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Santos Ltd (SSLTY.PK)

SSLTY.PK on OTC Markets Group

17 Aug 2017
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Latest Key Developments (Source: Significant Developments)

Santos announces expected non-cash impairment
Monday, 14 Aug 2017 07:14pm EDT 

Aug 15 (Reuters) - Santos Ltd :Expects to recognise a non-cash net impairment charge of approximately US$690 million after tax in its 2017 half-year results.Expects to recognise an impairment of glng of approximately US$870 million after tax, predominantly due to lower oil prices.Expected net impairment charge is an after-tax, non-cash item with no impact on EBITDAX or cash flow.Expects to take an impairment charge against non-core AAL asset in Indonesia of approximately us$150 million after tax.Lowered its brent oil price forecasts to US$50/bbl in 2017, US$55/bbl in 2018, US$60/bbl in 2019, US$65/bbl in 2020, US$70/bbl in 2021 and US$70/bbl from 2022​."Expected positive net write-back to cooper basin carrying value of approximately US$330 million after tax".  Full Article

Santos to redirect gas to South Australian economy
Sunday, 13 Aug 2017 07:06pm EDT 

Aug 14 (Reuters) - Santos Ltd :To redirect gas to South Australian economy .Signed an agreement with ENGIE in Australia for supply of gas to Pelican Point Power Station.‍Contract is for 15PJ, starting in January 2018​.  Full Article

Santos says Philip Byrne appointed executive vice president marketing and trading​
Tuesday, 25 Jul 2017 09:38pm EDT 

July 26 (Reuters) - Santos Ltd :‍Announces appointment of Philip Byrne as executive vice president marketing and trading​.Byrne will transition into role and will take over from current executive vice president John Anderson.  Full Article

Santos updates on purchase of shares by Hony Capital
Wednesday, 3 May 2017 07:06pm EDT 

May 4 (Reuters) - Santos Ltd :Notes purchase of 48 million shares representing 2.3% of company's issued capital at a price of $3.84 by hony capital after market close on 3 may.Acquisition price represents a 6% premium to yesterday's closing price of $3.63.Santos understands purchase will increase hony, enn and affiliates' interest in company to 15.1%.  Full Article

Central Petroleum says Santos increases interest in EP(A)111 and EP(A)124
Tuesday, 2 May 2017 03:19am EDT 

May 2 (Reuters) - Central Petroleum Ltd :Santos increases its interest in EP(A)111 and EP(A)124-ctp.ax.Santos Qnt Pty has exercised its option to acquire a 50% participating interest in EP(A)111 and EP(A)124.Central will retain a 50% participating interest in the EP(A)s.  Full Article

Santos responds to Australian domestic gas security mechanism
Wednesday, 26 Apr 2017 08:32pm EDT 

April 27 (Reuters) - Santos Ltd :Response to the Australian domestic gas security mechanism-sto.ax.Note commonwealth government announcement regarding introduction of a new Australian domestic gas security mechanism.Santos will supply more gas into Australian domestic market than it purchases for its share of LNG exports..Santos will seek clarification of how new policy will work in practice.  Full Article

Santos says qtrly production 14.8 mmboe vs 15.6 mmboe a year ago
Wednesday, 19 Apr 2017 07:29pm EDT 

April 20 (Reuters) - Santos Ltd -:Qtrly sales revenue $684 million versus $753 million prior quarter .Q1 sales 18.6 mmboe versus 21.3 mmboe last year.2017 forecast free cash flow breakeven reduced to us$34/bbl, down from us$36.50/bbl in 2016.Qtrly production 14.8 mmboe versus 15.6 mmboe a year ago.All guidance for 2017 is maintained.Net debt reduced to us$3.1 billion as at 31 March 2017, down from us$3.5 billion at start of year.Extended term of us$860 million of bilateral bank loan facilities to 2022 on favourable terms.  Full Article

Comet Ridge says Mahalo Joint Venture approved Mahalo 2017 joint venture exploration work program
Wednesday, 12 Apr 2017 09:26pm EDT 

Comet Ridge Ltd :Mahalo Joint Venture has unanimously approved amended Mahalo 2017 joint venture exploration work program.  Full Article

Santos repays US$250 mln of 2019 ECA loan facility
Monday, 10 Apr 2017 09:48pm EDT 

Santos Ltd : Says repays US$250 million of 2019 ECA loan facility and extends bilateral bank facilities . Santos has also extended term of US$810 million of bilateral bank loan facilities .Announces early repayment of US$250 million of its US$1.2 billion export credit agency (eca) supported uncovered syndicated facility, scheduled to mature in 2019.  Full Article

Santos Ltd issues guidance
Thursday, 16 Feb 2017 07:37pm EST 

Santos Ltd : "Production and sales volume guidance remains unchanged at 55-60 Mmboe and 73-80 Mmboe respectively" .2017 guidance for capital expenditure (excluding capitalised interest) US$700-750 million.  Full Article

UPDATE 1-Santos to book $690 mln charge on weaker oil price outlook

Aug 15 Australian oil and gas producer Santos Ltd said it expects to book a net impairment charge of about $690 million after tax in its half-year results, mostly on its Gladstone LNG project after slashing its oil price outlook.