FX.co ★ Santos Q2 Production Down

Santos Ltd. (STOSF.PK, SSLTY.PK, STO.AX), an oil and gas producer, disclosed a decline in its second quarter production to 22.2 million barrels of oil equivalent (mmboe), compared to 22.8 mmboe during the same period last year.

The company reported a slight decrease in total sales volume for the second quarter, reaching 23.2 mmboe, down from 23.3 mmboe in the previous year.

Quarterly sales revenue also fell, amounting to $1.31 billion, compared to $1.34 billion the year before.

Looking forward to fiscal year 2024, Santos continues to forecast production in the range of 84 mmboe to 90 mmboe, with expected sales volumes between 87 mmboe and 93 mmboe.

The company plans to release its half-year results for the period ending 30 June 2024 on Wednesday, 21 August 2024.