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Content of the metanime description In the Australian oil and gas market, Santos has announced record quarterly production and sales volumes for the September quarter.
The ASX listed company produced 19.8 million barrels of oil equivalent in the third quarter, up 32 times from the same period last year, and set a new production record.
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The ASX-listed company produced 19.8 million barrels of oil equivalent in the third quarter, up 32% from the previous period, a new production record.
The largest also reported record sales of 25.2 million barrels of oil equivalent, up 25% from the previous period. Sales amounted to $ 1.03 billion, the highest quarterly revenue.
The highlight of the second quarter was the successful evaluation of Dorado, which is one of the most exciting growth projects in our portfolio. After strong well test results, we are aiming for market entry solutions in early 2020, said MD Santos and CEO Kevin Gallagher.
Earlier this month, Santos signed a $ 1.39 billion deal to acquire ConocoPhillips' Northern Australia business, which includes its share of the Darwin Liquefied Natural Gas (LGN) project and the assets of Bayu-Undan, Barossa and Poseidon.
In the first half of 2019, production related to assets to be sold was approximately 50,000 barrels of oil equivalent per day, and proven reserves at the end of 2018 were approximately 39 million barrels of oil equivalent.
Gallagher said the acquisition of ConocoPhillips 'assets enabled shareholders to manage and control long-lived low-cost natural gas resources and strategic liquefied natural gas infrastructure, in line with Santos' own strategy to reduce industrial activity.
Santos wants to work with our Joint Undertaking partners to achieve coherence to support the development of our Barossa and to facilitate the further development of the vast resources on the high seas and inland.
This value-adjusting acquisition will further reduce the disruptive oil price of our free cash flow and strengthen our expertise in offshore operations and development to drive growth throughout Northern and Western Australia, where we have significant resources available.
Looking at the full year, Santos estimates that 73 to 77 million barrels of oil equivalent will be produced, with sales volumes between 90 and 97 million barrels of oil equivalent. / p>
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