Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Apr 2012regulatory community update▼ Bad
Partner Carbon Minerals says Gunnedah work in PELs 1 and 12 (Santos 65% operator) has been halted since late 2011 amid NSW government review. It cites Santos-commissioned research on gas supply and hopes to restart for reserves bookings by June 2013. Submissions on land plans close 3 May.
4 Apr 2012drilling result● Neutral
Beach's March drilling report covers Cooper Basin wells where Santos operates the joint venture. Tindilpie-15 gas well was cased as a future producer, Bullamakanka-1 oil well was dry, and Charo-10 hit the target oil reservoir. Santos's own stake is not stated.
30 Mar 2012capital raising announcement● Neutral
Santos issued 4,689,506 shares at A$13.6693 to dividend reinvestment participants and 5,509,612 shares at A$14.0198 to the plan's underwriter, for the 2011 final dividend. Routine share issue notice, small relative to the share base.
What it means for a shareholder
4.7m new shares at A$13.67 to raise about A$64.1m. That's 0.49% dilution: every existing holder's slice gets 0.49% smaller. If you held A$1,000 of shares (73 at the issue price), your slice goes from 0.00000768% to 0.00000764% of the company. To keep it you'd need 0 more shares - about A$0 at the issue price.
Create a free account to see this worked out for your own holding.
30 Mar 2012annual report● Neutral
2011 Sustainability Report covering environment, community, people and economic performance, with a map of Santos's assets. The visible text is mostly descriptive and carries no new financial or operating results.
30 Mar 2012annual report● Neutral
Full 2011 annual report, restating known results: production 47.2 mmboe, 2P reserves about 1,364 mmboe, sales revenue A$2,530m and net profit A$753m. Describes first LNG from PNG LNG in 2014 and GLNG in 2015. Text truncated; no new figures seen.
15 Mar 2012dividend declaration● Neutral
Santos sets the dividend reinvestment plan price at A$13.6693 for the 15c franked final dividend payable 30 March. This is the average market price over seven days, less a 2.5% discount. Administrative follow-up to the February results.
9 Mar 2012regulatory community update▼ Bad
Partner Carbon Minerals (35% of PELs 1 and 12, Santos 65% operator) says field work in the Gunnedah Basin remains curtailed. NSW released draft land use plans on 6 March with tougher rules for coal seam gas; Carbon hopes work can resume. Continues the NSW permitting uncertainty.
9 Mar 2012production update▲ Good
Partner Cue says Wortel in the Sampang PSC (Santos 45% operator) is now stable at about 50 BBTU/d. Combined with Oyong it meets the 90 BBTU/d contract quantity. Oyong-11 infill well lifted field oil output above 3,000 barrels a day. Follows first gas on 31 January.
8 Mar 2012investor presentation● Neutral
Text is truncated, so only the visible part is covered: David Knox's CERA Houston speech on Australia as a major LNG supplier. It says Asian LNG demand nearly doubles to 300 mtpa by 2025 and about $180bn of Australian LNG projects are sanctioned. No new Santos results visible.
7 Mar 2012drilling result● Neutral
Beach's February drilling report covers Cooper Basin wells where Santos operates the joint venture (Beach 20.21%). Tindilpie-14 and Durham Downs North-3 gas wells were cased as future producers and Charo-8 and Charo-9 oil wells hit the target, the first of nine planned. Santos's own stake is not stated.
6 Mar 2012investor presentation● Neutral
Martyn Eames conference speech on Asian LNG demand and Australia's coal seam gas-to-LNG growth. General industry outlook; no new Santos figures or results visible in the text.
5 Mar 2012investor presentation● Neutral
Citi conference roadshow deck in London restating known points: 2P reserves of 1,364 mmboe, 80-90 mmboe production by 2020, 2012 capex A$3.75bn and 51-55 mmboe guidance. No new announcements.
17 Feb 2012annual report▲ Good
Full-year report: net profit A$753m (up 50.6%) on revenue of A$2,530m, with a final dividend of 15 cents fully franked. Covers the same result as the separate results release.
17 Feb 2012admin correction● Neutral
Corrects the ex-dividend date for the 15c final dividend to 24 February 2012 from 23 February. Payment on 30 March and the 1 March record date are unchanged.
17 Feb 2012annual report▲ GoodMajor
2011 net profit rose 51% to A$753m, including A$408m after-tax gains from asset sales (15% of GLNG, Evans Shoal) and A$102m of impairments. Underlying profit was A$453m (up 20%), with A$7.5bn funding capacity and a 15c final dividend. Evans Shoal sale to ENI completed; Kipper first gas deferred beyond 1H 2012 for mercury removal.
17 Feb 2012investor presentation● Neutral
Results presentation repeating the A$753m profit, A$453m underlying profit and A$7.5bn funding capacity. Adds that Wortel finished on budget but 30 days behind schedule; 2012 guidance of 51-55 mmboe and A$3.75bn capex is unchanged.
8 Feb 2012resource reserve update● NeutralMajor
Santos's 2P reserves ended 2011 at 1,364 mmboe, 81 mmboe below 2010's 1,445, after 82 mmboe of organic additions (173% replacement) were outweighed by 116 mmboe net from sales (GLNG stakes, permit transfers) and ESG. Contingent resources fell to 2.2 billion boe.
8 Feb 2012investor presentation● Neutral
Conference address by a Santos technical vice president comparing Australian coal seam gas with North American shale gas, and discussing Cooper Basin shale potential as at an early exploration stage. Background talk; no new results or figures.
1 Feb 2012drilling scheduled▼ Bad
Partner Octanex says the Winchester well (WA-323-P/330-P, Santos 75% operator) slips from Q3 to Q4 2012 because the Ensco 109 rig will arrive later than negotiated. Delays the earlier Q3 2012 plan.
1 Feb 2012production update● Neutral
Cue, a 15% partner in Sampang, congratulates Santos on first gas at Wortel and attaches the Santos release. Repeats known facts; no new information.
1 Feb 2012production update▲ GoodMajor
First gas flowed from Wortel in Indonesia's Sampang PSC, on budget, with Oyong and Wortel combined expected at 90 TJ/day gross. Santos (45%, operator) calls it the fourth base-business start-up in eight months; the long-awaited Wortel gas is now delivered.
1 Feb 2012drilling progress report● Neutral
Beach's January report is mostly its own wells. In Santos-operated Cooper work, four gas development wells were drilled (Merrimelia-62, Leleptian-4, Tindilpie-13, Durham Downs-5); three were cased as future gas producers, and the fourth was logging. Routine.
27 Jan 2012contract award● Neutral
Clough Curtain JV won work orders of about A$145m under the PNG LNG upstream infrastructure contract. A contractor announcement; Santos's 13.5% interest is only listed and no cost change is stated.
24 Jan 2012regulatory community update▼ Bad
Operator ExxonMobil reports a landslide in the Hides area of PNG's Southern Highlands. Work in Hides and Komo is shut down and the road is blocked. Impact on the PNG LNG schedule (Santos 13.5%) is not stated.
13 Jan 2012asset acquisition disposition▲ Good
Tap Oil is selling its 8.2% of WA-191-P (Fletcher Finucane) to Santos for A$21.7m after failing to agree processing terms at Mutineer Exeter. Santos is the buyer, building on the May 2011 Finucane South discovery.
13 Jan 2012material agreement▲ GoodMajor
Santos approved the A$490m Fletcher Finucane oil project, first oil in 2H 2013 at about 15,000 bopd gross, 14 million barrels 2P. Santos becomes operator with an effective 48% after buying Tap's interest for A$18m; its capex share is A$236m.
12 Jan 2012production update● Neutral
Cue says both Wortel wells are completed as gas producers and the platform deck installs mid-January, with first gas still expected by end-January 2012 and budget held at US$105.1m. Santos operates Sampang with 45%.
9 Jan 2012production update● Neutral
Drillsearch says wet gas from the Middleton-Brownlow pilot has begun flowing into the Santos-led Cooper JV's Moonanga facilities at about 25 MMscf/d raw gas. Implements the November gas sale agreement; the project is Drillsearch and Beach's.
9 Jan 2012production update● Neutral
Beach confirms first gas from Middleton, sold as raw gas to the Santos-led Cooper JV at Moonanga, ramping to 25 MMscf/d. Duplicates the Drillsearch release; Santos is only the buyer.
4 Jan 2012drilling progress report● Neutral
Beach's December report is mostly its own wells. In Santos-operated Cooper work, Moomba-191, Andree-4, Roti-4 and Galex-3 were cased as future gas producers, and Moomba-191 was deepened to core shale intervals. Routine development drilling.
