ASX: STO oil production under full swing

0
145
ASX: STO oil production under full swing

Santos Limited (ASX: STO) has recently announced that Quarterly (2Q) Cooper Basin oil production was the highest in four years, and that Cooper Basin gas production was up 8% and oil production was up 17% compared to the prior quarter due to strong performance from recently connected wells more than offsetting the impact of a higher level of planned maintenance at Moomba. Marabooka-18 development well depicted 3.1 days from spud to rig release, fastest ever gas well drilled. WA gas production was up 10% compared to the prior quarter due to higher customer demand and commencement of two new sales contracts.

Combined with the restart in PNG LNG production following major earthquake activity in February 2018, second quarter production of 14.2 million barrels of oil equivalent (mmboe) was higher than the prior quarter due to strong production from the Cooper Basin and Western Australia gas. Despite the PNG LNG outage and planned shutdowns at Moomba and Bayu, Undan/Darwin LNG which reduced first half production by about 2 mmboe and sales revenue by approximately US$80 million, the strong increase in revenue was achieved.

Santos Ltd (ASX: STO) traded at a market price of $6.070 with a daily price change of $0.110 or a percentage change of 1.85% as at July 19, 2018, 4:15 pm AEST.

[pluginops_form template_id=’23834′ ]

 

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.