Santos releases its 2021 First Quarter Activities Report
22 Apr 2021
Strong base business generated US$302 million free cash flow in first quarter
First quarter production of 24.8 mmboe was 39 per cent above the corresponding quarter in 2020 primarily due to the ConocoPhillips acquisition which completed in May 2020
Production was 2 per cent lower than the December quarter primarily due to lower domestic gas demand in Western Australia and unplanned maintenance in PNG, offset by strong production from Bayu-Undan
Higher GLNG equity gas production from the Roma and Arcadia fields supported annualised LNG production of 6.4 mtpa in the quarter
First quarter revenue of US$964 million was stronger despite the contractual 3-month lag in oil-linked LNG prices and lower overall sales volumes
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