CANBERA (dpa-AFX) - Santos (STO.AX) reported second quarter total sales revenue of $1.35 billion compared to $1.29 billion, prior year. Production was 23.1 mmboe for the second quarter, with first-half production of 45.6 mmboe. Second-half 2026 production is expected to increase around 20 to 30 percent on the first half. The Group has narrowed production guidance to 99 to 105 mmboe for the full year.
Santos noted that Barossa is now producing at 97 percent of planned rates, with two project cargoes loaded towards the end of the quarter, with a current cadence of cargoes approximately every eight days. Pikka phase 1 is progressing toward plateau, with the initial set of production wells currently online delivering gross production of approximately 23,000 bbl/day.
At last close on ASX, Santos shares were trading at A$7.85.
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