FX.co ★ Santos Q4 Production Down

Santos Ltd., an oil and gas producer, has reported a decline in its fourth quarter production from 25.6 million barrels of oil equivalent (mmboe) last year to 23.4 mmboe this year. The total sales volume for the fourth quarter also dropped from last year’s 26.9 mmboe to 25.3 mmboe.

The company’s quarterly sales revenue has decreased from US$1.88 billion last year to US$1.49 billion this year. However, Santos is still optimistic about its projections for 2023. The company anticipates its production to range between 89 mmboe to 96 mmboe, and sales volumes to fall between 90 mmboe and 100 mmboe.

Looking further ahead to the 2024 fiscal year, Santos predicts its production to be in the range of 84 mmboe to 90 mmboe. The sales volumes for the same year are expected to be between 87 mmboe and 93 mmboe.

Santos added that it would release its results for the fiscal year ending 31 December 2023, on Wednesday, 21 February 2024.