公告日期：2020-01-31

Fourth Quarter Activities Report



For period ending 31 December 2019



ASX: STO | ADR: SSLZY



22 January 2020



Record annual production, sales volumes and sales revenue



 Annual production of 75.5 mmboe was a record for Santos and 28% above the prior year



 Record annual sales revenue of over $4 billion, up 10%, generated from sales volumes of 94.5 mmboe



 Fourth quarter production of 18.7 mmboe was 5% lower than the prior quarter primarily due to domestic



gas customer outages in Western Australia



Disciplined operating model driving stronger onshore performance



 Cooper Basin annual production increased for the second consecutive year, driven by strong operating



performance and a record 115 wells drilled



 Higher GLNG sales driven by stronger upstream equity gas production and a record 393 wells drilled.



GLNG ~6.2 mtpa sales run-rate now expected from 2020



Record free cash flow and lower production costs



 Record free cash flow of over $1.1 billion in 2019



 Production costs of ~$7.25/boe were 10% lower than the prior year and at the bottom end of guidance



Acquisition of ConocoPhillips’ business in northern Australia and Timor-Leste



 Value accretive acquisition of ConocoPhillips’ operating interests in Darwin LNG, Bayu-Undan, Barossa



and Poseidon announced in October for $1.39 billion plus a $75 million contingent payment subject to FID

on Barossa



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



 Completion expected in the first quarter of 2020, subject to third-party consents and regulatory approvals



Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos delivered record annual production

and revenues in 2019, and lower unit production costs, clearly demonstrating the effectiveness of our disciplined, ……
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