First-half overview Safety: TRCFR 4.0 Highest first-half production in three years: 25.4 mmboe Underlying profit up 20% to 283 million PNG LNG and GLNG on track for first LNG in 2014 and 2015 respectively The capital cost estimate…
Safety performance A balanced focus on personnel and process safety Personnel safety Process safety TRCFR performance Safety critical compliance long-term trend (employees and contractors) 99.8% 100% Total recordable case frequency…
2012 Half-year results Andrew Seaton CFO
Underlying half-year net profit up 20% 2012 Half-year result Change on 2011 first-half Production 25.4 mmboe 11% Sales revenue 1,493 million 27% EBITDAX (excluding asset sales) 876 million 18% Net profit after tax 262 million…
Net profit reconciliation Net profit after tax million 700 84 (52) (27) 72 (31) 600 7 (271) 504 500 400 (24) 300 262 200 100 0 1H 2011 Prices and Sales Production DD&A E&E Net finance Gain on sale Other 1H 2012…
Production costs up as new assets on-line Production costs million 600 543 556 532 537 500 400 286 266 261 296 300 200 335 257 266 276 260 100 0 2008 2009 2010 2011 2012 1H 2H Higher production costs due to new…
Eastern Australia Cooper Basin recovering from flood impacts; early success with shale gas program Production EBITDAX Steady production of 10.9 mmboe, (mmboe) (million) with 26% oil and liquids 316 312 EBITDAX in line with first half…
Western Australia & Northern Territory Growth driven by record Carnarvon gas production in the first half Production EBITDAX (mmboe) (million) Production increased by 23%, 386 driven by strong gas production at 368 John Brookes and…
Asia Pacific Chim So drives higher oil production and EBITDAX Production higher due to Chim So Production EBITDAX (mmboe) (million) and Wortel on-line, offset by lower 174 Maleo gas production due to the favourable price review…
6.8 billion of funding capacity Balance sheet capacity to fund execution of business strategy and minimise financing risk Available liquidity Debt maturity profile A billion A million 8 1,800 7 1.2 1,500 6 0.8 5 1.9 1,200 4…
Moomba-191 shale well, Cooper Basin Moomba-191 shale well James Baulderstone EA Vice President
Focused execution of unconventional strategy Objective of Moomba-Big Lake REM shale appraisal: achieve gas flow to surface Core acquisition, logs, minifrac and analysis Dedicated vertical shale well (Moomba-191) Specialised…
Australias first commercial shale well Moomba-191 flow at stabilised Moomba-191 Flowback gas rate of 2.6 mmscf/d Flow-back commenced 27th July Two-week flow-back completed with measured dry gas stabilised rate of 2.6 mmscf/d at line…
Multiple targeted projects continuing in 2012 and 2013 Santos will continue to execute its unconventional strategy, whilst continuing to apply learning to optimise target selection and well design Targeted projects addressing…
GLNG
Dual channel gas strategy LNG markets Dual channel strategy Export channel Domestic channel Strong Focused Australian Asian A leading base growth energy company in Australia and Asia A leading gas producer in…
Creating the export channel for Santos Dual channel strategy (LNG and domestic) creates a new legacy asset for Santos and revitalises the Cooper Basin Strategy accesses higher gas prices... ...and accelerates reserves build Gas…
Creating value for Santos shareholders Material value Sell-down of 70% interest in GLNG to PETRONAS, Total and KOGAS captured pre-FID generated 3.3 billion in proceeds pre-FID Binding 20-year off-take agreements with quality…
Compression capacity and gas purchases Investment in upstream facilities provides 890 TJ/day of compression capacity by end 2015; gas purchases to date provide a further 240 TJ/day GLNG net share compression capacity at the end of 2015…
Fairview and Roma CSG fields Consistently strong flow rates from Fairview wells Roma pilots in line with expectations Fairview Roma GLNG ownership 79% 100% Total CSG wells 345 comprising: 105 comprising: drilled to end June 70…
Roma field geology well understood Santos has a long history operating in the Roma area Surat Basin Coal - Gas Content Fairway Conventional gas 50 years CSG pilots 8 years Geological trend well understood gas content thickness…
Drilling rigs and wells Drilling capacity secured to meet forecast well requirements Around 1,000 wells on-line by end-2015 out of a total well stock of 1,3001 450 wells drilled to end June 2012 Target of 70 wells in 2H 2012 250-300…
Reserves and resources GLNG has 8,800 PJ of dedicated reserves and resources Santos portfolio in eastern Australia contains another 10,000 PJ GLNG dedicated 2P+2C (PJ) Santos eastern Australia portfolio2 10,000 Surat/ Gladstone 8,000…
On schedule for first LNG in 2015 Upstream Pipeline LNG plant 450 wells drilled 420-km pipeline Construction on Curtis Sufficient drilling rig manufacture complete Island progressing on capacity to meet forecast Nine shipments…
Curtis Island LNG site 9 July 2012 9 August 30 2011
PNG LNG
PNG LNG First LNG expected in 2014 on schedule Hides drilling commenced late July Piling, foundations and structural steel continue at Hides Earthworks at the Komo airfield continue and pavement is underway Offshore pipelay is…
Summary Good first half with base business performing well Sanctioned projects on track Crown-1 well in the Browse Basin spudded Moomba-191 success with well to be tied- in to produce Australias first commercial production of gas…
2012 Half-year results 17 August 2012 34
Reference slides
Clean Energy legislation Government introduced the price of 23 per tonne of CO2e on 1 July 2012 Requires Santos to surrender one carbon permit for each tonne of CO2e emitted from its liable facilities The cost of carbon for Santos…
Production up 11% as new projects on-line Production mmboe 30 27.6 26.7 25.4 25 24.2 22.9 20 15 10 5 0 1H 2008 1H 2009 1H 2010 1H 2011 1H 2012 2012 half-year production up 2.5 mmboe, primarily due to first production…
Significant items after tax Half-year Half-year million 2012 2011 Net profit after tax 262 504 Add/(deduct) significant items Net gains on asset sales (6) (246) Net impairments 22 (9) Other 5 (13) Underlying net profit 283 236 2012…
All 2012 guidance unchanged Item 2012 Guidance Production (mmboe) 51-55 Production costs (m) 610-640 DD&A expense (/boe) 15 Royalty related taxation expense1 80-100 (m after tax) Capital expenditure (including 3.75 billion…
2012 full-year sensitivities Sensitivity Change NPAT impact Am US dollar oil price +US1/bbl +9 Gas price +10 cent/GJ +15 A/US exchange rate +1 cent -8 41
2012 exploration schedule Santos Well name Basin / area Target Timing Interest % C&S, successful Tardrum Bowen CSG 50 CSG Beam-1 Carnarvon Gas 45 P&A Chim So NW-1 Nam Con Son Oil 31.875 P&A Hoss-1 Carnarvon Oil 37.3 Drilling…
Contact information Head office Adelaide Andrew Nairn Group Executive Investor Relations Ground Floor, Santos Centre Level 10, Santos Centre 60 Flinders Street Direct: + 61 8 8116 5314 Adelaide, South Australia 5000 Email:…
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