公告日期：2019-10-19

Third Quarter Activities Report



For period ending 30 September 2019



ASX: STO | ADR: SSLZY



17 October 2019



Record quarterly production and sales volumes



 Third quarter production of 19.8 mmboe was a record for Santos and 32% up on the corresponding quarter

 Production was 7% higher than the second quarter with higher production from all Australian assets



 Record sales volumes of 25.2 mmboe were 25% higher than the corresponding quarter



 Sales revenue of $1,030 million was the second highest quarterly revenue on record



Dorado appraisal success



 Well tests confirmed the field is capable of producing flow rates at the higher end of pre-drill expectations



 The oil test rate of 11,100 barrels per day (facilities constrained) was one of the highest ever from a North

West Shelf appraisal well test



 Well test results supportive of FEED-entry in early 2020



Strong free cash flow



 Santos generated $214 million in free cash flow in the quarter, bringing total free cash flow for the nine



months to $852 million



Acquisition of ConocoPhillips’ northern Australian interests announced



 On 14 October, Santos announced the acquisition of ConocoPhillips’ interests in Northern Australia for



US$1.39 billion plus a contingent $75 million on Barossa FID1



 Value accretive acquisition of operating interests in long-life, low cost natural gas assets and strategic LNG

infrastructure consistent with Santos’ core asset growth strategy



 Fully-funded from existing cash resources and new committed debt



Santos Managing Director and Chief Executive Officer Kevin Gallagher said it was another strong quarter for Santos,

highlighted by record production and sales volumes, and the second highest quarterly sales revenue on record.



“Santos continues to generate strong free c……
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