Santos : Annual Reserves & Resource Statement and expected impairment
édité le 16/02/2021 - Plus de news de Santos - Voir la fiche entreprise de Santos
Santos released its Annual Reserves and Resource Statement. Proved plus probable (2P) reserves were 933 million barrels of oil equivalent (mmboe) at the end of 2020, an increase of 34 mmboe before production.
xKey highlights:
- 102 per cent Cooper Basin three-year 2P reserves replacement
- 184 per cent GLNG 2P reserves replacement in 2020
- 41 mmboe 2P reserves added in Northern Australia and Timor-Leste through the ConocoPhillips acquisition and sanction of infill drilling at Bayu-Undan
- Reserve revisions of -15 mmboe in PNG and -20 mmboe in Western Australia, including the Reindeer gas field in WA leading to expected US$98 million impairment of goodwill
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Santos has released its 2020 Fourth Quarter Activities Report. The key findings of the report are outlined below.
Record annual production at top end of upgraded guidance:
Record annual production of 89 million boe, 18% above the prior year and at the top end of upgraded guidance provided in December.
Record quarterly production of 25.4 million boe, 1% above the prior quarter.
Record quarterly sales volumes of 31.1 million boe, 7% above the prior quarter.
Record annual sales volumes of 107.1 million boe. generated annual sales revenue of US$3.4 billion.
Fourth quarter sales revenue of US$922 million, up 16%, primarily due to stronger LNG sales volumes (up 23%) and prices (up 25%).