Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
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.
12 Feb 2025resource reserve update● NeutralMajor
Santos's proved-plus-probable (2P) reserves fell to 1,559 mmboe at end-2024 from 1,661 mmboe. Production of 87 mmboe and the 30 mmboe PNG LNG sale to Kumul outweighed organic additions of 15 mmboe. 2C resources edged up to 3,338 mmboe; Cooper Basin CO2 storage resources rose to 178 Mt.
4 Nov 2024farm in farm out completion● NeutralMajor
Santos completes the 2.6% PNG LNG sale to Kumul, receiving the final US$241m for total cash of US$602m. Kumul also assumes about US$90m of project debt. Santos's interest falls from 42.5% to 39.9%; 2024 guidance is unchanged.
17 Sept 2024farm in farm out agreement● NeutralMajor
Santos and the Bayu-Undan partners execute the deed transferring 16% to TIMOR GAP, taking Santos from 43.4% to 36.5%. This follows the 2 September terms announcement. Completion is subject to customary closing conditions; the production sharing contract ends by 30 June 2026.
13 Feb 2024resource reserve update● NeutralMajor
2P reserves fell to 1,661 mmboe at end-2023 from 1,745, as 92 mmboe of production outweighed an 8 mmboe addition. The replacement ratio was 9%. 2C contingent resources rose to 3,325 mmboe, helped by a 108 mmboe revision to Tanumbirini.
19 Sept 2023farm in farm out agreement▲ GoodMajor
Santos farms down half its interest in 148 Alaska North Slope exploration leases (over 270,000 acres) to APA and Armstrong's Lagniappe, leaving it with 25%. Early exploration costs fall to the partners. Subject to government approvals; focuses Alaska on Pikka.
14 Feb 2023resource reserve update▲ GoodMajor
Santos reports record 2P reserves of 1,745 mmboe at end-2022, up 171 mmboe before production, with 166% replacement. Pikka Phase 1 sanction added 165 mmboe, offset by a 26 mmboe WA cut from Spar/Halyard water ingress. Expected impairments are about US$147m plus US$181m pre-tax.
29 Sept 2022drilling result▲ Good
Red Sky says drilling at Yarrow 3 is complete: casing set at 2,744.5m, well suspended and rig released. Gas is indicated in both target formations on preliminary data, and the results will now be evaluated to set the forward plan. Largely repeats the 26 September result.
26 Sept 2022drilling result▲ GoodMajor
Partner Red Sky reports Santos' Yarrow 3 appraisal well in PRL17 (Innamincka Dome, Cooper Basin) reached 2,748m and found gas in the Tirrawarra Sandstone and Patchawarra Formation on preliminary logs. The well will be cased and suspended as a potential producer. Announced by the partner.
17 Aug 2022drilling result▲ GoodMajor
Santos takes final investment decision on Alaska's Pikka Phase 1 (Santos 51%, Repsol rest): US$1.3bn Santos-share capex, 80,000 bbl/d gross, first oil 2026. 2P reserves 397 mmbbl gross; ~19% IRR at US$60 oil. This meets the 1H 2022 FID target.
11 May 2022farm in farm out agreement● Neutral
NeuRizer says Santos will farm into Cooper Basin permit ATP 2023 in Queensland, earning 50% and becoming operator from Bridgeport. Three gas exploration wells are planned from late 2022. Santos' stake is announced by a partner, not Santos.
6 Apr 2022farm in farm out agreement● Neutral
Gas2Grid signed a binding term sheet to take 60% of two Santos Cooper Basin permits in Queensland (ATP 1063 and ATP 1174) by funding seismic and an exploration well, estimated at A$3m in total. Santos stays operator. Small, third-party-announced deal.
23 Mar 2022drilling result▲ GoodMajor
Pavo-1 (Santos 70% operator, Carnarvon 30%) found a 60 m oil column with 46 m net pay, 46 km east of Dorado. 2C contingent resource is 43 mmbbl gross (Santos 30 mmbbl). It resolves the pending Pavo result and may allow a low-cost Dorado tie-back; drilling continues toward about 4,200 m.
11 Mar 2022drilling progress report▲ Good
Carnarvon reports Pavo-1 (WA-438-P, Santos 70% operator) reached about 3,282 m, with gas readings and higher resistivity at 2,944-3,001 m suggesting hydrocarbons. Drilling paused for a cyclone; plan is to deepen to about 3,600 m. No final result yet.
9 Feb 2022farm in farm out agreement● Neutral
Central Petroleum farmed out Amadeus Basin interests to Peak Helium, which will fund two sub-salt wells. Santos also confirmed it has entered farmout arrangements with Peak over its interests in the same permits and remains operator. Drilling is planned to begin in 2023.
8 Feb 2022resource reserve update▲ GoodMajor
Santos's 2P reserves rose 80% to 1,676 mmboe at end-2021, helped by Barossa's FID (373 mmboe) and Oil Search (416 mmboe). 2C resources rose 41% to 3,219 mmboe. It also booked 100 million tonnes of Cooper Basin CO2 storage.
1 Feb 2022resource reserve update▲ GoodMajor
Tamboran raised EP 161 contingent resources following the Tanumbirini flow tests. Net to Tamboran (25%), 2C rises 428% to 153 Bcf (610 Bcf gross) and 1C to 48 Bcf. This is a modest resource booking from the Santos-operated Beetaloo wells.
8 Dec 2021farm in farm out agreement▲ GoodMajor
Santos signed a binding agreement to sell 12.5% of Barossa to JERA for about US$300m at completion, expected 1H 2022. This finalises the sell-down flagged earlier, taking Santos to 50% alongside SK E&S 37.5%. First LNG remains 1H 2025, on schedule and budget.
29 Nov 2021drilling progress report● Neutral
Tamboran says Santos has finished the 2021 EP 161 drilling program, with Tanumbirini 3H cased and the rig demobilised. Fracture stimulation of the 2H and 3H wells has begun, with about 10 stages each. Initial flow-test results are now expected in December 2021.
8 Nov 2021drilling result▲ Good
Tamboran reports Tanumbirini 3H reached 4,857 m with over 1,000 m of target shale and strong gas shows, as at 2H. The 2021 drilling program is complete. Both wells will now be fracked and flow tested, with initial results by end of 2021.
1 Nov 2021drilling scheduled▲ GoodMajor
Santos and Beach Energy took final investment decision on the US$165m (A$220m) Moomba carbon capture project, with first injection targeted for 2024. It was registered with the Clean Energy Regulator, resolving the earlier pending condition. Santos holds 66.7% and operates.
6 Oct 2021drilling progress report▲ Good
Tamboran reports Tanumbirini 3H reached about 3,760 m, hitting the target shale, with vertical drilling time cut 20% from learnings at 2H. The roughly 1,000 m horizontal section follows, with total depth about 4,900 m by end October. Flow-test results are still expected before year-end.
2 Sept 2021drilling spud▲ Good
Tamboran reports Santos-operated Tanumbirini 3H in the Beetaloo (Santos 75%) spudded 23 August and is ahead of schedule at 1,080 m. It will be drilled to about 3,800 m, then roughly 1,000 m horizontal. Both 2H and 3H are to be fracked and flow tested before year-end.
17 Aug 2021drilling result▲ Good
Tamboran reports Tanumbirini 2H in the Beetaloo, operated by Santos (75%), reached 4,598 m total depth with strong gas shows and pressures. Tanumbirini 3H is next, then both wells will be fracture-stimulated and flow-tested, with results expected before end-2021. No flow rates yet.
5 July 2021drilling progress report● Neutral
Tamboran reports the Tanumbirini 2H well in the Beetaloo, where Santos operates with 75%, reached about 3,800 m in the target shale. Horizontal drilling is next, with flow test results expected in the fourth quarter of 2021.
29 June 2021drilling scheduled▲ GoodMajor
Santos launched FEED for Dorado Phase 1, an oil project with gross capex of about US$2bn and initial output of 75,000-100,000 bbl/day. FID is targeted around mid-2022. Santos holds 80% and is seeking partners for non-operated equity.
30 Mar 2021drilling result▲ GoodMajor
Santos took final investment decision on the US$3.6bn Barossa gas project, with a US$600m Darwin LNG life extension extending the plant about 20 years. First gas is targeted 1H 2025; about 380 mmboe moves to 2P reserves. Resolves the long-awaited FID.
15 Feb 2021resource reserve update● NeutralMajor
Santos reported 2P reserves of 933 mmboe at end-2020, up 34 mmboe before production; three-year replacement was 138%. Reindeer (WA) and PNG Juha downgrades trigger an expected US$98m goodwill impairment, plus US$41m other charges, on top of the earlier US$756m.
5 Jan 2021drilling scheduled▲ GoodMajor
Santos took FID on the US$235m Bayu-Undan Phase 3C infill program: three wells adding over 20 mmboe gross reserves, first spud 2Q 2021 and first production 3Q 2021. SK E&S sell-down has JV and Timor-Leste consent and completes at Barossa FID in 1H 2021.
