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Santos Ups Production 11% YOY to 15.6 MMBOE; New Biz Model
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Santos has reported its first quarter 2016 results.
Highlights: First quarter production of 15.6 mmboe was up 11% on the corresponding quarter and 5% higher than the previous quarter. The new organisational structure involves moving away from geographic based business units to an asset focused model with strong technical capabilities in the primary business areas of exploration, development, production and commercial. Sales volumes were up 40% on the corresponding quarter. First quarter sales revenue was A$835 million. The average realised oil price decreased 28% to A$51 (US$37) per barrel. First quarter upstream production costs of A$11.90 per barrel, excluding LNG plant costs, were 13% lower than the corresponding quarter. First quarter capital expenditure of A$209 million was 59%…- ✓ Full news archive — U.S., Canada & international coverage
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