Santos Q4 Production Down

(RTTNews) - Oil and gas producer Santos Ltd. (STOSF.PK, SSLTY.PK, STO.AX) reported that its fourth quarter production declined to 23.4 million barrels of oil equivalent or mmboe from 25.6 mmboe last year. Total sales volume for the fourth quarter were 25.3 mmboe down from 26.9 mmboe in the prior year.

Quarterly sales revenue decreased to US$1.49 billion from US$1.88 billion in the previous year.

The company still expects production to be in the range of 89 mmboe - 96 mmboe and sales volumes of 90 mmboe - 100 mmboe for fiscal year 2023.

Looking ahead for fiscal year 2024, the company projects production to be in the range of 84 mmboe - 90 mmboe and Sales volumes of 87 mmboe - 93 mmboe.

Santos said it will release its results for the year ended 31 December 2023 on Wednesday 21 February 2024.