Australia's Santos reports 88% jump in revenue in Q3
Australian energy company Santos on October 20 reported over 88% year/year jump in revenue in the July-September quarter (Q3) on the back of high energy prices.
The company’s revenue in Q3 was a record $2.15bn compared with a revenue of $1.14bn a year earlier. Santos said its realised LNG price in Q3 was $16.76/mnBtu, up from $10.36/mnBtu in the same quarter last year. The average realised oil price jumped over 41% yr/yr.
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Production for the quarter came in at 26.1mn boe, as compared with 21.9mn boe last year. For the full year, Santos narrowed its production guidance to between 103mn boe and 106mn boe from 102mn boe to 107mn boe, and its sales volume forecast to between 110mn boe and 114mn boe from 110mn boe to 116mn boe.