San­tos raises sales guid­ance

Townsville Bulletin - - NEWS -

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).

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