Energy giant Santos (ASX:STO) has delivered a robust full-year 2025 performance, underpinned by what CEO Kevin Gallagher describes as a "disciplined low-cost operating model."
The company reported an underlying net profit after tax of US$898 million, driven by sales volumes of 93.5 mmboe and a total revenue of US$4.9 billion.
A standout achievement in the report was the reduction of unit production costs to a ten-year low of US$6.78 per boe, reflecting a sharp focus on operational efficiency as major growth projects transition into the base business.
Santos declared a final dividend of 10.3 US cents per share, bringing the total cash return for the year to US$770 million.
The total dividend of 23.7 US cents per share represents roughly 43% of the company's US$1.8 billion free cash flow.
Beyond the balance sheet, the firm reached a milestone in its decarbonisation efforts, with the Moomba Carbon Capture and Storage Project storing over 1.5 million tonnes of CO2 equivalent since its inception.
Looking ahead, the company is pivoting toward "rightsizing" its workforce.
Gallagher announced a targeted 10% headcount reduction to maintain cost savings as the Barossa and Darwin LNG projects de-risk, following the successful achievement of the first cargo in early 2026.