Santos: All eyes on Barossa approvals
About the author:
- Author name:
- By Adrian Prendergast
- Job title:
- Senior Analyst
- Date posted:
- 24 July 2023, 7:00 AM
- Sectors Covered:
- Mining, Energy
- A soft result revenue wise for Santos (ASX:STO), with realised prices impacting in-line production and sales volumes.
- FY23 production guidance has been narrowed to 89-93mmboe.
- STO believes there is potential for Barossa drilling to get underway before the year’s end if approvals are granted soon, which would see the project remain on schedule for first production in 1H’CY25.
- We maintain an Add rating on STO with a revised target price of (login to view).
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