Santos

Australia's second largest oil and gas producer Santos (ASX:STO) has announced its full year financial results for 2012 to its shareholders and investors on the Australian stock market.

• Santos posted an annual profit result of $519 million, down 31 percent.
• Santos underlying profit up 34 percent to $606 million.
• STO Annual revenue from ordinary activities up 18 percent to $3.299 billion.

Gas and petroleum company, Santos (ASX:STO) have reported their first half (1H) earnings to the stockmarket.

• Underlying profit was $283 million, up 20 percent. (analysts forecasts was $270 million)
• Underlying profits excluded asset sales in the previous first half, sale of 15 percent of Santos stake in Gladstone QLD LNG project.
• Net profit was down to $262 million from $504 million or 48 percent, for the corresponding period.

Australian energy firm Santos (STO) has reported a 9 per cent fall in production for the three months to December compared to the previous year but says that its full year production is still within its guidance. Santos produced 11.7 million barrels of oil equivalent (mmboe) in the last quarter of 2011, giving the energy firm a full year production of 47.2 mmboe, 5 per cent down compared to 2010.

Oil and gas company Santos (STO) has confirmed that it will develop the Fletcher Finucane oil project in Carnarvon Basin off the northwest coast of Western Australia worth $490 million. Santos will contribute $236 million of the capital expenditure of the project as its venture participants Kufpec Australia and JX Nippol Oil and Gas will share for the remaining costs.

Mining company Santos (STO) have agreed with the farmers and state government to delay its coal-seam gas exploration at its Georges Island site where 90 farmers staged a blockade for 20 days.

Santos (ASX:STO) has offered $730 million for Eastern Star Gas in a takeover bid that makes it the top major player in NSW's coal seam gas sector.

Electricity retailer TruEnergy will pay $284 million for 20 percent of Eastern Star's assets when the deal is finished. After yesterday's offer that values Eastern Star at 90 cents per share or $924 million, shares rose by 41.18 percent to 84 cents. Santos shares dipped 3.7 percent lower at $12.74.

First quarter sales and production dropped for Santos (ASX:STO), resulting in a downward revision of 47-50 mmboe (from 48-52 mmboe) to its annual oil and gas production guidance. Santos cited extreme weather disruptions in Central and Western Australia.

Petroleum and Gas company, Santos (ASX:STO) seeking a capital raising, has raised an additional €300 million in its European hybrid issue. The company’s upsized issue totals €1 billion as Santos previously raised €700 million last month from a European hybrid issue through UBS and Deutsche Bank.