Oz Santos 1Q Output Up 33%

Australian Santos April 17 said its production during the three months to March 31 (1Q2019) was 33% higher year-on-year thanks to “sustained strong asset performance and the acquisition of Quadrant Energy”.

Production of 18.4mn boe in 1Q was a record for Santos despite impact of cyclone in Western Australia and facility outages in the Cooper Basin, it said.

Sales volumes of 22.8mn boe were 21% higher than the corresponding quarter of previous year while sales revenue was up 28% to $1.01bn, the second highest quarterly revenue on record.

Santos said production guidance is maintained at between 71 and 78mn boe and sales volumes between 88 and 98mn boe.