Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Feb 2013drilling progress report● Neutral
Beach's January report mostly covers its own wells. Santos-operated Cooper items: Baryulah-16 suspended, Munkarie-10 suspended as a future gas producer, Gaschnitz-ST1 reached 3,889 m, Roswell-1 suspended, and Cudgel-1 abandoned with minor oil shows only. No major new Santos result.
30 Jan 2013director officer appointment● Neutral
Santos appoints Rod Duke, from Singapore LNG Corporation, as VP Downstream GLNG from February, reporting to CEO David Knox. He succeeds Mark Macfarlane, who is leaving after 15 years. GLNG is said to be more than 45% complete, with first LNG still 2015.
17 Jan 2013quarterly activities report▲ Good
Santos reports 2012 production up 10% to 52.1 mmboe, in line with guidance, and record sales revenue of A$3.22bn. Q4 production was 13.2 mmboe. Crown-1 discovery, a 30% farm-in to WA-408-P and a Tamboran farm-in to earn up to 75% in McArthur Basin permits are noted; GLNG 45% complete.
14 Jan 2013production update▼ Bad
Nexus reports Longtom gas production is suspended by an electrical fault, which could lie in Santos or Nexus offshore facilities. Santos is working on an offshore repair; no restart date or fault cause given. Santos's own interest in Longtom is not stated here.
3 Jan 2013drilling progress report● Neutral
Beach's December report mostly covers its own wells. Santos-operated Cooper: Baryulah-15 gas well suspended, Zeus-7 oil well suspended, Paspa-1 oil exploration plugged and abandoned (water only), Gaschnitz-ST1 and Roswell-1 unconventional wells drilling.
19 Dec 2012drilling progress report● Neutral
Senex's fortnightly report is mostly about its own wells, including the start of Paning-2. Visible text has no new Santos result; Santos-operated Barta data capture is not covered in the visible portion.
5 Dec 2012drilling progress report● Neutral
Beach's November report mostly covers its own wells. Santos-operated Cooper: Moolion-5 and Cooba-4 gas wells suspended as future producers, Zeus-5/6 oil wells suspended. Hurricane-3 gas appraisal (WA-208-P) was plugged and abandoned after failing, per the visible text.
5 Dec 2012drilling progress report● Neutral
Senex's fortnightly report is mostly about its own wells. Santos-linked: the Barta (ATP 752P, Santos 45% operator) 3D seismic survey continued data capture. Nothing new for Santos itself.
22 Nov 2012investor presentation● NeutralMajor
Annual investor seminar. New guidance: 2013 production 53-57 mmboe and capex about A$4bn (peak GLNG year, including the PNG LNG cost increase), exploration A$325m. Over A$6bn of funding capacity at 30 Sep; says no extra funding needed under reasonable scenarios. Reaffirms 80-90 mmboe by 2020.
19 Nov 2012drilling result▲ GoodMajor
Santos announces a significant gas discovery at Crown-1 (WA-274-P, Browse Basin, Santos 30% operator): 61 m net gas pay, no gas-water contact, drilling on to 5,200 m. Also agrees to take 30% of adjoining WA-408-P from Total, with wells to follow.
12 Nov 2012investor presentation● Neutral
Santos presentation on commercialising Cooper Basin unconventional gas, applying US shale lessons. Cites Santos net contingent resources of 4,561 PJ (3C) and large prospective resources. Builds on the Moomba-191 shale result; the visible text sets out strategy, with no new well result.
12 Nov 2012joint venture update▼ BadMajor
Operator ExxonMobil raises PNG LNG's estimated cost from US$15.7bn to US$19bn, mainly from the stronger Australian dollar. Santos's 13.5% share rises about US$450m, with roughly US$130m extra equity. Plant capacity rises to 6.9 mtpa; project 70% complete, first LNG still 2014.
7 Nov 2012drilling progress report● Neutral
Beach's October report mostly covers its own wells. Santos-operated Cooper items: Waukatanna-5 and Moolion-6 gas wells cased, Irtalie East-3 and Zeus-4 oil wells suspended as future producers, and Gaschnitz-1 unconventional gas well spudded. No major new Santos result.
24 Oct 2012drilling progress report● Neutral
Senex's fortnightly report is mostly about its own wells. Santos-linked item: a 224 sq km 3D seismic survey started in ATP 752P (Barta, Santos 45% operator, Senex 15%), following the earlier all-oil Barta wells. No new Santos result.
22 Oct 2012director officer appointment● Neutral
Santos appoints Hock Goh, 57, a former Schlumberger executive with Asian oil and gas experience, as a director effective immediately. Chairman Peter Coates links the appointment to growing Santos's Asian businesses.
18 Oct 2012quarterly activities report▲ Good
Q3 2012 production rose 6% to 13.5 mmboe, with record quarterly revenue of A$851m. Production guidance of 51-55 mmboe is kept, but 2012 capex guidance is cut from A$3.75bn to A$3.5bn on GLNG and Gunnedah timing. Dua approved by Vietnam.
16 Oct 2012contract award● Neutral
Mermaid Marine wins a roughly A$15m, two-year contract (plus options) to support Santos's MV 11 floating production vessel from March 2013. The vessel will also serve the A$490m Fletcher Finucane project, first oil 2H 2013. Supplier announcement.
5 Oct 2012farm in farm out agreement▲ Good
Rawson says the Santos-Central deal also covers three EP97 blocks in the Pedirka Basin. Santos has agreed in principle to pay for Central's farm-in there, leaving Santos 56%, Central 24%, Rawson 20% in those blocks once wells are drilled.
3 Oct 2012drilling progress report● Neutral
Beach's September drilling report mostly covers its own wells. Santos-operated: Big Lake-94, Bobs Well-3 and Kanowana-9 gas wells suspended for future production; Irtalie East-2 oil appraisal in PL 36 found mostly water and was abandoned.
2 Oct 2012farm in farm out agreement▲ GoodMajor
Central Petroleum announces Santos will fund up to A$150m, A$30m initially, to earn up to 70% of 13 Amadeus and Pedirka Basin permit areas and become operator. Central keeps at least 30% with a free carry. Subject to Central renewing permits.
18 Sept 2012contract award● Neutral
Contractor Thiess announces a A$134m contract from Saipem to build a 4.3km tunnel under The Narrows, carrying the GLNG gas pipeline to Curtis Island. Supplier announcement; tunnelling starts later in 2012. Shows GLNG construction progressing.
10 Sept 2012dividend declaration● Neutral
Santos said the average market price for its dividend reinvestment plan was A$11.0855. DRP shares for the 15c interim dividend, payable 28 September 2012, are issued at that average less a 2.5% discount.
5 Sept 2012drilling progress report● Neutral
Beach's August drilling report mostly covers its own wells. Santos-operated items: Big Lake-93 gas well suspended, Big Lake-94 drilling, Kanowana-8 suspended as a future liquids-rich gas producer and Kanowana-9 drilling. No new Santos result.
17 Aug 2012half year report● NeutralMajor
First-half 2012 net profit fell 48% to A$262m because 2011 included A$246m of asset-sale gains; underlying profit rose 20% to A$283m on revenue of A$1,522m. Interim dividend is 15c, matching last year's. Funding capacity is A$6.8bn.
17 Aug 2012well test result▲ Good
Beach reports Santos-operated Moomba-191 shale well stabilised at 2.6 mmscf/d and peaked at 3.0 mmscf/d. Beach holds 20.21% of the joint venture (Santos 66.6%). Partner-side repeat of Santos's own same-day result.
17 Aug 2012half year report▲ Good
Media release for the A$262m half-year profit (underlying A$283m, up 20%). Adds that Moomba-191 shale well flowed dry gas at 2.6 mmscf/d, to become Australia's first commercial shale gas production. PNG LNG (2014) and GLNG (2015) are said to be on schedule.
17 Aug 2012investor presentation● Neutral
Half-year results presentation repeating known figures: production 25.4 mmboe, underlying profit A$283m, 2012 capex guidance A$3.75bn, funding capacity A$6.8bn. New detail: Kipper first gas now delayed until 1H 2016. Crown-1 has spudded.
1 Aug 2012joint venture update▲ Good
Comet Ridge reports the four-well Mahalo pilot drilling in ATP 337P finished successfully, with pilot facilities due late 2012. Santos holds 30% alongside Comet Ridge 35%, APLNG 30% and Stanwell 5%. Reserves certification is targeted by end-2013.
1 Aug 2012drilling result▼ Bad
Drillsearch says Santos-operated Olive Oyl-1 in ATP 299 (Santos 89%) will be plugged and abandoned, a dry hole and the final commitment well in the Tintaburra Block. Its Bauer-7 well showed oil.
1 Aug 2012drilling progress report● Neutral
Beach's July drilling report mostly covers its own wells. Santos-operated items: Big Lake-92 gas well drilled and suspended, Big Lake-93 spudded, and Kanowana-8 liquids-rich gas well begun. Beach holds 20.21% of Big Lake.
