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Santos Limited ( (AU:STO) ) has issued an update.
Santos Limited has reported proved plus probable reserves of 1,484 million barrels of oil equivalent at the end of 2025, a 13 mmboe increase before production driven mainly by the Cooper Basin and PNG. The company’s 2P reserves life stands at 17 years, with 83 per cent gas, 17 per cent liquids, and 40 per cent of 2P reserves held in international assets.
Developed reserves now account for 62 per cent of total 2P volumes, while contingent resources fell to 3,212 mmboe after divesting interests in the Petrel and Tern fields. Santos also expanded its carbon capture position, with 2P CO2 storage capacity of 8 million tonnes after injecting 1 million tonnes, and boosting 2C contingent storage resources in the Cooper Basin to 202 million tonnes.
Management highlighted strong organic 1P reserves replacement and growing CO2 storage resources as key supports for its decarbonisation strategy and the commercial expansion of the Moomba CCS project. Additional unaudited guidance for 2025 flagged about $4.94 billion in product sales revenue, cost of sales of roughly $3.25–3.3 billion, and an effective tax rate of about 31 per cent, alongside impairments, higher other expenses and a small loss from joint ventures.
The most recent analyst rating on (AU:STO) stock is a Sell with a A$6.00 price target. To see the full list of analyst forecasts on Santos Limited stock, see the AU:STO Stock Forecast page.
More about Santos Limited
Santos Limited is an Australian oil and gas producer with a portfolio spanning domestic and international assets, including significant operations in the Cooper Basin and Papua New Guinea. The company’s production mix is heavily weighted to natural gas and related liquids, and it is increasingly investing in carbon capture and storage capacity to support its decarbonisation strategy and meet emerging CO2 storage demand.
Average Trading Volume: 9,719,585
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$22.33B
See more insights into STO stock on TipRanks’ Stock Analysis page.