Santos

Santos reported H1 2026 production of 45.6m barrels of oil equivalent (+3%) and revenue of USD 2.62bn (+2%); earnings per share were USD 0.109 (analyst consensus USD 0.105). Management expects H2 production to rise about 20–30% as Barossa LNG and Pikka phase‑1 ramp up; Pikka shipped its first crude cargo in August and aims for a gross plateau of 80,000 bpd by end‑Q3. Santos announced a non‑tax‑advantaged interim dividend of 11.6 US cents per share; the stock rose 2.8% to A$8.335, outperforming the market. » More on de.investing.com

Santos closed 2025 with 2P reserves of 1,484 mmboe (down from 1,559 mmboe) after 88 mmboe of production, while 1P proved reserves remained broadly stable at 913 mmboe. Gas accounts for 83% of 2P volumes, developed reserves rose to 62% of 2P, and the company’s 2P reserves life is about 17 years. Contingent resources (2C) fell to 3,212 mmboe partly due to divestments, but CO2 storage 2C increased by 24 Mt to 202 Mt, supporting scaling of the Moomba CCS project. Preliminary 2025 guidance includes product sales revenue of ~ $4.94 billion, cost of sales $3.25–3.30 billion, net finance costs $250–265 million and about $137 million of impairments. » More on finance.yahoo.com

Santos shares fell 11.9% after the collapse of a planned $19 billion takeover. The XRG division of Abu Dhabi National Oil Co. ended talks after the parties failed to agree on key contractual terms. The drop wiped out about A$3 billion (US$2 billion) of market value and pushed market capitalization below $15 billion, marking the biggest one-day loss in five years. The failed offer is the third unsuccessful attempt to sell Santos and increases pressure for higher valuations and shareholder returns. » More on de.investing.com