Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Sept 2026production update▲ Good
Seawater injection began at Pikka on 26 August, giving pressure support for the ramp-up. Production is now about 40,000 bbl/d gross, up from 23,000 in July, with plateau of ~80,000 bbl/d still targeted for the end of Q3 2026.
19 Aug 2026half year report● NeutralMajor
First-half results: production 45.6 mmboe, revenue US$2.6bn, underlying profit US$397m, free cash flow US$378m. Interim dividend 11.6c unfranked (US$377m); gearing 23.2% ex leases, up from 21.5% at end-2025. Papua LNG FID is still targeted for Q4 2026.
19 Aug 2026half year report▼ Bad
Half-year report: net profit US$355m (down 19%), underlying profit US$397m, and free cash flow US$378m (down 65%). Interim dividend is 11.6 US cents per share, down from 13.4c a year earlier.
11 Aug 2026production update▲ Good
Santos loaded the first Pikka crude cargo, 450,000 barrels, from Valdez bound for the US West Coast. Pikka is producing about 23,000 bbl/d gross toward the 80,000 bbl/d plateau; this starts commercial exports and the first sales revenue flagged for August.
10 Aug 2026other● Neutral
Administrative notice that Santos will release its 2026 half-year results on 19 August 2026, with a webcast led by the CEO, CFO and COO. No new information on the business.
27 July 2026production update▲ Good
Santos and PRISM loaded the first Barossa condensate cargo, about 300,000 barrels, bound for SK Incheon Petrochem in South Korea. It follows the January first LNG cargo; the project is running at 97% of planned rates, with Santos holding 50%.
23 July 2026quarterly activities report● Neutral
Q2 2026 production was 23.1 mmboe and revenue US$1,349m. First-half free cash flow was only ~US$378m, hit by Barossa and Pikka commissioning costs and cargo timing. Barossa now runs at 97% of planned rates; company expects second-half production up 20-30%.
29 June 2026material agreement▲ GoodMajor
Santos signed the full gas sale agreement with the South Australian Government: 200 PJ over 10 years from 1 March 2030, with indexed pricing and prepayment. This meets the 30 June condition set in the February term sheet and supports funding of the Moomba Central Optimisation project.
23 June 2026production update▲ Good
Pikka phase 1 in Alaska has started continuous production, with first wells online at about 20,000 bbl/d gross. Seawater injection and more wells follow, targeting 80,000 bbl/d plateau in Q3 2026. This continues the May first oil; Santos holds 51%.
17 June 2026director officer appointment● Neutral
Kate Vidgen joins the board as an independent non-executive director from 17 June 2026, filling the vacancy left by Yasmin Allen's February retirement. She is a former Macquarie executive and was chair of Quadrant Energy, which Santos acquired in 2018.
26 May 2026investor presentation▲ GoodMajor
Investor day sets a net debt reduction target of about US$2.5bn by 2030 and the outcome of its strategic review: the Australian domestic business is repurposed, with ~US$300m cumulative capex cuts for 2027-2030. Barossa is at 75% of planned 2026 rates.
18 May 2026production update▲ GoodMajor
First oil flowed from Pikka phase 1 in Alaska (Santos 51%, Repsol 49%). Output is to ramp to 20,000 bbl/d gross, with 80,000 bbl/d plateau expected in Q3 2026. First sales revenue is expected two to three months out.
12 May 2026material agreement▲ GoodMajor
Santos took a final investment decision on the PNG Agogo Production Facility tie-in. Its share of capex is about US$160m, with first gas targeted for Q2 2028. The project adds ~54 mmscf/d net, with an expected IRR above 50%.
23 Apr 2026quarterly activities report● Neutral
Q1 2026 production was 22.5 mmboe, with revenue of about US$1.27bn and free cash flow of ~US$383m. Guidance is unchanged. Barossa restart and Pikka first oil are both still pending; Barossa had commissioning shutdown issues.
16 Apr 2026agm notice● Neutral
Chair and CEO AGM addresses repeat known facts: 2025 results, the 60% free cash flow return framework, and Barossa and Pikka lifting production by 25-30% by 2027. No new announcements are evident in the text provided.
8 Apr 2026drilling result▲ GoodMajor
Quokka-1 appraisal well in Alaska found about 143 feet of net oil pay and flowed 2,190 bopd, supporting a possible two-drill-site development. Santos holds 51%. Pikka is mechanically complete with first oil expected in weeks; Barossa restart is expected around 18 April.
9 Mar 2026material agreement▲ GoodMajor
Santos and Beach Energy took a final investment decision on the Moomba Central Optimisation project in the Cooper Basin. Santos's share is US$357m over three years, targeting over US$600m savings and an IRR above 15%. Funding is planned from the South Australia gas prepayment, subject to a final agreement.
6 Mar 2026other● Neutral
S&P Dow Jones Indices will remove Santos from the S&P/ASX 20 index, effective 23 March 2026. This is an index change, not a company announcement, and Santos stays in the broader indices listed.
20 Feb 2026material agreement▲ GoodMajor
Santos signed a binding term sheet to supply the South Australian government 20 PJ a year for 10 years from March 2030, for Whyalla Steelworks. Prepayment pricing is included. It is conditional on a full gas supply agreement by 30 June 2026 and approvals.
18 Feb 2026director officer appointment● Neutral
Non-executive director Yasmin Allen, on the board since October 2014, retires effective 21 February 2026. The announcement says this follows completion of her current term.
18 Feb 2026regulatory community update● Neutral
Annual climate update: Scope 1 and 2 net emissions were 42% below the 2019-20 baseline, and Moomba CCS has stored 1.57 MtCO2e since September 2024. It restates the existing 2030 target achievement and adds no new commitments.
18 Feb 2026half year report● NeutralMajor
FY2025 results: underlying profit US$898m, free cash flow US$1.8bn, final dividend 10.3c (23.7c total). Santos also targets a ~10% headcount cut as Barossa and Darwin LNG complete. 2026 guidance unchanged at 101-111 mmboe.
18 Feb 2026other● Neutral
Appendix 4G governance disclosure key accompanying the 2025 annual report, pointing to the corporate governance statement. Administrative filing with no new substantive information.
18 Feb 2026annual report● Neutral
2025 annual report: revenue US$4,939m (down 8%), net profit US$818m (down 33%), underlying profit US$898m (down 25%). The final dividend is 10.3 US cents unfranked, bringing the total to 23.7 cents.
11 Feb 2026resource reserve update● NeutralMajor
Year-end 2025 2P reserves are 1,484 mmboe, down from 1,559. Additions of 13 mmboe before production of 88 mmboe were mainly from the Cooper Basin and PNG. 2C contingent resources fell to 3,212 mmboe after the Petrel and Tern sale.
27 Jan 2026production update▲ GoodMajor
The first Barossa LNG cargo was loaded and sailed from Darwin LNG on 25 January, bound for Japan. Santos says the project came in within the original budget, about six months after the planned start date, without using the extra contingency.
22 Jan 2026quarterly activities report● Neutral
Q4 2025 production was 22.3 mmboe (full year 87.7 mmboe), with full-year free cash flow of about US$1.8bn. Barossa is ramping up and loading its first LNG cargo. Pikka phase 1 is 98% complete, with Santos's share of capital cost up about US$200m.
19 Dec 2025director officer appointment● Neutral
Lachlan Harris was confirmed as permanent Chief Financial Officer, effective immediately. He had been Acting CFO since October, after Sherry Duhe's resignation, and has 15 years at Santos.
18 Dec 2025other▲ GoodMajor
Fluor paid A$1.073bn following the August court judgment on the GLNG construction claim. Santos's net share is about A$240m (~US$160m). Fluor appealed in October, and if it succeeds some or all of the funds may have to be returned. The appeal hearing is scheduled for July 2026.
17 Dec 2025debt financing▲ GoodMajor
The PNG LNG joint venture repaid its project finance facility in full, six months early. Santos's share of the final payment was US$363m. There are no scheduled debt maturities in 2026, and liquidity is about US$4.0bn.
