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Santos Limited ( (AU:STO) ) just unveiled an update.
Santos Limited announced robust financial results for 2024, underscored by a strong free cash flow of US$1.9 billion and a net profit after tax of US$1.2 billion. The company highlighted significant achievements, including the successful startup of Moomba CCS phase one, which reduced emissions and positioned Santos to potentially build a commercial carbon management services business. Additionally, Santos is making progress on its Barossa and Pikka development projects, with the Barossa LNG project nearing completion and expected to commence gas production in the third quarter of 2025. The company’s strategic moves in LNG agreements and its cost-efficient operating model underscore its commitment to delivering long-term shareholder value.
More about Santos Limited
Santos Limited is an Australian energy company primarily engaged in the production and exploration of oil and natural gas. The company has a strong market focus on supplying liquefied natural gas (LNG) to Asia, leveraging its strategic proximity to these markets. Santos is also investing in carbon capture and storage (CCS) to enhance its sustainability efforts.
YTD Price Performance: -17.02%
Average Trading Volume: 11,853
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $14.18B
For a thorough assessment of STO stock, go to TipRanks’ Stock Analysis page.
