Santos reports $1.35B second quarter revenue

• Santos generated US$1.35 billion in sales revenue for the second quarter, marking a 6% increase.
• Quarterly production reached 23.1 million barrels of oil equivalent, representing a 3% gain.
• Executive management projects second-half production to increase by 20% to 30% across core assets.

Santos (ASX:STO) generated US$1.35 billion in second-quarter sales revenue as production reached 23.1 million barrels of oil equivalent.

The revenue result represented a 6% sequential increase, supported by higher realised prices for liquefied natural gas.

Operational growth was driven by the Barossa project, which reached 97% of its planned output capacity.

First-half operating free cash flow dropped to negative US$376 million due to commissioning costs and delayed cargo collections.

Following the announcement, the Santos share price was unchanged at $7.85.

Santos stated that second-half production is expected to rise by 20% to 30% as projects expand.

The company continues prioritising capital allocation across its core growth hubs in Australia, Papua New Guinea, and Alaska.