Robust free cash flow and delivery of major projects were the hallmarks of a successful September quarter for Santos.
The company recorded approximately $US440 million in free cash flow from operations, a jump from the $US377 million reported in the June quarter.
While sales revenue of $US1.3 billion was slightly lower than the prior quarter, major project delivery across Santos’ global operations marked a milestone for the company.
High compression reliability at the Gobe and Kutube gas fields in PNG continued to provide additional backfill to the PNG LNG facility, with full production expected in the fourth quarter.
In Australia, the Barossa Gas project is now over 82 per cent complete, with production on track for the third quarter of 2025.
Santos managing director and chief executive officer Kevin Gallagher said the business delivered another strong quarter.
“Free cash flow from operations of almost $US1.5 billion year to date creates a strong platform to provide solid returns to shareholders, backfill and sustain our existing business, and continue to grow our Santos Energy Solutions business,” Gallagher said.
“We are extremely proud of the safe operations of our business. Over the past quarter we have continued to develop our major projects and undertaken major maintenance and shutdown activity, all done safely and efficiently. Safety is our number one priority.
“We now see line of sight to our major projects progressively coming online, putting us in a strong position to deliver stable, long-term production and sustainable, superior shareholder returns.”
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