Strong Financial Performance
Sales revenue of $2.6 billion generated EBITDAX of $1.8 billion, with free cash flow from operations of $1.1 billion and profit after tax of $439 million. A 46% improvement in total recordable injury rate compared to the first half of 2024.
Operational Achievements
Barossa remains on schedule with production expected shortly, and the Darwin LNG plant has achieved readiness for start-up. The Alaska project has brought first oil guidance forward to Q1 2026, with significant cost-saving innovations in drilling technologies.
LNG Portfolio Performance
Santos' diversified LNG contract mix, with 92% contracted and around 80% oil-linked between 2025 and 2029, provides flexibility and strong cash margins, commanding a premium for high heating value LNG from Barossa and PNG LNG.
Safety and Environmental Progress
Santos' safety performance is strong, with a 22% improvement in emissions intensity since the startup of Moomba CCS, which has safely and permanently stored more than 1 million tonnes of CO2 equivalent.