Santos Fourth Quarter Report for the period ending 31 December 2024

Santos Limited (ASX: STO) reported robust financial results, with FY2024 sales revenue exceeding US$5.4 billion and free cash flow of US$1.9 billion, reflecting strong production of 87.1 mmboe. Gearing was ~20.8% as of December 31, 2024. Its achievements include finalizing the US$602 million sale of its PNG LNG stake, signing long-term LNG agreements with Shizuoka Gas and TotalEnergies, and securing US$800 million in Darwin LNG joint venture loans. The Moomba CCS project reached full capacity, injecting ~340,000 tonnes of CO2e in Q4.

Moreover, the company has made significant progress in the Barossa Gas and Pikka Phase One projects, advancing toward completion. Santos remains focused on operational excellence, sustainable development, and advancing decarbonization projects.

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