Santos reports 66% jump in Q4 revenue
Australian gas producer Santos on January 20 reported a 66% year/year jump in its Q4 sales revenue owing to higher realised product prices.
The company’s sales revenue came in at $1.53bn compared with $922mn in the same quarter last year. The Q4 revenue includes the contribution from Oil Search since December 10, when its merger with Santos became effective.
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The average realised LNG price in Q4 was $13.64/mn Btu, up 155% yr/yr. Average realised oil price was up 85% yr/yr, Santos said.
Output in Q4 dropped to 22.9mn boe compared with 25.4mn boe last year. The company’s annual output was 92.1mn boe, up 3.5% yr/yr.