New book by Larry Connors Click here Improve your trading - See how
Production rose to 13.9 million barrels of oil equivalent (mmboe) in the three months ended September 30, from 13.2 mmboe the same quarter in 2008.
Against the June quarter this year, production was up four per cent from 13.4 mmboe.
Santos Chief Executive Officer David Knox said in a statement on Thursday the company's base business had delivered a solid production performance in the September quarter, leaving it on track to meet its guidance to produce between 53 mmboe and 56 mmboe for the full year.
"Our liquefied natural gas (LNG) portfolio continues to develop with the addition of our fourth project, Bonaparte LNG, during the quarter," he said.
He said both the Papua New Guinea LNG and Queensland-based Gladstone LNG projects were progressing well and were on track for final investment decisions by the end of 2009 and the first half of 2010, respectively.
"Looking forward, we remain focussed on performance from the base business, delivering significant growth through our LNG projects and focussed opportunities in Asia," Mr Knox said.
"We continue to believe natural gas has a strong role to play in addressing the twin challenges of carbon emissions and energy security in Australia and in Asia."
Year to date, Santos' output totalled 40.5 mmboe, which was down one per cent on the same period in 2008.
The company's oil and gas sales generated revenue of $A557 million (US$517.73 million) in the third quarter, up 15 per cent from the second quarter.
But revenue fell 24 per cent over the year, after it weathered a 44 per cent decline in the average realised oil price to 82.52 Australian cents a barrel from 146.42 cents a barrel, as international market prices fell.
(AAP)lm
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
