own wells. Santos-operated Cooper items: Baryulah gas program finished with Baryulah-14 suspended, Burke-12 and Goyder-6 suspended as gas producers, Cowralli-22 drilling as first of 16 pad wells, and Achilles-1 abandoned with no hydrocarbons.
2 Apr 2013other▼ BadMajor
S&P will treat Santos's €1bn 2010 hybrid as debt rather than equity and has placed the BBB+ rating on CreditWatch negative. Santos says its financial position is unchanged, with A$5.8bn cash and undrawn debt, and capital management will be considered later in 2013 once PNG LNG generates cash in 2014.
21 Mar 2013admin correction● Neutral
Clarification of the earlier dividend reinvestment notice: the issue price is A$12.6456, being the A$12.9699 average market price less 2.5%. No new information.
21 Mar 2013dividend declaration● Neutral
Santos sets the dividend reinvestment plan issue price at A$12.6456 for the 15c final dividend payable 28 March 2013. This is the average market price of A$12.9699 less a 2.5% discount. Shareholders choosing reinvestment receive new shares at that price.
19 Mar 2013material agreement● Neutral
Drillsearch and Beach's PEL 106B venture sign a new gas sales agreement with the South Australian Cooper Basin JV (Santos 66.6% operator interest). It covers 10 BCF firm over three years. Santos is the buyer; the benefit mainly goes to Drillsearch.
