Santos raises sales guidance
SANTOS has lifted its full year production and sales guidance after higher liquefied natural gas prices contributed to an improved quarterly performance.
The part- owner of the Gladstone LNG project achieved total sales growth of 12 per cent in the three months to June to $ US769 million, which Royal Bank of Canada analyst Ben Wilson said was above the RBC’s own forecast of $ US692 million.
Improved sales revenue and volumes were primarily due to higher LNG prices and the timing of deliveries, Santos said in its quarterly report.
Full year sales are expected to be between 75 and 80 mmboe, up from its previous target of range of 73 to 80 million barrels of oil equivalent ( mmboe).