Santos Limited Reports Earnings and Operating Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Operating Guidance for 2018
For the quarter, the company reported production of 15.0 mm boe against 15.0 mm boe a year ago.
For the full year, the company reported sales revenue of $3,107 million against $2,594 million a year ago. Capital expenditure was $682 million against $625 million a year ago.
For the full year, the company reported production of 59.5 mm boe against 61.6 mm boe a year ago.
As announced at the company's Investor Day on 9 November 2017, the company expects 2018 sales volumes to be in the range of 72-78 mmboe and production to be in the range of 55-60 mmboe. 2018 capital expenditure is expected to be $825 million-$875 million and upstream unit production costs to be $8.20-8.80/boe produced, primarily due to a number of one-off planned maintenance shutdowns in 2018 at PNG LNG, Moomba and Darwin LNG.