STO.AX - Santos Limited

ASX - ASX Delayed Price. Currency in AUD
8.95
+0.07 (+0.79%)
At close: 4:11PM AEDT
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Previous Close8.88
Open8.95
Bid9.68 x 0
Ask8.95 x 0
Day's Range8.82 - 8.98
52 Week Range5.88 - 9.07
Volume4,087,254
Avg. Volume4,487,858
Market Cap18.644B
Beta (5Y Monthly)1.96
PE Ratio (TTM)20.62
EPS (TTM)0.43
Earnings DateFeb 20, 2020
Forward Dividend & Yield0.17 (1.98%)
Ex-Dividend DateAug 27, 2019
1y Target Est5.04
  • Bloomberg

    Top Quality Oil Sold Near $100 a Barrel on New Ship Rules

    (Bloomberg) -- Just shy of $100 a barrel -- that’s the cost of a type of crude that’s become prized thanks to the scramble for cleaner-burning fuels.Australia’s Santos Ltd. this week sold a cargo of March-loading Pyrenees, a dense and low-sulfur oil, at a premium of about $31 a barrel over Dated Brent, according to traders who took part in the tender. That’s the equivalent to just under $100 a barrel given that the global benchmark is trading at about $65.Demand for so-called heavy-sweet oil like Pyrenees has surged in recent months due to cleaner global ship-fuel standards, known as IMO 2020, which took effect Jan. 1. The new rules have boosted the value of these crudes that are low in sulfur and also viscous, which makes them better for marine engines. Low-sulfur marine fuel, another IMO compliant type of oil, cost about $640 a ton this week in Singapore, the equivalent of about $95 a barrel.See also: Ship Fuel Goes From Pariah Product to Gold-Dust for Oil RefinersSantos had sought a target price of $32 a barrel or more over Dated Brent, according to traders. The company has a minority stake in the Pyrenees project, which it acquired through its 2018 purchase of Quadrant Energy.“New IMO 2020 environmental regulations for shipping bunker fuel are driving the low-sulfur fuel oil market,” a Santos spokeswoman said in an emailed statement. “Heavy sweet crudes like those from our Van Gogh and Pyrenees fields are well suited for fuel oil blending to meet the new environmental requirements and are currently in very high demand.”Pyrenees is also particularly valued because of its relative scarcity, with production of about 15,000 barrels a day pumped from fields off Western Australia, according to BHP Group, the majority owner and operator. A cargo to load this month was sold in November at more than $17 a barrel over Dated Brent. Another Australian heavy-sweet crude, Van Gogh, sold at a premium of as high as $19 to Dated Brent in December.(Updates with company comment in fifth paragraph.)\--With assistance from Dan Murtaugh.To contact the reporter on this story: Serene Cheong in Singapore at scheong20@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Dan Murtaugh, Alexander KwiatkowskiFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • Moody's

    ENN Clean Energy International Investment Ltd -- Moody's changes ENN Ecological's outlook to positive

    Moody's Investors Service has affirmed ENN Ecological Holdings Co., Ltd's Ba2 corporate family rating (CFR), as well as the Ba2 rating on the senior unsecured notes issued by ENN Clean Energy International Investment Limited and guaranteed by ENN Ecological. Moody's rating action follows ENN Ecological's announcement on 21 November that it will acquire a 32.80% stake in ENN Energy Holdings Limited (ENN Energy, Baa2 stable) for RMB25.8 billion from ENN Group International Investment Limited (EGII) and Essential Investment Holding Company Limited.

  • Reuters

    ConocoPhillips agrees to sell Australian assets to Santos for $1.39 bln

    Energy company ConocoPhillips said on Monday it had agreed to sell most of its Australian assets to rival Santos Ltd for $1.39 billion, with the deal expected to close in the first quarter of 2020. The U.S. company said it was selling its stakes in the Darwin LNG plant, which it built, the Bayu-Undan field which feeds the plant, the Barossa-Caldita field which may supply the LNG plant in future, and its Poseidon gas asset.

  • Reuters

    UPDATE 3-ConocoPhillips quits northern Australia in $1.4 bln sale to Santos

    ConocoPhillips has agreed to sell its northern Australian business to partner Santos Ltd for $1.39 billion, in a deal that will hike the Australian group's output by 25% and boost its position in the global gas market. The deal, which was not unexpected, marks the second major acquisition by Santos in less than a year, following a sharp turnaround in its fortunes under Managing Director Kevin Gallagher, and pushed its shares up 7% in early trade on Monday. ConocoPhillips, which has been focusing on its U.S. shale assets, will quit the Darwin LNG plant, which it opened in 2006, and gas fields off northern Australia, but hold on to its stake in the Australia Pacific LNG plant in Queensland state.

  • ConocoPhillips quits northern Australia in $1.4 billion sale to Santos
    Reuters

    ConocoPhillips quits northern Australia in $1.4 billion sale to Santos

    ConocoPhillips has agreed to sell its northern Australian business to partner Santos Ltd for $1.39 billion, in a deal that will hike the Australian group's output by 25% and boost its position in the global gas market. The deal, which was not unexpected, marks the second major acquisition by Santos in less than a year, following a sharp turnaround in its fortunes under Managing Director Kevin Gallagher, and pushed its shares up 7% in early trade on Monday. ConocoPhillips, which has been focusing on its U.S. shale assets, will quit the Darwin LNG plant, which it opened in 2006, and gas fields off northern Australia, but hold on to its stake in the Australia Pacific LNG plant in Queensland state.

  • Cell C Seeks Network Deal With MTN in Battle for Survival
    Bloomberg

    Cell C Seeks Network Deal With MTN in Battle for Survival

    (Bloomberg) -- Cell C Pty Ltd. is in advanced talks with MTN Group Ltd. to gain more access to its network as South Africa’s third-biggest mobile-phone company strives to overcome mounting losses and add products such as financial services.An extended roaming deal could be concluded within the next month, Chief Executive Officer Douglas Craigie Stevenson said in an interview. Cell C will gain additional access to MTN’s network in major cities such as Johannesburg and Cape Town.“We are not a tower-owning company, our profits have to come from the services that we are able to offer customers,” said the CEO, who took charge on a permanent basis last month to replace the ousted Jose Dos Santos.Cell C is struggling under 9 billion rand ($596 million) of debt, while full-year losses have ballooned to 8 billion rand from 656 million rand a year earlier. Its management team is in weekly calls with lenders to update them on plans and ensure the company pushes through a re-capitalization by the end of the year.MTN confirmed it’s in discussions with Cell C. “We believe there are still opportunities to pursue, to the benefit of both businesses,” spokeswoman Jacqui O’Sullivan said in an emailed response to questions.Liquidity LifelineA group of local banks have committed to provide temporary liquidity and extended the maturity of 1.2 billion rand of debt that was due to be repaid last month, Cell C said in a presentation on Thursday.South Africa’s telecommunications market is dominated by Johannesburg-based rivals MTN and Vodacom Group Ltd., meaning smaller rivals such as Cell C have struggled. The carrier has come close to collapse on previous occasions, and in 2016 was rescued by a funding plan led by Blue Label Telecoms Ltd.“It’s always been a stressed investment and a company that has not been performance-managed,” said Craigie Stevenson. “Deals were done to fix a funding gap, and did not have thought-out longevity.”Other investments, such in TV-content platform Black, have absorbed cash without generating appropriate returns, the company said.New management is examining all costs and looking to get the most out of Cell C’s assets, Chief Financial Officer Zafar Mahomed said in the same interview. The company wants the bad news out of the way so as to enable the start of a growth plan, he said.Blue Label shares have slumped 45% this year, valuing the group at 2.7 billion rand.(Update with graph and MTN comment in fifth paragraph)To contact the reporter on this story: Loni Prinsloo in Johannesburg at lprinsloo3@bloomberg.netTo contact the editors responsible for this story: Rebecca Penty at rpenty@bloomberg.net, John Bowker, Thomas PfeifferFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Moody's

    ENN Clean Energy International Investment Ltd -- Moody's: ENN Ecological's weaker 1H 2019 results have no rating impact

    Moody's Investors Service says that ENN Ecological Holdings Co., Ltd's 1H 2019 results were weaker than expected, but have no immediate impact on its Ba2 corporate family rating and the Ba2 rating of the senior unsecured ratings notes issued by ENN Clean Energy International Investment Limited and guaranteed by ENN Ecological. "ENN Ecological's earnings for 1H 2019 were slightly weaker than expected, primarily as a result of volatility in methanol prices," says Chenyi Lu, a Moody's Vice President and Senior Credit Officer. ENN Ecological's debt leverage -- as measured by adjusted debt/EBITDA -- remained unchanged at 4.1x for the 12 months ended 30 June 2019 from 2018, as softer earnings were offset by a decrease in debt.

  • Thomson Reuters StreetEvents

    Edited Transcript of STO.AX earnings conference call or presentation 22-Aug-19 1:00am GMT

    Half Year 2019 Santos Ltd Earnings Presentation

  • Reuters

    Santos cleared to start shale drilling in Australia's Northern Territory

    Santos Ltd has won the first approval from Australia's Northern Territory to resume shale drilling, nearly three years after the territory banned fracking amid concerns about the impact on water and indigenous sites. The ban was lifted last year with recommendations for strict new rules to govern fracking, or hydraulic fracturing, which involves injecting water and chemicals at high pressure to break up rock to release oil or gas. On Wednesday, the Northern Territory government said it had approved Santos's plan to drill in the McArthur Basin after the company revised its wastewater management and spill management plans.

  • Reuters

    UPDATE 1-Australia's Santos posts record production in second quarter

    Australia's No 2 independent gas producer Santos Ltd said on Thursday it had clocked record gas production in the second quarter on stronger output across its Western Australia gas assets. Santos now expects annual sales of 90-97 mmboe and production of 73-77 mmboe. Santos also realized lower prices over the quarter.

  • Thomson Reuters StreetEvents

    Edited Transcript of STO.AX earnings conference call or presentation 21-Feb-19 12:00am GMT

    Full Year 2018 Santos Ltd Earnings Call