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).

Find out more

If you would like more information, please contact your adviser or nearest Morgans office. 

Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.