Santos Ltd expects to provide 101-111 million barrels of oil equal (MMboe) this 12 months, in comparison with 87.7 MMboe in 2025, based on the Australian firm’s quarterly report Thursday.
Within the final three months of 2025 Santos’ output totaled 22.3 MMboe, up 5 % quarter-on-quarter. Full-year manufacturing was up one % from 2024, the Adelaide-based pure gas-focused producer mentioned.
Santos mentioned a undertaking to unlock new fuel for Darwin LNG within the Northern Territory by way of the Barossa subject had been accomplished and that liquefied pure fuel (LNG) manufacturing has restarted. “Following the top of the quarter, the primary LNG cargo has been offered on a delivered ex-ship foundation”, the quarterly report mentioned. “The cargo is presently being loaded at Darwin LNG and will probably be delivered to the Sakai terminal in Japan”.
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Within the Cooper basin on the Australian east coast, manufacturing recovered to pre-flood ranges. “Drilling exercise continued uninterrupted in 2025, with 104 wells drilled for the total 12 months regardless of flood-related disruptions, supporting a near-term enhance in manufacturing in comparison with the earlier quarters”, Santos mentioned.
“Western Australia home fuel manufacturing elevated by roughly 19 % in comparison with the prior quarter, following profitable shutdowns within the third quarter on the Varanus Island and Macedon services, and implementation of the Varanus Island compression undertaking part 2, which developed round 24 MMboe of 2P [proven and probable] reserves”, it mentioned.
In Alaska in the US, part 1 of the Pikka oilfield growth was 98 % full, on monitor to begin manufacturing this quarter, Santos mentioned.
Managing director and chief government Kevin Gallagher mentioned, “The efficiency of the bottom enterprise has been an actual spotlight in 2025 with robust manufacturing regardless of the impression of the largest floods within the Cooper Basin for the reason that Seventies”.
“As soon as at full charges, Barossa LNG and Pikka part 1 collectively are anticipated to elevate Santos’ manufacturing by round 25 to 30 % by 2027 in comparison with 2024 ranges”, Gallagher added.
Santos offered 24.8 MMboe in October-December 2025, up 15 % quarter-over-quarter. Full-year gross sales totaled 93.5 MMboe, up two % in comparison with 2024. For 2026, Santos forecast 101-111 MMboe in gross sales quantity.
Quarterly gross sales income rose 9 % sequentially to $1.23 billion as the rise in gross sales quantity offset a worth drop throughout LNG, home fuel, crude oil and condensate.
LNG accounted for $780 million of This autumn gross sales income with 1.44 million metric tons offered, up from 1.44 million metric tons in Q3.
Home fuel contributed $268 million to This autumn gross sales income with 48.6 petajoules offered, up from 45.3 PJ in Q3.
Free money circulation from operations landed at $380 million for This autumn, up 30 % quarter-on-quarter.
“The fourth quarter lifted free money circulation for the total 12 months to roughly $1.8 billion, a robust lead to a 12 months of comparatively delicate commodity costs for the business, which demonstrates the worth of our concentrate on margin in our advertising and marketing and buying and selling actions”, Gallagher mentioned.
To contact the writer, e mail jov.onsat@rigzone.com
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